Norway Savings Bank Trims Stock Position in Enbridge Inc. (NYSE:ENB)

Norway Savings Bank trimmed its stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 15.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,481 shares of the pipeline company’s stock after selling 1,916 shares during the period. Norway Savings Bank’s holdings in Enbridge were worth $379,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. BOK Financial Private Wealth Inc. acquired a new stake in shares of Enbridge during the fourth quarter worth about $25,000. Baystate Wealth Management LLC increased its position in Enbridge by 836.4% during the fourth quarter. Baystate Wealth Management LLC now owns 721 shares of the pipeline company’s stock worth $26,000 after buying an additional 644 shares during the period. Tennessee Valley Asset Management Partners purchased a new stake in Enbridge in the fourth quarter valued at approximately $28,000. Financial Gravity Asset Management Inc. boosted its holdings in shares of Enbridge by 2,294.6% in the third quarter. Financial Gravity Asset Management Inc. now owns 886 shares of the pipeline company’s stock valued at $29,000 after acquiring an additional 849 shares during the period. Finally, PFS Partners LLC grew its position in shares of Enbridge by 95.8% during the first quarter. PFS Partners LLC now owns 922 shares of the pipeline company’s stock worth $33,000 after acquiring an additional 451 shares during the last quarter. 54.60% of the stock is currently owned by institutional investors and hedge funds.

Enbridge Stock Up 0.9 %

ENB stock opened at $35.59 on Friday. The company has a market cap of $75.95 billion, a price-to-earnings ratio of 18.07, a price-to-earnings-growth ratio of 3.31 and a beta of 0.90. The company has a fifty day moving average price of $36.01 and a 200 day moving average price of $35.63. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.68 and a quick ratio of 0.59. Enbridge Inc. has a 12 month low of $31.03 and a 12 month high of $38.37.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its earnings results on Friday, May 10th. The pipeline company reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.09. Enbridge had a net margin of 13.59% and a return on equity of 10.53%. The business had revenue of $8.19 billion during the quarter, compared to the consensus estimate of $9 billion. Sell-side analysts expect that Enbridge Inc. will post 2.13 earnings per share for the current year.

Enbridge Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Saturday, June 1st. Stockholders of record on Wednesday, May 15th were issued a $0.677 dividend. The ex-dividend date of this dividend was Tuesday, May 14th. This represents a $2.71 dividend on an annualized basis and a dividend yield of 7.61%. This is a positive change from Enbridge’s previous quarterly dividend of $0.66. Enbridge’s payout ratio is presently 136.04%.

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.