Truist Financial Corp Sells 16,301 Shares of Enbridge Inc $ENB

Key Points

• Truist Financial Corp sold 16,301 shares of Enbridge Inc, reducing its holdings by 1.9%, resulting in ownership of 835,793 shares valued at approximately $37.9 million.
• Enbridge recently declared a quarterly dividend of $0.6839 per share, representing a slight increase from the previous dividend and yielding 5.5% annually.
• Investment analysts have mixed ratings for Enbridge, with six analysts rating it as a "Buy" and others giving it a "Hold" or "Sell" rating; the average price target is $60.50.

Truist Financial Corp lowered its position in Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB by 1.9% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 835,793 shares of the pipeline company's stock after selling 16,301 shares during the period. Truist Financial Corp's holdings in Enbridge were worth $37,878,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of ENB. Raleigh Capital Management Inc. increased its position in shares of Enbridge by 1.5% during the second quarter. Raleigh Capital Management Inc. now owns 48,176 shares of the pipeline company's stock worth $2,183,000 after purchasing an additional 710 shares in the last quarter. LexAurum Advisors LLC grew its stake in Enbridge by 5.1% during the 2nd quarter. LexAurum Advisors LLC now owns 6,437 shares of the pipeline company's stock worth $292,000 after buying an additional 311 shares during the last quarter. Sound Income Strategies LLC increased its position in Enbridge by 6.0% during the 2nd quarter. Sound Income Strategies LLC now owns 692,416 shares of the pipeline company's stock valued at $31,380,000 after buying an additional 39,023 shares in the last quarter. Smith Salley Wealth Management increased its position in Enbridge by 3.8% during the 2nd quarter. Smith Salley Wealth Management now owns 66,385 shares of the pipeline company's stock valued at $3,009,000 after buying an additional 2,400 shares in the last quarter. Finally, Tempus Wealth Planning LLC purchased a new stake in Enbridge in the second quarter valued at about $200,000. Hedge funds and other institutional investors own 54.60% of the company's stock.

Analyst Ratings Changes

ENB has been the topic of a number of research analyst reports. National Bankshares restated a "sector perform" rating on shares of Enbridge in a research note on Tuesday, August 5th. Jefferies Financial Group raised shares of Enbridge from a "hold" rating to a "buy" rating in a research report on Wednesday, July 23rd. Argus raised their price target on shares of Enbridge from $50.00 to $54.00 and gave the stock a "buy" rating in a report on Tuesday, August 12th. Wall Street Zen downgraded shares of Enbridge from a "hold" rating to a "sell" rating in a research note on Sunday, September 21st. Finally, Zacks Research downgraded Enbridge from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, September 17th. Six investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $60.50.

Enbridge Stock Up 0.2%

NYSE:ENB opened at $49.69 on Friday. The company has a debt-to-equity ratio of 1.58, a current ratio of 0.75 and a quick ratio of 0.65. The company's fifty day moving average price is $47.96 and its 200-day moving average price is $46.04. Enbridge Inc has a 1-year low of $39.73 and a 1-year high of $50.54. The firm has a market capitalization of $108.35 billion, a P/E ratio of 24.48, a PEG ratio of 4.54 and a beta of 0.78.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last announced its quarterly earnings results on Friday, August 1st. The pipeline company reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.06. The company had revenue of $7.14 billion for the quarter, compared to the consensus estimate of $10.56 billion. Enbridge had a return on equity of 10.77% and a net margin of 10.11%.During the same period last year, the firm earned $0.58 EPS. As a group, equities research analysts anticipate that Enbridge Inc will post 2.14 EPS for the current year.

Enbridge Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 1st. Investors of record on Friday, August 15th were given a dividend of $0.6839 per share. This is an increase from Enbridge's previous quarterly dividend of $0.68. This represents a $2.74 annualized dividend and a yield of 5.5%. The ex-dividend date was Friday, August 15th. Enbridge's dividend payout ratio (DPR) is 134.98%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.