UMB Bank n.a. Sells 1,156 Shares of Enbridge Inc. (NYSE:ENB)

UMB Bank n.a. decreased its position in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 5.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 21,949 shares of the pipeline company’s stock after selling 1,156 shares during the quarter. UMB Bank n.a.’s holdings in Enbridge were worth $891,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in ENB. M&G Plc bought a new stake in Enbridge in the 1st quarter worth approximately $152,843,000. Cibc World Market Inc. increased its stake in Enbridge by 12.8% in the 2nd quarter. Cibc World Market Inc. now owns 32,531,675 shares of the pipeline company’s stock worth $1,157,802,000 after acquiring an additional 3,693,495 shares during the last quarter. Canada Pension Plan Investment Board increased its stake in Enbridge by 66.9% in the 1st quarter. Canada Pension Plan Investment Board now owns 9,044,864 shares of the pipeline company’s stock worth $327,172,000 after acquiring an additional 3,624,089 shares during the last quarter. National Bank of Canada FI boosted its holdings in shares of Enbridge by 11.3% in the 1st quarter. National Bank of Canada FI now owns 21,664,748 shares of the pipeline company’s stock worth $818,370,000 after purchasing an additional 2,203,123 shares during the period. Finally, Vanguard Group Inc. boosted its holdings in shares of Enbridge by 1.9% in the 4th quarter. Vanguard Group Inc. now owns 83,053,455 shares of the pipeline company’s stock worth $2,991,585,000 after purchasing an additional 1,561,598 shares during the period. Institutional investors own 54.60% of the company’s stock.

Enbridge Price Performance

Shares of Enbridge stock opened at $41.09 on Friday. The stock has a market cap of $87.68 billion, a price-to-earnings ratio of 20.86, a price-to-earnings-growth ratio of 3.94 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 stock has a 50 day moving average price of $40.05 and a 200-day moving average price of $37.33. Enbridge Inc. has a one year low of $31.31 and a one year high of $41.35.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings data on Friday, August 2nd. The pipeline company reported $0.58 earnings per share (EPS) for the quarter, beating 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 company had revenue of $8.29 billion during the quarter, compared to analysts’ expectations of $4.28 billion. During the same quarter in the previous year, the business earned $0.51 EPS. Equities analysts expect that Enbridge Inc. will post 2.08 EPS for the current year.

Enbridge Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Thursday, August 15th were issued 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 was Thursday, August 15th. Enbridge’s payout ratio is currently 134.01%.

Wall Street Analysts Forecast Growth

Separately, Jefferies Financial Group cut Enbridge from a “buy” rating to a “hold” rating in a report on Monday, September 30th. Two analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $51.50.

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.