PNC Financial Services Group Inc. Lowers Position in Enbridge Inc (NYSE:ENB)

PNC Financial Services Group Inc. trimmed its stake in shares of Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB by 9.0% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 350,707 shares of the pipeline company's stock after selling 34,755 shares during the period. PNC Financial Services Group Inc.'s holdings in Enbridge were worth $15,540,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC lifted its stake in Enbridge by 6.1% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 438,557 shares of the pipeline company's stock worth $19,431,000 after purchasing an additional 25,071 shares in the last quarter. Greenland Capital Management LP lifted its stake in Enbridge by 189.1% in the 4th quarter. Greenland Capital Management LP now owns 35,410 shares of the pipeline company's stock worth $1,502,000 after purchasing an additional 23,160 shares in the last quarter. Canada Pension Plan Investment Board increased its stake in Enbridge by 20.0% in the 4th quarter. Canada Pension Plan Investment Board now owns 6,818,919 shares of the pipeline company's stock worth $289,044,000 after acquiring an additional 1,135,000 shares during the last quarter. Scotia Capital Inc. increased its stake in Enbridge by 1.4% in the 4th quarter. Scotia Capital Inc. now owns 14,500,982 shares of the pipeline company's stock worth $614,763,000 after acquiring an additional 193,463 shares during the last quarter. Finally, Hartline Investment Corp increased its stake in Enbridge by 31.3% in the 1st quarter. Hartline Investment Corp now owns 36,098 shares of the pipeline company's stock worth $1,600,000 after acquiring an additional 8,610 shares during the last quarter. 54.60% of the stock is currently owned by institutional investors.

Enbridge Price Performance

ENB opened at $46.65 on Tuesday. The business has a fifty day moving average of $45.40 and a 200 day moving average of $44.57. Enbridge Inc has a 52-week low of $36.50 and a 52-week high of $47.44. The company has a quick ratio of 0.66, a current ratio of 0.73 and a debt-to-equity ratio of 1.51. The stock has a market cap of $101.71 billion, a P/E ratio of 22.98, a PEG ratio of 4.30 and a beta of 0.79.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last posted its quarterly earnings data on Friday, August 1st. The pipeline company reported $0.47 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.41 by $0.06. Enbridge had a return on equity of 10.73% and a net margin of 10.11%. The company had revenue of $7.14 billion during the quarter, compared to analysts' expectations of $10.56 billion. During the same quarter in the previous year, the business earned $0.58 EPS. As a group, sell-side analysts anticipate that Enbridge Inc will post 2.14 EPS for the current year.

Enbridge Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 1st. Investors of record on Friday, August 15th will be issued a dividend of $0.6839 per share. This represents a $2.74 dividend on an annualized basis and a yield of 5.9%. The ex-dividend date is Friday, August 15th. This is an increase from Enbridge's previous quarterly dividend of $0.68. Enbridge's dividend payout ratio (DPR) is presently 140.21%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on ENB shares. Jefferies Financial Group raised Enbridge from a "hold" rating to a "buy" rating in a research note on Wednesday, July 23rd. BMO Capital Markets reaffirmed a "market perform" rating on shares of Enbridge in a research note on Monday, May 12th. Wall Street Zen raised Enbridge from a "sell" rating to a "hold" rating in a research note on Thursday, May 22nd. National Bankshares reaffirmed a "sector perform" rating on shares of Enbridge in a research note on Monday, May 12th. Finally, Royal Bank Of Canada reiterated an "outperform" rating and issued a $67.00 target price on shares of Enbridge in a report on Monday, May 12th. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $67.00.

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.

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