Truist Financial Corp Sells 37,883 Shares of Enbridge Inc (NYSE:ENB)

Truist Financial Corp reduced its stake in shares of Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB by 4.3% in the 1st quarter, according to its most recent 13F filing with the Securities and 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 reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Capital Investment Counsel Inc grew its holdings in Enbridge by 3.1% during the first quarter. Capital Investment Counsel Inc now owns 7,527 shares of the pipeline company's stock valued at $333,000 after purchasing an additional 223 shares during the period. Bay Colony Advisory Group Inc d b a Bay Colony Advisors boosted its position in shares of Enbridge by 0.7% during the first quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 34,326 shares of the pipeline company's stock worth $1,526,000 after purchasing an additional 226 shares in the last quarter. Wintrust Investments LLC grew its holdings in shares of Enbridge by 47.8% in the 4th quarter. Wintrust Investments LLC now owns 736 shares of the pipeline company's stock valued at $31,000 after buying an additional 238 shares during the period. Knuff & Co LLC increased its position in shares of Enbridge by 12.6% in the 4th quarter. Knuff & Co LLC now owns 2,252 shares of the pipeline company's stock valued at $96,000 after buying an additional 252 shares in the last quarter. Finally, Hardin Capital Partners LLC raised its stake in Enbridge by 2.7% during the 1st quarter. Hardin Capital Partners LLC now owns 9,553 shares of the pipeline company's stock worth $423,000 after buying an additional 252 shares during the period. 54.60% of the stock is owned by institutional investors.

Enbridge Trading Down 0.1%

Enbridge stock opened at $44.76 on Monday. The stock has a 50-day simple moving average of $45.73 and a 200 day simple moving average of $44.27. The stock has a market capitalization of $97.58 billion, a P/E ratio of 23.07, a PEG ratio of 4.22 and a beta of 0.79. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.66 and a current ratio of 0.73. Enbridge Inc has a 52 week low of $35.10 and a 52 week high of $47.44.

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

Enbridge Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Sunday, June 1st. Investors of record on Thursday, May 15th were paid a $0.679 dividend. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $2.72 dividend on an annualized basis and a yield of 6.07%. This is a positive change from Enbridge's previous quarterly dividend of $0.67. Enbridge's dividend payout ratio is 140.21%.

Analysts Set New Price Targets

A number of research firms have issued reports on ENB. Wall Street Zen raised Enbridge from a "sell" rating to a "hold" rating in a research note on Thursday, May 22nd. National Bankshares reissued 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 issued a $67.00 price target on shares of Enbridge in a research note on Monday, May 12th. Raymond James Financial raised shares of Enbridge to a "moderate buy" rating in a research report on Wednesday, April 23rd. Finally, Citigroup initiated coverage on shares of Enbridge in a report on Friday, April 4th. They set a "buy" rating on the stock. Six research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $67.00.

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.

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