Canandaigua National Bank & Trust Co. Grows Position in Enbridge Inc. (NYSE:ENB)

Canandaigua National Bank & Trust Co. lifted its position in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 2.4% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 23,166 shares of the pipeline company’s stock after purchasing an additional 540 shares during the quarter. Canandaigua National Bank & Trust Co.’s holdings in Enbridge were worth $941,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ENB. Rockwood Wealth Management LLC grew its stake in Enbridge by 2.6% during the second quarter. Rockwood Wealth Management LLC now owns 11,107 shares of the pipeline company’s stock worth $395,000 after buying an additional 285 shares during the period. Whittier Trust Co. of Nevada Inc. lifted its stake in shares of Enbridge by 3.7% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 8,269 shares of the pipeline company’s stock worth $294,000 after purchasing an additional 298 shares in the last quarter. Nations Financial Group Inc. IA ADV boosted its position in shares of Enbridge by 1.7% in the second quarter. Nations Financial Group Inc. IA ADV now owns 18,237 shares of the pipeline company’s stock worth $649,000 after buying an additional 298 shares during the period. Perigon Wealth Management LLC grew its stake in shares of Enbridge by 3.7% in the first quarter. Perigon Wealth Management LLC now owns 8,827 shares of the pipeline company’s stock valued at $319,000 after buying an additional 314 shares in the last quarter. Finally, RFG Advisory LLC lifted its position in Enbridge by 2.3% during the 2nd quarter. RFG Advisory LLC now owns 14,183 shares of the pipeline company’s stock worth $505,000 after acquiring an additional 325 shares in the last quarter. Institutional investors and hedge funds own 54.60% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Jefferies Financial Group downgraded shares of Enbridge from a “buy” rating to a “hold” rating in a research report on Monday, September 30th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $51.50.

Enbridge Stock Up 0.8 %

Shares of NYSE ENB traded up $0.33 during midday trading on Friday, reaching $41.08. 2,297,430 shares of the company’s stock were exchanged, compared to its average volume of 5,090,926. Enbridge Inc. has a 52-week low of $31.17 and a 52-week high of $41.35. The stock has a market capitalization of $87.66 billion, a PE ratio of 20.85, a price-to-earnings-growth ratio of 3.93 and a beta of 0.93. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.68 and a current ratio of 0.77. The business’s fifty day moving average price is $39.70 and its two-hundred day moving average price is $37.15.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its earnings results on Friday, August 2nd. The pipeline company reported $0.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.45 by $0.13. Enbridge had a return on equity of 10.07% and a net margin of 13.31%. The business had revenue of $8.29 billion for the quarter, compared to analyst estimates of $4.28 billion. During the same period in the previous year, the company earned $0.51 earnings per share. Analysts forecast that Enbridge Inc. will post 2.08 EPS for the current year.

Enbridge Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Thursday, August 15th were given a dividend of $0.669 per share. This represents a $2.68 dividend on an annualized basis and a dividend yield of 6.51%. The ex-dividend date of this dividend was Thursday, August 15th. Enbridge’s payout ratio is 134.01%.

About Enbridge

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.