US Bancorp DE Sells 4,196 Shares of Enbridge Inc $ENB

US Bancorp DE lowered its stake in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 1.1% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 379,601 shares of the pipeline company’s stock after selling 4,196 shares during the quarter. US Bancorp DE’s holdings in Enbridge were worth $17,204,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. Brighton Jones LLC bought a new stake in shares of Enbridge during the fourth quarter valued at approximately $261,000. GAMMA Investing LLC increased its holdings in shares of Enbridge by 4,331.0% during the first quarter. GAMMA Investing LLC now owns 31,593 shares of the pipeline company’s stock valued at $1,400,000 after acquiring an additional 30,880 shares in the last quarter. Farther Finance Advisors LLC increased its holdings in shares of Enbridge by 64.6% during the first quarter. Farther Finance Advisors LLC now owns 20,355 shares of the pipeline company’s stock valued at $907,000 after acquiring an additional 7,992 shares in the last quarter. Assenagon Asset Management S.A. increased its holdings in shares of Enbridge by 0.4% during the first quarter. Assenagon Asset Management S.A. now owns 75,420 shares of the pipeline company’s stock valued at $3,337,000 after acquiring an additional 320 shares in the last quarter. Finally, CX Institutional bought a new stake in shares of Enbridge during the first quarter valued at approximately $85,000. Institutional investors own 54.60% of the company’s stock.

Enbridge Stock Down 0.7%

Shares of NYSE:ENB opened at $47.67 on Friday. The stock has a market cap of $103.96 billion, a price-to-earnings ratio of 23.48, a PEG ratio of 4.39 and a beta of 0.78. The company has a quick ratio of 0.65, a current ratio of 0.75 and a debt-to-equity ratio of 1.58. Enbridge Inc has a 12-month low of $39.73 and a 12-month high of $50.54. The business’s 50 day moving average is $48.41 and its 200 day moving average is $46.25.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings data 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. Enbridge had a return on equity of 10.77% and a net margin of 10.11%.The business had revenue of $7.14 billion for the quarter, compared to analysts’ expectations of $10.56 billion. During the same quarter in the previous year, the firm earned $0.58 earnings per share. On average, sell-side analysts forecast that Enbridge Inc will post 2.14 earnings per share for the current fiscal year.

Enbridge Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 1st. Shareholders of record on Friday, August 15th were given a $0.6839 dividend. This is an increase from Enbridge’s previous quarterly dividend of $0.68. This represents a $2.74 annualized dividend and a yield of 5.7%. The ex-dividend date of this dividend was Friday, August 15th. Enbridge’s payout ratio is presently 134.98%.

Analyst Ratings Changes

ENB has been the subject of several recent research reports. Zacks Research downgraded Enbridge from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 17th. Wall Street Zen downgraded Enbridge from a “hold” rating to a “sell” rating in a report on Sunday, September 21st. Argus boosted their price objective on Enbridge from $50.00 to $54.00 and gave the company a “buy” rating in a report on Tuesday, August 12th. CIBC downgraded Enbridge from an “outperform” rating to a “neutral” rating in a report on Thursday. Finally, National Bankshares reaffirmed a “sector perform” rating on shares of Enbridge in a research report on Tuesday, August 5th. Six analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat, Enbridge currently has an average rating of “Hold” and a consensus price target of $60.50.

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.