Fulton Bank N.A. Cuts Position in Enbridge Inc. (NYSE:ENB)

Fulton Bank N.A. trimmed its position in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 1.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 68,986 shares of the pipeline company’s stock after selling 697 shares during the period. Fulton Bank N.A.’s holdings in Enbridge were worth $2,485,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. SVB Wealth LLC increased its stake in shares of Enbridge by 3.1% during the first quarter. SVB Wealth LLC now owns 9,781 shares of the pipeline company’s stock worth $373,000 after buying an additional 297 shares during the period. North Star Investment Management Corp. increased its stake in Enbridge by 24.6% in the fourth quarter. North Star Investment Management Corp. now owns 1,519 shares of the pipeline company’s stock valued at $55,000 after purchasing an additional 300 shares during the last quarter. Independence Bank of Kentucky increased its stake in Enbridge by 25.3% in the third quarter. Independence Bank of Kentucky now owns 1,681 shares of the pipeline company’s stock valued at $56,000 after purchasing an additional 339 shares during the last quarter. First Citizens Bank & Trust Co. increased its stake in Enbridge by 5.1% in the third quarter. First Citizens Bank & Trust Co. now owns 7,057 shares of the pipeline company’s stock valued at $234,000 after purchasing an additional 341 shares during the last quarter. Finally, Marino Stram & Associates LLC increased its stake in Enbridge by 1.6% in the third quarter. Marino Stram & Associates LLC now owns 21,685 shares of the pipeline company’s stock valued at $720,000 after purchasing an additional 344 shares during the last quarter. 54.60% of the stock is currently owned by hedge funds and other institutional investors.

Enbridge Stock Performance

Shares of ENB stock traded down $0.30 during trading hours on Friday, hitting $35.34. The stock had a trading volume of 3,643,710 shares, compared to its average volume of 5,423,229. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.83 and a quick ratio of 0.74. The stock’s 50 day moving average is $35.21 and its 200 day moving average is $34.64. Enbridge Inc. has a twelve month low of $31.03 and a twelve month high of $40.30. The firm has a market capitalization of $75.12 billion, a PE ratio of 16.83, a PEG ratio of 3.36 and a beta of 0.84.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings results on Friday, February 9th. The pipeline company reported $0.47 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.03). Enbridge had a return on equity of 10.23% and a net margin of 13.97%. The company had revenue of $8.37 billion for the quarter, compared to analyst estimates of $9.62 billion. As a group, research analysts forecast that Enbridge Inc. will post 2.13 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have commented on ENB. Stifel Nicolaus began coverage on shares of Enbridge in a research note on Thursday, January 18th. They issued a “hold” rating on the stock. Jefferies Financial Group initiated coverage on shares of Enbridge in a research note on Tuesday, February 27th. They issued a “buy” rating on the stock. Two equities 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 stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target 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.