Fulton Bank N.A. Sells 1,054 Shares of Enbridge Inc. (NYSE:ENB)

Fulton Bank N.A. cut its position in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 1.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 64,713 shares of the pipeline company’s stock after selling 1,054 shares during the quarter. Fulton Bank N.A.’s holdings in Enbridge were worth $2,746,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Legend Financial Advisors Inc. bought a new position in shares of Enbridge during the 4th quarter worth approximately $42,000. Canandaigua National Bank & Trust Co. lifted its holdings in Enbridge by 1.3% during the 4th quarter. Canandaigua National Bank & Trust Co. now owns 23,472 shares of the pipeline company’s stock valued at $996,000 after purchasing an additional 306 shares during the last quarter. Bard Financial Services Inc. boosted its position in Enbridge by 0.6% during the fourth quarter. Bard Financial Services Inc. now owns 124,290 shares of the pipeline company’s stock worth $5,273,000 after purchasing an additional 700 shares during the period. CWA Asset Management Group LLC increased its holdings in shares of Enbridge by 7.3% in the fourth quarter. CWA Asset Management Group LLC now owns 29,183 shares of the pipeline company’s stock valued at $1,238,000 after purchasing an additional 1,993 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its position in shares of Enbridge by 1.1% in the third quarter. JPMorgan Chase & Co. now owns 16,142,638 shares of the pipeline company’s stock valued at $655,556,000 after purchasing an additional 176,733 shares during the period. 54.60% of the stock is currently owned by institutional investors and hedge funds.

Enbridge Price Performance

Shares of NYSE ENB traded up $0.23 during trading hours on Wednesday, hitting $43.87. 1,350,115 shares of the stock were exchanged, compared to its average volume of 2,494,070. The company’s fifty day simple moving average is $42.30 and its two-hundred day simple moving average is $40.12. The company has a market cap of $95.56 billion, a PE ratio of 20.31, a price-to-earnings-growth ratio of 4.14 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. Enbridge Inc. has a 1-year low of $32.85 and a 1-year high of $44.13.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its earnings results on Friday, November 1st. The pipeline company reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.40 by $0.15. Enbridge had a return on equity of 9.94% and a net margin of 13.54%. The firm had revenue of $10.91 billion for the quarter, compared to the consensus estimate of $4.54 billion. During the same quarter last year, the business posted $0.46 EPS. On average, sell-side analysts predict that Enbridge Inc. will post 2.03 EPS for the current year.

Enbridge Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Saturday, February 15th will be given a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a yield of 6.11%. The ex-dividend date is Friday, February 14th. Enbridge’s dividend payout ratio is 124.07%.

Wall Street Analyst Weigh In

ENB has been the subject of several recent research reports. Royal Bank of Canada restated an “outperform” rating and issued a $63.00 price target (up from $59.00) on shares of Enbridge in a research note on Wednesday, December 4th. Wells Fargo & Company raised shares of Enbridge from an “underweight” rating to an “equal weight” rating in a research report on Wednesday, November 6th. Morgan Stanley started coverage on shares of Enbridge in a research report on Friday, October 25th. They set an “equal weight” rating on the stock. Finally, Jefferies Financial Group lowered shares of Enbridge from a “buy” rating to a “hold” rating in a research report on Monday, September 30th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus 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.