US Bancorp DE Sells 10,480 Shares of Enbridge Inc. (NYSE:ENB)

US Bancorp DE trimmed its holdings in Enbridge Inc. (NYSE:ENB - Free Report) TSE: ENB by 2.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 399,434 shares of the pipeline company's stock after selling 10,480 shares during the quarter. US Bancorp DE's holdings in Enbridge were worth $16,948,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Swiss National Bank boosted its stake in Enbridge by 3.2% in the 3rd quarter. Swiss National Bank now owns 6,585,231 shares of the pipeline company's stock worth $267,935,000 after purchasing an additional 207,200 shares during the period. Wealth Enhancement Advisory Services LLC boosted its position in shares of Enbridge by 70.7% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 1,296,374 shares of the pipeline company's stock valued at $52,648,000 after acquiring an additional 536,818 shares during the last quarter. Duff & Phelps Investment Management Co. boosted its position in shares of Enbridge by 32.6% during the 3rd quarter. Duff & Phelps Investment Management Co. now owns 1,302,132 shares of the pipeline company's stock valued at $52,880,000 after acquiring an additional 319,907 shares during the last quarter. Sound Income Strategies LLC boosted its position in shares of Enbridge by 8.6% during the 4th quarter. Sound Income Strategies LLC now owns 631,820 shares of the pipeline company's stock valued at $26,808,000 after acquiring an additional 49,800 shares during the last quarter. Finally, Pinnacle Financial Partners Inc boosted its position in shares of Enbridge by 8.8% during the 3rd quarter. Pinnacle Financial Partners Inc now owns 188,244 shares of the pipeline company's stock valued at $7,650,000 after acquiring an additional 15,207 shares during the last quarter. 54.60% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on ENB shares. TD Securities started coverage on Enbridge in a research report on Wednesday, January 15th. They set a "buy" rating for the company. Royal Bank of Canada increased their target price on Enbridge from $63.00 to $67.00 and gave the company an "outperform" rating in a research report on Tuesday, February 18th. Finally, Wells Fargo & Company upgraded Enbridge from an "underweight" rating to an "equal weight" rating in a research report on Wednesday, November 6th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $67.00.

Enbridge Stock Down 0.1 %

Shares of ENB opened at $42.68 on Tuesday. The company has a market cap of $93.00 billion, a PE ratio of 24.81, a P/E/G ratio of 3.92 and a beta of 0.94. The business has a fifty day moving average of $43.44 and a 200 day moving average of $42.04. Enbridge Inc. has a 52-week low of $32.85 and a 52-week high of $45.78. The company has a quick ratio of 0.54, a current ratio of 0.55 and a debt-to-equity ratio of 1.50.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last released its earnings results on Friday, February 14th. The pipeline company reported $0.75 EPS for the quarter, beating analysts' consensus estimates of $0.52 by $0.23. Enbridge had a return on equity of 10.16% and a net margin of 10.04%. The firm had revenue of $11.59 billion for the quarter, compared to analysts' expectations of $4.78 billion. During the same quarter in the prior year, the firm posted $0.64 earnings per share. On average, sell-side analysts expect that Enbridge Inc. will post 2.14 EPS for the current year.

Enbridge Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Saturday, March 1st. Stockholders of record on Saturday, February 15th were paid a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a dividend yield of 6.28%. The ex-dividend date of this dividend was Friday, February 14th. Enbridge's dividend payout ratio is currently 155.81%.

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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