UMB Bank n.a. Sells 1,548 Shares of Enbridge Inc. (NYSE:ENB)

UMB Bank n.a. cut its position in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 7.1% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 20,401 shares of the pipeline company’s stock after selling 1,548 shares during the quarter. UMB Bank n.a.’s holdings in Enbridge were worth $866,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. William B. Walkup & Associates Inc. bought a new stake in shares of Enbridge during the 2nd quarter valued at $28,000. McIlrath & Eck LLC boosted its stake in Enbridge by 74.9% during the third quarter. McIlrath & Eck LLC now owns 689 shares of the pipeline company’s stock worth $28,000 after acquiring an additional 295 shares in the last quarter. Grove Bank & Trust grew its holdings in Enbridge by 56.7% in the third quarter. Grove Bank & Trust now owns 771 shares of the pipeline company’s stock worth $31,000 after purchasing an additional 279 shares during the period. MFA Wealth Advisors LLC increased its stake in shares of Enbridge by 55.6% during the third quarter. MFA Wealth Advisors LLC now owns 784 shares of the pipeline company’s stock valued at $32,000 after purchasing an additional 280 shares in the last quarter. Finally, Fortitude Family Office LLC purchased a new position in shares of Enbridge during the third quarter valued at approximately $35,000. 54.60% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently weighed in on ENB shares. Jefferies Financial Group downgraded Enbridge from a “buy” rating to a “hold” rating in a research note on Monday, September 30th. TD Securities assumed coverage on Enbridge in a report on Wednesday, January 15th. They set a “buy” rating for the company. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $63.00 price target (up previously from $59.00) on shares of Enbridge in a research report on Wednesday, December 4th. Morgan Stanley started coverage on shares of Enbridge in a research note on Friday, October 25th. They set an “equal weight” rating for the company. Finally, Wells Fargo & Company upgraded shares of Enbridge from an “underweight” rating to an “equal weight” rating in a research note on Wednesday, November 6th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $63.00.

Enbridge Stock Performance

Shares of ENB stock opened at $45.35 on Wednesday. The company has a quick ratio of 0.54, a current ratio of 0.62 and a debt-to-equity ratio of 1.41. The company has a 50 day moving average price of $42.79 and a 200-day moving average price of $40.66. Enbridge Inc. has a 52 week low of $32.85 and a 52 week high of $45.78. The firm has a market capitalization of $98.79 billion, a PE ratio of 21.00, a P/E/G ratio of 4.13 and a beta of 0.93.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its earnings results on Friday, November 1st. The pipeline company reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.40 by $0.15. The business had revenue of $10.91 billion during the quarter, compared to analyst estimates of $4.54 billion. Enbridge had a net margin of 13.54% and a return on equity of 9.94%. During the same period in the previous year, the business earned $0.46 EPS. As a group, equities research analysts expect that Enbridge Inc. will post 1.97 earnings per share for the current year.

Enbridge Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Saturday, February 15th will be given a $0.67 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.68 annualized dividend and a yield of 5.91%. Enbridge’s payout ratio is 121.76%.

Enbridge Company Profile

Enbridge Inc, together with its subsidiaries, operates as an energy infrastructure company. The company operates through five segments: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution and Storage, Renewable Power Generation, and Energy Services. The Liquids Pipelines segment operates pipelines and related terminals to transport various grades of crude oil and other liquid hydrocarbons in Canada and the United States.