Enbridge Inc. (NYSE:ENB) Shares Sold by Fulton Bank N.A.

Fulton Bank N.A. lowered its holdings in Enbridge Inc. (NYSE:ENBFree Report) (TSE:ENB) by 0.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 68,362 shares of the pipeline company’s stock after selling 624 shares during the period. Fulton Bank N.A.’s holdings in Enbridge were worth $2,473,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. BOK Financial Private Wealth Inc. acquired a new position in shares of Enbridge in the 4th quarter worth approximately $25,000. Baystate Wealth Management LLC boosted its holdings in shares of Enbridge by 836.4% in the fourth quarter. Baystate Wealth Management LLC now owns 721 shares of the pipeline company’s stock worth $26,000 after buying an additional 644 shares during the period. Tennessee Valley Asset Management Partners acquired a new position in shares of Enbridge in the fourth quarter worth about $28,000. Financial Gravity Asset Management Inc. boosted its holdings in shares of Enbridge by 2,294.6% in the third quarter. Financial Gravity Asset Management Inc. now owns 886 shares of the pipeline company’s stock worth $29,000 after buying an additional 849 shares during the period. Finally, Planned Solutions Inc. acquired a new position in shares of Enbridge in the fourth quarter worth about $34,000. Institutional investors and hedge funds own 54.60% of the company’s stock.

Analysts Set New Price Targets

Separately, Jefferies Financial Group started coverage on shares of Enbridge in a report on Tuesday, February 27th. They set a “buy” rating for the company. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Enbridge has an average rating of “Hold” and a consensus target price of $55.20.

Check Out Our Latest Research Report on Enbridge

Enbridge Stock Down 0.1 %

ENB traded down $0.04 during midday trading on Thursday, hitting $34.76. 4,787,941 shares of the company’s stock traded hands, compared to its average volume of 5,740,818. The company has a market cap of $73.89 billion, a PE ratio of 17.64, a price-to-earnings-growth ratio of 3.26 and a beta of 0.90. The stock’s fifty day simple moving average is $35.85 and its 200-day simple moving average is $35.62. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.68 and a quick ratio of 0.59. Enbridge Inc. has a one year low of $31.03 and a one year high of $38.37.

Enbridge (NYSE:ENBGet Free Report) (TSE:ENB) last released its quarterly earnings results on Friday, May 10th. The pipeline company reported $0.68 EPS for the quarter, beating analysts’ consensus estimates of $0.59 by $0.09. Enbridge had a net margin of 13.59% and a return on equity of 10.53%. The company had revenue of $8.19 billion for the quarter, compared to analyst estimates of $9 billion. As a group, equities analysts anticipate that Enbridge Inc. will post 2.13 earnings per share for the current fiscal year.

Enbridge Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Saturday, June 1st. Stockholders of record on Wednesday, May 15th were given a $0.677 dividend. This is a positive change from Enbridge’s previous quarterly dividend of $0.66. The ex-dividend date of this dividend was Tuesday, May 14th. This represents a $2.71 dividend on an annualized basis and a dividend yield of 7.79%. Enbridge’s dividend payout ratio (DPR) is currently 136.04%.

Enbridge Profile

(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.

See Also

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Institutional Ownership by Quarter for Enbridge (NYSE:ENB)

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