First Citizens Bank & Trust Co. Sells 380 Shares of Enbridge Inc. (NYSE:ENB)

First Citizens Bank & Trust Co. lessened its stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 4.4% during the fourth quarter, Holdings Channel reports. The fund owned 8,307 shares of the pipeline company’s stock after selling 380 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in Enbridge were worth $352,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of ENB. William B. Walkup & Associates Inc. acquired a new position in shares of Enbridge during the second quarter valued at about $28,000. McIlrath & Eck LLC increased its position in Enbridge by 74.9% in the 3rd quarter. McIlrath & Eck LLC now owns 689 shares of the pipeline company’s stock valued at $28,000 after buying an additional 295 shares in the last quarter. Albion Financial Group UT acquired a new position in Enbridge during the 4th quarter worth approximately $29,000. Grove Bank & Trust boosted 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 acquiring an additional 279 shares in the last quarter. Finally, MFA Wealth Advisors LLC grew its stake in Enbridge by 55.6% in the third quarter. MFA Wealth Advisors LLC now owns 784 shares of the pipeline company’s stock valued at $32,000 after acquiring an additional 280 shares during the period. 54.60% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Royal Bank of Canada reiterated an “outperform” rating and issued a $63.00 target price (up from $59.00) on shares of Enbridge in a report on Wednesday, December 4th. Jefferies Financial Group lowered shares of Enbridge from a “buy” rating to a “hold” rating in a research note on Monday, September 30th. TD Securities began coverage on shares of Enbridge in a research report on Wednesday, January 15th. They set a “buy” rating for the company. Morgan Stanley initiated coverage on shares of Enbridge in a research report on Friday, October 25th. They issued an “equal weight” rating on the stock. Finally, Wells Fargo & Company raised Enbridge from an “underweight” rating to an “equal weight” rating in a report on Wednesday, November 6th. Three 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, Enbridge has a consensus rating of “Hold” and a consensus price target of $63.00.

Enbridge Stock Performance

Shares of ENB stock opened at $44.72 on Tuesday. 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 firm has a 50-day moving average of $42.99 and a 200-day moving average of $40.93. Enbridge Inc. has a one year low of $32.85 and a one year high of $45.78. The company has a market cap of $97.41 billion, a P/E ratio of 20.70, a P/E/G ratio of 4.15 and a beta of 0.93.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings data on Friday, November 1st. The pipeline company reported $0.55 EPS for the quarter, beating the consensus estimate of $0.40 by $0.15. The firm 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 quarter last year, the business posted $0.46 EPS. Equities research analysts forecast that Enbridge Inc. will post 1.97 EPS for the current fiscal year.

Enbridge Cuts Dividend

The firm also recently disclosed 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 is Friday, February 14th. This represents a $2.68 annualized dividend and a yield of 5.99%. Enbridge’s dividend payout ratio is currently 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.