Hilltop National Bank Sells 2,300 Shares of Enbridge Inc. (NYSE:ENB)

Hilltop National Bank lowered its stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 39.6% in the 4th quarter, HoldingsChannel.com reports. The fund owned 3,506 shares of the pipeline company’s stock after selling 2,300 shares during the quarter. Hilltop National Bank’s holdings in Enbridge were worth $149,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Swiss National Bank increased its stake in shares of 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 in the last quarter. Duff & Phelps Investment Management Co. increased its stake in shares of 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 in the last quarter. Pinnacle Financial Partners Inc increased its stake in shares of 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 in the last quarter. Stonegate Investment Group LLC increased its stake in shares of Enbridge by 66.5% in the 3rd quarter. Stonegate Investment Group LLC now owns 33,833 shares of the pipeline company’s stock valued at $1,374,000 after acquiring an additional 13,515 shares in the last quarter. Finally, CIBC Asset Management Inc increased its stake in shares of Enbridge by 4.0% in the 3rd quarter. CIBC Asset Management Inc now owns 24,161,024 shares of the pipeline company’s stock valued at $984,205,000 after acquiring an additional 936,863 shares in the last quarter. Institutional investors own 54.60% of the company’s stock.

Enbridge Price Performance

ENB opened at $43.57 on Friday. The company has a debt-to-equity ratio of 1.41, a current ratio of 0.62 and a quick ratio of 0.54. The company has a market capitalization of $94.91 billion, a price-to-earnings ratio of 20.17, a P/E/G ratio of 4.14 and a beta of 0.93. The firm’s fifty day moving average price is $42.51 and its two-hundred day moving average price is $40.23. Enbridge Inc. has a 1 year low of $32.85 and a 1 year high of $44.13.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings data on Friday, November 1st. The pipeline company reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.40 by $0.15. The firm had revenue of $10.91 billion for the quarter, compared to the consensus estimate 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 firm earned $0.46 EPS. As a group, analysts anticipate that Enbridge Inc. will post 2.03 earnings per share for the current fiscal year.

Enbridge Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Saturday, February 15th will be issued a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a yield of 6.15%. The ex-dividend date is Friday, February 14th. Enbridge’s dividend payout ratio is 124.07%.

Wall Street Analyst Weigh In

A number of analysts have commented on ENB shares. 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. Jefferies Financial Group lowered shares of Enbridge from a “buy” rating to a “hold” rating in a research note on Monday, September 30th. Wells Fargo & Company upgraded shares of Enbridge from an “underweight” rating to an “equal weight” rating in a research note on Wednesday, November 6th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $63.00 price target (up previously from $59.00) on shares of Enbridge in a research note on Wednesday, December 4th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target 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.