US Bancorp DE Sells 14,666 Shares of Enbridge Inc. (NYSE:ENB)

US Bancorp DE lessened its stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 3.5% during the third quarter, HoldingsChannel reports. The firm owned 409,914 shares of the pipeline company’s stock after selling 14,666 shares during the period. US Bancorp DE’s holdings in Enbridge were worth $16,647,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also bought and sold shares of ENB. Norden Group LLC bought a new position in shares of Enbridge during the 1st quarter worth $360,000. BNP Paribas Financial Markets boosted its position in Enbridge by 19.4% during the first quarter. BNP Paribas Financial Markets now owns 6,991 shares of the pipeline company’s stock worth $253,000 after purchasing an additional 1,136 shares during the period. Janney Montgomery Scott LLC increased its stake in shares of Enbridge by 0.4% in the first quarter. Janney Montgomery Scott LLC now owns 792,584 shares of the pipeline company’s stock worth $28,676,000 after purchasing an additional 3,094 shares in the last quarter. Choreo LLC raised its position in shares of Enbridge by 10.9% in the first quarter. Choreo LLC now owns 24,291 shares of the pipeline company’s stock valued at $879,000 after purchasing an additional 2,392 shares during the period. Finally, Haverford Trust Co purchased a new stake in shares of Enbridge during the 1st quarter valued at approximately $288,000. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Enbridge Trading Up 0.0 %

Shares of Enbridge stock opened at $40.42 on Friday. The company’s 50-day moving average price is $40.73 and its 200-day moving average price is $37.97. The company has a current ratio of 0.77, a quick ratio of 0.68 and a debt-to-equity ratio of 1.34. Enbridge Inc. has a 12-month low of $32.65 and a 12-month high of $42.16. The company has a market cap of $88.02 billion, a price-to-earnings ratio of 21.05, a PEG ratio of 3.91 and a beta of 0.93.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its earnings results on Friday, August 2nd. The pipeline company reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.13. The business had revenue of $8.29 billion for the quarter, compared to analysts’ expectations of $4.28 billion. Enbridge had a net margin of 13.31% and a return on equity of 10.07%. During the same period in the prior year, the company posted $0.51 EPS. On average, equities analysts expect that Enbridge Inc. will post 2.07 earnings per share for the current fiscal year.

Enbridge Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Investors of record on Friday, November 15th will be given a $0.676 dividend. This represents a $2.70 dividend on an annualized basis and a dividend yield of 6.69%. The ex-dividend date of this dividend is Friday, November 15th. This is an increase from Enbridge’s previous quarterly dividend of $0.67. Enbridge’s dividend payout ratio (DPR) is 137.50%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on ENB. Jefferies Financial Group lowered shares of Enbridge from a “buy” rating to a “hold” rating in a research note on Monday, September 30th. Morgan Stanley assumed coverage on Enbridge in a research report on Friday, October 25th. They issued an “equal weight” rating for the company.

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.