US Bancorp DE Has $16.65 Million Stock Holdings in Enbridge Inc. (NYSE:ENB)

US Bancorp DE lowered its holdings in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 3.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). 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 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in ENB. TruNorth Capital Management LLC bought a new stake in shares of Enbridge in the 2nd quarter valued at $28,000. William B. Walkup & Associates Inc. acquired a new stake in Enbridge in the second quarter worth $28,000. Ameritas Investment Partners Inc. bought a new stake in Enbridge in the first quarter valued at $29,000. Richardson Financial Services Inc. acquired a new position in shares of Enbridge during the first quarter valued at about $31,000. Finally, Grove Bank & Trust boosted its position in shares of Enbridge by 56.7% during the 3rd quarter. Grove Bank & Trust now owns 771 shares of the pipeline company’s stock worth $31,000 after purchasing an additional 279 shares in the last quarter. 54.60% of the stock is currently owned by institutional investors.

Enbridge Trading Up 0.0 %

ENB opened at $40.42 on Friday. The firm has a market capitalization of $88.02 billion, a PE ratio of 21.05, a P/E/G ratio of 3.91 and a beta of 0.93. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.77 and a quick ratio of 0.68. Enbridge Inc. has a fifty-two week low of $32.65 and a fifty-two week high of $42.16. The company’s 50-day moving average is $40.73 and its 200 day moving average is $37.97.

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

Enbridge Increases Dividend

The business also recently declared 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 is a positive change from Enbridge’s previous quarterly dividend of $0.67. This represents a $2.70 dividend on an annualized basis and a yield of 6.69%. The ex-dividend date is Friday, November 15th. Enbridge’s dividend payout ratio is presently 137.50%.

Wall Street Analysts Forecast Growth

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

Enbridge 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.