Truist Financial Corp lowered its position in shares of Enbridge Inc. (NYSE:ENB - Free Report) TSE: ENB by 8.0% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,421,682 shares of the pipeline company's stock after selling 123,153 shares during the quarter. Truist Financial Corp owned about 0.07% of Enbridge worth $51,209,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently modified their holdings of ENB. Harbor Investment Advisory LLC raised its stake in Enbridge by 5.2% in the fourth quarter. Harbor Investment Advisory LLC now owns 5,623 shares of the pipeline company's stock valued at $203,000 after purchasing an additional 280 shares in the last quarter. North Star Investment Management Corp. raised 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 in the last quarter. First Citizens Bank & Trust Co. raised 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 in the last quarter. Marino Stram & Associates LLC raised 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 in the last quarter. Finally, Azimuth Capital Investment Management LLC raised its stake in Enbridge by 2.3% in the third quarter. Azimuth Capital Investment Management LLC now owns 15,537 shares of the pipeline company's stock valued at $518,000 after purchasing an additional 350 shares in the last quarter. Institutional investors and hedge funds own 54.60% of the company's stock.
Enbridge Trading Down 1.2 %
ENB stock traded down $0.44 during trading on Friday, hitting $35.82. The company had a trading volume of 4,385,230 shares, compared to its average volume of 6,269,155. The business has a 50-day moving average of $35.19 and a 200-day moving average of $34.83. Enbridge Inc. has a one year low of $31.03 and a one year high of $40.30. The stock has a market cap of $76.15 billion, a PE ratio of 17.06, a PEG ratio of 3.36 and a beta of 0.84. The company has a current ratio of 0.83, a quick ratio of 0.74 and a debt-to-equity ratio of 1.30.
Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last announced its earnings results on Friday, February 9th. The pipeline company reported $0.47 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.03). Enbridge had a net margin of 13.97% and a return on equity of 10.23%. The company had revenue of $8.37 billion during the quarter, compared to the consensus estimate of $9.62 billion. Research analysts predict that Enbridge Inc. will post 2.12 earnings per share for the current fiscal year.
Enbridge Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Saturday, June 1st. Investors of record on Wednesday, May 15th will be issued a $0.677 dividend. The ex-dividend date of this dividend is Tuesday, May 14th. This is a boost from Enbridge's previous quarterly dividend of $0.66. This represents a $2.71 annualized dividend and a yield of 7.56%. Enbridge's dividend payout ratio is presently 127.14%.
Wall Street Analyst Weigh In
ENB has been the subject of several research analyst reports. Jefferies Financial Group initiated coverage on Enbridge in a research note on Tuesday, February 27th. They set a "buy" rating for the company. Stifel Nicolaus assumed coverage on Enbridge in a research note on Thursday, January 18th. They set a "hold" rating for the company. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $55.20.
Read Our Latest Stock Report on Enbridge
About Enbridge
(
Free Report)
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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