M&T Bank Corp Reduces Position in Enbridge Inc. (NYSE:ENB)

M&T Bank Corp lowered its stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 0.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 283,767 shares of the pipeline company’s stock after selling 1,069 shares during the period. M&T Bank Corp’s holdings in Enbridge were worth $10,221,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its position in Enbridge by 5.7% during the third quarter. Vanguard Group Inc. now owns 81,491,857 shares of the pipeline company’s stock valued at $2,704,715,000 after purchasing an additional 4,400,848 shares during the period. Wellington Management Group LLP grew its holdings in Enbridge by 630.3% during the third quarter. Wellington Management Group LLP now owns 32,531,108 shares of the pipeline company’s stock worth $1,083,938,000 after acquiring an additional 28,076,386 shares during the period. TD Asset Management Inc raised its position in Enbridge by 2.2% during the third quarter. TD Asset Management Inc now owns 30,213,082 shares of the pipeline company’s stock valued at $1,006,729,000 after acquiring an additional 664,057 shares in the last quarter. Bank of Nova Scotia lifted its holdings in Enbridge by 5.1% in the third quarter. Bank of Nova Scotia now owns 28,085,040 shares of the pipeline company’s stock valued at $931,516,000 after acquiring an additional 1,353,753 shares during the period. Finally, CIBC Asset Management Inc grew its stake in shares of Enbridge by 11.3% during the 3rd quarter. CIBC Asset Management Inc now owns 20,717,604 shares of the pipeline company’s stock worth $689,270,000 after purchasing an additional 2,101,021 shares during the period. 54.60% of the stock is owned by hedge funds and other institutional investors.

Enbridge Stock Down 0.2 %

ENB stock opened at $36.34 on Monday. The company has a current ratio of 0.83, a quick ratio of 0.74 and a debt-to-equity ratio of 1.30. The firm has a 50-day moving average of $35.32 and a two-hundred day moving average of $34.95. The company has a market cap of $77.26 billion, a price-to-earnings ratio of 17.30, a PEG ratio of 3.43 and a beta of 0.83. Enbridge Inc. has a 12 month low of $31.03 and a 12 month high of $40.30.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings data on Friday, February 9th. The pipeline company reported $0.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.03). Enbridge had a return on equity of 10.23% and a net margin of 13.97%. The business had revenue of $8.37 billion for the quarter, compared to analyst estimates of $9.62 billion. As a group, analysts forecast that Enbridge Inc. will post 2.12 earnings per share for the current fiscal year.

Enbridge Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Saturday, June 1st. Investors of record on Wednesday, May 15th will be paid a dividend of $0.677 per share. This is a positive change from Enbridge’s previous quarterly dividend of $0.66. The ex-dividend date is Tuesday, May 14th. This represents a $2.71 annualized dividend and a yield of 7.45%. Enbridge’s dividend payout ratio is presently 129.05%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on ENB shares. Stifel Nicolaus started coverage on shares of Enbridge in a report on Thursday, January 18th. They set a “hold” rating for the company. Jefferies Financial Group started coverage on shares of Enbridge in a report on Tuesday, February 27th. They set a “buy” rating for the company. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $55.20.

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.