US Bancorp DE Sells 9,542 Shares of Enbridge Inc. (NYSE:ENB)

US Bancorp DE reduced its stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 2.4% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 380,896 shares of the pipeline company’s stock after selling 9,542 shares during the period. US Bancorp DE’s holdings in Enbridge were worth $13,720,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in ENB. Corient Private Wealth LLC lifted its holdings in shares of Enbridge by 15.6% during the 3rd quarter. Corient Private Wealth LLC now owns 310,895 shares of the pipeline company’s stock worth $10,309,000 after acquiring an additional 41,975 shares during the last quarter. NBC Securities Inc. bought a new stake in Enbridge in the third quarter worth $531,000. Assenagon Asset Management S.A. lifted its stake in Enbridge by 1.3% in the third quarter. Assenagon Asset Management S.A. now owns 59,654 shares of the pipeline company’s stock worth $1,988,000 after purchasing an additional 764 shares during the last quarter. PFG Investments LLC lifted its stake in Enbridge by 9.3% in the third quarter. PFG Investments LLC now owns 12,589 shares of the pipeline company’s stock worth $418,000 after purchasing an additional 1,072 shares during the last quarter. Finally, Sigma Planning Corp lifted its stake in Enbridge by 2.2% in the third quarter. Sigma Planning Corp now owns 53,280 shares of the pipeline company’s stock worth $1,768,000 after purchasing an additional 1,154 shares during the last quarter. 54.60% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Jefferies Financial Group began coverage on shares of Enbridge in a research note on Tuesday, February 27th. They issued a “buy” rating for the company. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $55.20.

Enbridge Stock Performance

Shares of NYSE:ENB opened at $36.24 on Monday. The company has a market cap of $77.04 billion, a price-to-earnings ratio of 18.40, a price-to-earnings-growth ratio of 3.43 and a beta of 0.83. The company has a 50-day moving average price of $35.83 and a 200-day moving average price of $35.41. The company has a current ratio of 0.68, a quick ratio of 0.59 and a debt-to-equity ratio of 1.35. Enbridge Inc. has a 12 month low of $31.03 and a 12 month high of $38.37.

Enbridge Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Stockholders of record on Wednesday, May 15th will be paid a dividend of $0.677 per share. This represents a $2.71 annualized dividend and a dividend yield of 7.47%. This is an increase from Enbridge’s previous quarterly dividend of $0.66. The ex-dividend date is Tuesday, May 14th. Enbridge’s dividend payout ratio is 136.04%.

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.