Wesbanco Bank Inc. Sells 503 Shares of Enbridge Inc. (NYSE:ENB)

Wesbanco Bank Inc. lessened its position in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 4.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,902 shares of the pipeline company’s stock after selling 503 shares during the quarter. Wesbanco Bank Inc.’s holdings in Enbridge were worth $505,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of ENB. Armstrong Advisory Group Inc. increased its holdings in Enbridge by 3.2% in the 4th quarter. Armstrong Advisory Group Inc. now owns 7,508 shares of the pipeline company’s stock valued at $319,000 after buying an additional 230 shares during the period. Eagle Bay Advisors LLC increased its stake in Enbridge by 10.6% in the fourth quarter. Eagle Bay Advisors LLC now owns 2,507 shares of the pipeline company’s stock valued at $106,000 after acquiring an additional 240 shares during the period. Richardson Financial Services Inc. raised its position in Enbridge by 28.4% in the third quarter. Richardson Financial Services Inc. now owns 1,112 shares of the pipeline company’s stock worth $45,000 after purchasing an additional 246 shares in the last quarter. Associated Banc Corp lifted its stake in Enbridge by 3.6% during the third quarter. Associated Banc Corp now owns 7,091 shares of the pipeline company’s stock worth $288,000 after purchasing an additional 248 shares during the period. Finally, Hobbs Group Advisors LLC boosted its holdings in Enbridge by 15.1% during the third quarter. Hobbs Group Advisors LLC now owns 1,897 shares of the pipeline company’s stock valued at $77,000 after purchasing an additional 249 shares in the last quarter. 54.60% of the stock is currently owned by institutional investors.

Enbridge Price Performance

Enbridge stock opened at $45.08 on Friday. Enbridge Inc. has a 52 week low of $32.85 and a 52 week high of $45.78. The firm has a market cap of $98.19 billion, a P/E ratio of 20.87, a P/E/G ratio of 4.15 and a beta of 0.93. 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 business’s fifty day moving average is $42.93 and its two-hundred day moving average is $40.79.

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

Enbridge Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Saturday, February 15th will be issued a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a dividend yield of 5.95%. The ex-dividend date of this dividend is Friday, February 14th. Enbridge’s dividend payout ratio is currently 124.07%.

Wall Street Analyst Weigh In

Several research firms recently commented on ENB. Morgan Stanley started coverage on Enbridge in a research report on Friday, October 25th. They set an “equal weight” rating for the company. TD Securities began coverage on shares of Enbridge in a research note on Wednesday, January 15th. They issued a “buy” rating on the stock. Jefferies Financial Group lowered shares of Enbridge from a “buy” rating to a “hold” rating in a report on Monday, September 30th. 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 report on Wednesday, December 4th. Finally, Wells Fargo & Company raised shares of Enbridge from an “underweight” rating to an “equal weight” rating in a research note 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. According to data from MarketBeat, Enbridge has a consensus rating of “Hold” and an average target price of $63.00.

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.