Truist Financial Corp Has $37.76 Million Stock Holdings in Enbridge Inc (NYSE:ENB)

Truist Financial Corp decreased its holdings in shares of Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB by 4.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 852,094 shares of the pipeline company's stock after selling 37,883 shares during the quarter. Truist Financial Corp's holdings in Enbridge were worth $37,756,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in ENB. Norges Bank acquired a new position in Enbridge during the 4th quarter valued at $909,415,000. Arrowstreet Capital Limited Partnership boosted its holdings in Enbridge by 396.7% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 12,047,004 shares of the pipeline company's stock valued at $510,816,000 after purchasing an additional 9,621,425 shares during the period. Blackstone Inc. boosted its holdings in Enbridge by 650.7% in the 4th quarter. Blackstone Inc. now owns 5,718,089 shares of the pipeline company's stock valued at $242,619,000 after purchasing an additional 4,956,379 shares during the period. Deutsche Bank AG boosted its holdings in Enbridge by 13.9% in the 4th quarter. Deutsche Bank AG now owns 36,336,212 shares of the pipeline company's stock valued at $1,541,745,000 after purchasing an additional 4,426,684 shares during the period. Finally, Vanguard Group Inc. boosted its holdings in Enbridge by 4.1% in the 4th quarter. Vanguard Group Inc. now owns 91,617,146 shares of the pipeline company's stock valued at $3,888,507,000 after purchasing an additional 3,611,421 shares during the period. 54.60% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently issued reports on ENB shares. Wall Street Zen upgraded Enbridge from a "sell" rating to a "hold" rating in a research note on Thursday, May 22nd. National Bankshares restated a "sector perform" rating on shares of Enbridge in a research note on Monday, May 12th. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $67.00 price objective on shares of Enbridge in a report on Monday, May 12th. Raymond James Financial raised shares of Enbridge to a "moderate buy" rating in a report on Wednesday, April 23rd. Finally, BMO Capital Markets reiterated a "market perform" rating on shares of Enbridge in a research note on Monday, May 12th. Six investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $67.00.

Enbridge Price Performance

Shares of ENB traded down $0.61 on Monday, hitting $44.13. The company's stock had a trading volume of 3,691,576 shares, compared to its average volume of 3,952,253. The company has a market capitalization of $96.22 billion, a PE ratio of 22.75, a PEG ratio of 4.22 and a beta of 0.79. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.73 and a quick ratio of 0.66. Enbridge Inc has a fifty-two week low of $35.10 and a fifty-two week high of $47.44. The company has a 50 day moving average price of $45.73 and a 200 day moving average price of $44.27.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last announced its earnings results on Friday, May 9th. The pipeline company reported $0.72 EPS for the quarter, topping the consensus estimate of $0.68 by $0.04. The business had revenue of $7.27 billion for the quarter, compared to the consensus estimate of $10.20 billion. Enbridge had a return on equity of 10.41% and a net margin of 10.16%. During the same period in the previous year, the business earned $0.92 EPS. On average, research analysts anticipate that Enbridge Inc will post 2.14 earnings per share for the current fiscal year.

Enbridge Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Sunday, June 1st. Stockholders of record on Thursday, May 15th were issued a $0.679 dividend. This is an increase from Enbridge's previous quarterly dividend of $0.67. This represents a $2.72 annualized dividend and a dividend yield of 6.15%. The ex-dividend date of this dividend was Thursday, May 15th. Enbridge's payout ratio is presently 140.21%.

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.