Trust Co. of Toledo NA OH Sells 913 Shares of Enbridge Inc. (NYSE:ENB)

Trust Co. of Toledo NA OH trimmed its holdings in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 6.2% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 13,731 shares of the pipeline company’s stock after selling 913 shares during the quarter. Trust Co. of Toledo NA OH’s holdings in Enbridge were worth $583,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. CIBC Asset Management Inc raised its stake in shares of Enbridge by 4.0% during the third quarter. CIBC Asset Management Inc now owns 24,161,024 shares of the pipeline company’s stock worth $984,205,000 after buying an additional 936,863 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC raised its stake in shares of Enbridge by 3.7% during the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 23,083,951 shares of the pipeline company’s stock worth $821,331,000 after buying an additional 827,540 shares during the last quarter. Toronto Dominion Bank raised its stake in shares of Enbridge by 3.6% during the second quarter. Toronto Dominion Bank now owns 18,703,423 shares of the pipeline company’s stock worth $665,655,000 after buying an additional 644,526 shares during the last quarter. National Bank of Canada FI raised its stake in shares of Enbridge by 12.8% during the third quarter. National Bank of Canada FI now owns 18,163,353 shares of the pipeline company’s stock worth $737,754,000 after buying an additional 2,061,758 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its stake in shares of Enbridge by 1.1% during the third quarter. JPMorgan Chase & Co. now owns 16,142,638 shares of the pipeline company’s stock worth $655,556,000 after buying an additional 176,733 shares during the last quarter. 54.60% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on ENB shares. Royal Bank of Canada reissued an “outperform” rating and set a $63.00 price target (up from $59.00) on shares of Enbridge in a research note on Wednesday, December 4th. Wells Fargo & Company upgraded shares of Enbridge from an “underweight” rating to an “equal weight” rating in a report on Wednesday, November 6th. Jefferies Financial Group cut shares of Enbridge from a “buy” rating to a “hold” rating in a report on Monday, September 30th. Finally, Morgan Stanley initiated coverage on shares of Enbridge in a report on Friday, October 25th. They set an “equal weight” rating for the company. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $63.00.

Enbridge Stock Down 0.3 %

Shares of NYSE ENB opened at $43.36 on Tuesday. The stock has a market cap of $94.45 billion, a P/E ratio of 20.07, a P/E/G ratio of 4.14 and a beta of 0.93. Enbridge Inc. has a 52-week low of $32.85 and a 52-week high of $44.13. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.54 and a current ratio of 0.62. The firm has a 50 day moving average price of $42.56 and a 200 day moving average price of $40.36.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings results on Friday, November 1st. The pipeline company reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.15. The company had revenue of $10.91 billion during 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 quarter in the prior year, the company earned $0.46 earnings per share. Analysts expect that Enbridge Inc. will post 2.03 EPS for the current year.

Enbridge Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Saturday, February 15th will be issued a $0.67 dividend. This represents a $2.68 annualized dividend and a dividend yield of 6.18%. The ex-dividend date of this dividend is Friday, February 14th. Enbridge’s dividend payout ratio (DPR) is presently 124.07%.

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.