OLD Second National Bank of Aurora Cuts Stake in Enbridge Inc. (NYSE:ENB)

OLD Second National Bank of Aurora reduced its stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 2.4% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 48,943 shares of the pipeline company’s stock after selling 1,190 shares during the quarter. OLD Second National Bank of Aurora’s holdings in Enbridge were worth $2,077,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ENB. Swiss National Bank raised its stake in Enbridge by 3.2% in the 3rd quarter. Swiss National Bank now owns 6,585,231 shares of the pipeline company’s stock valued at $267,935,000 after acquiring an additional 207,200 shares during the period. Wealth Enhancement Advisory Services LLC raised its stake in Enbridge by 70.7% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 1,296,374 shares of the pipeline company’s stock valued at $52,648,000 after acquiring an additional 536,818 shares during the period. Duff & Phelps Investment Management Co. raised its stake in Enbridge by 32.6% in the 3rd quarter. Duff & Phelps Investment Management Co. now owns 1,302,132 shares of the pipeline company’s stock valued at $52,880,000 after acquiring an additional 319,907 shares during the period. Sound Income Strategies LLC raised its stake in Enbridge by 8.6% in the 4th quarter. Sound Income Strategies LLC now owns 631,820 shares of the pipeline company’s stock valued at $26,808,000 after acquiring an additional 49,800 shares during the period. Finally, Pinnacle Financial Partners Inc raised its stake in Enbridge by 8.8% in the 3rd quarter. Pinnacle Financial Partners Inc now owns 188,244 shares of the pipeline company’s stock valued at $7,650,000 after acquiring an additional 15,207 shares during the period. 54.60% of the stock is owned by hedge funds and other institutional investors.

Enbridge Trading Down 0.4 %

Shares of ENB opened at $44.29 on Thursday. The business’s 50-day moving average price is $43.06 and its 200-day moving average price is $41.05. Enbridge Inc. has a twelve month low of $32.85 and a twelve month high of $45.78. The stock has a market cap of $96.47 billion, a PE ratio of 20.50, a P/E/G ratio of 4.15 and a beta of 0.93. The company has a quick ratio of 0.54, a current ratio of 0.62 and a debt-to-equity ratio of 1.41.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings data on Friday, November 1st. The pipeline company reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.15. The company had revenue of $10.91 billion for the quarter, compared to analysts’ expectations 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 prior year, the business earned $0.46 earnings per share. On average, equities analysts forecast that Enbridge Inc. will post 1.97 EPS for the current fiscal year.

Enbridge Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Saturday, February 15th will be given a $0.67 dividend. This represents a $2.68 annualized dividend and a dividend yield of 6.05%. The ex-dividend date is Friday, February 14th. Enbridge’s dividend payout ratio (DPR) is 121.76%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on ENB shares. Royal Bank of Canada restated an “outperform” rating and issued a $63.00 price objective (up from $59.00) on shares of Enbridge in a research note on Wednesday, December 4th. Wells Fargo & Company upgraded Enbridge from an “underweight” rating to an “equal weight” rating in a research report on Wednesday, November 6th. TD Securities initiated coverage on Enbridge in a research report on Wednesday, January 15th. They set a “buy” rating on the stock. Finally, Morgan Stanley initiated coverage on Enbridge in a research report on Friday, October 25th. They set an “equal weight” rating on the stock. 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 data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $63.00.

Enbridge 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.