Peoples Bank KS Has $1.57 Million Position in Enbridge Inc. (NYSE:ENB)

Peoples Bank KS decreased its position in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 0.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 38,757 shares of the pipeline company’s stock after selling 350 shares during the period. Peoples Bank KS’s holdings in Enbridge were worth $1,574,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Rockwood Wealth Management LLC increased its position in Enbridge by 2.6% during the 2nd quarter. Rockwood Wealth Management LLC now owns 11,107 shares of the pipeline company’s stock worth $395,000 after purchasing an additional 285 shares in the last quarter. Whittier Trust Co. of Nevada Inc. lifted its stake in shares of Enbridge by 3.7% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 8,269 shares of the pipeline company’s stock valued at $294,000 after acquiring an additional 298 shares during the last quarter. Nations Financial Group Inc. IA ADV boosted its holdings in shares of Enbridge by 1.7% during the 2nd quarter. Nations Financial Group Inc. IA ADV now owns 18,237 shares of the pipeline company’s stock valued at $649,000 after acquiring an additional 298 shares in the last quarter. Perigon Wealth Management LLC grew its holdings in shares of Enbridge by 3.7% during the first quarter. Perigon Wealth Management LLC now owns 8,827 shares of the pipeline company’s stock worth $319,000 after purchasing an additional 314 shares during the last quarter. Finally, RFG Advisory LLC raised its holdings in Enbridge by 2.3% in the 2nd quarter. RFG Advisory LLC now owns 14,183 shares of the pipeline company’s stock valued at $505,000 after buying an additional 325 shares during the last quarter. 54.60% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Jefferies Financial Group cut shares of Enbridge from a “buy” rating to a “hold” rating in a research report on Monday. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $51.50.

Enbridge Trading Up 0.8 %

ENB traded up $0.33 during trading on Friday, reaching $41.08. 2,296,896 shares of the stock traded hands, compared to its average volume of 5,090,926. The company has a quick ratio of 0.68, a current ratio of 0.77 and a debt-to-equity ratio of 1.34. The stock’s 50-day moving average is $39.61 and its 200 day moving average is $37.11. Enbridge Inc. has a 12 month low of $31.17 and a 12 month high of $41.35. The stock has a market capitalization of $87.66 billion, a PE ratio of 20.81, a P/E/G ratio of 3.93 and a beta of 0.93.

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

Enbridge Cuts Dividend

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

Enbridge 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.