STAR Financial Bank Decreases Stock Position in Enbridge Inc. (NYSE:ENB)

STAR Financial Bank trimmed its position in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 8.8% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,866 shares of the pipeline company’s stock after selling 565 shares during the quarter. STAR Financial Bank’s holdings in Enbridge were worth $238,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Swiss National Bank grew its holdings in Enbridge by 3.2% during the 3rd quarter. Swiss National Bank now owns 6,585,231 shares of the pipeline company’s stock valued at $267,935,000 after purchasing an additional 207,200 shares during the last quarter. Pinnacle Financial Partners Inc grew its stake in shares of Enbridge by 8.8% during the third quarter. Pinnacle Financial Partners Inc now owns 188,244 shares of the pipeline company’s stock valued at $7,650,000 after buying an additional 15,207 shares during the last quarter. Stonegate Investment Group LLC lifted its stake in shares of Enbridge by 66.5% during the 3rd quarter. Stonegate Investment Group LLC now owns 33,833 shares of the pipeline company’s stock worth $1,374,000 after acquiring an additional 13,515 shares during the last quarter. CIBC Asset Management Inc boosted its holdings in Enbridge by 4.0% during 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 during the period. Finally, Lindbrook Capital LLC grew its position in Enbridge by 816.2% in the 3rd quarter. Lindbrook Capital LLC now owns 21,714 shares of the pipeline company’s stock valued at $882,000 after acquiring an additional 19,344 shares during the last quarter. Institutional investors own 54.60% of the company’s stock.

Enbridge Stock Performance

ENB stock opened at $42.79 on Thursday. Enbridge Inc. has a 1-year low of $32.85 and a 1-year high of $43.31. The business has a 50-day moving average price of $41.29 and a 200 day moving average price of $38.59. The company has a market capitalization of $93.19 billion, a P/E ratio of 19.81, a PEG ratio of 4.18 and a beta of 0.93. The company has a debt-to-equity ratio of 1.41, a current ratio of 0.62 and a quick ratio of 0.54.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings results on Friday, November 1st. The pipeline company reported $0.55 EPS for the quarter, beating the consensus estimate of $0.40 by $0.15. Enbridge had a net margin of 13.54% and a return on equity of 9.94%. The business had revenue of $10.91 billion during the quarter, compared to analyst estimates of $4.54 billion. During the same quarter in the previous year, the business posted $0.46 EPS. As a group, equities research analysts forecast that Enbridge Inc. will post 2.06 EPS for the current fiscal year.

Enbridge Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Friday, November 15th will be issued a $0.676 dividend. The ex-dividend date is Friday, November 15th. This is an increase from Enbridge’s previous quarterly dividend of $0.67. This represents a $2.70 dividend on an annualized basis and a dividend yield of 6.32%. Enbridge’s dividend payout ratio (DPR) is currently 121.76%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on ENB shares. Wells Fargo & Company upgraded Enbridge from an “underweight” rating to an “equal weight” rating in a research report on Wednesday, November 6th. Jefferies Financial Group lowered shares of Enbridge from a “buy” rating to a “hold” rating in a research report on Monday, September 30th. Finally, Morgan Stanley started coverage on Enbridge in a report on Friday, October 25th. They issued an “equal weight” rating for the company.

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.