PNC Financial Services Group Inc. Has $13.31 Million Holdings in Enbridge Inc. (NYSE:ENB)

PNC Financial Services Group Inc. decreased its stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 2.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 369,601 shares of the pipeline company’s stock after selling 8,284 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Enbridge were worth $13,313,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in ENB. BOK Financial Private Wealth Inc. bought a new position in shares of Enbridge during the fourth quarter worth $25,000. Baystate Wealth Management LLC raised its stake in Enbridge by 836.4% during the 4th 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 bought a new position in Enbridge during the fourth quarter worth about $28,000. Financial Gravity Asset Management Inc. grew its stake in Enbridge by 2,294.6% in the third quarter. Financial Gravity Asset Management Inc. now owns 886 shares of the pipeline company’s stock valued at $29,000 after acquiring an additional 849 shares during the period. Finally, Planned Solutions Inc. bought a new stake 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.

Wall Street Analyst Weigh In

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

Enbridge Stock Performance

Shares of Enbridge stock opened at $34.80 on Wednesday. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.68 and a quick ratio of 0.59. The firm has a market cap of $73.99 billion, a price-to-earnings ratio of 17.66, a price-to-earnings-growth ratio of 3.29 and a beta of 0.90. The stock’s 50-day moving average is $35.84 and its 200-day moving average is $35.63. Enbridge Inc. has a one year low of $31.03 and a one year high of $38.37.

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

Enbridge Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Saturday, June 1st. Investors of record on Wednesday, May 15th were issued a dividend of $0.677 per share. This is a boost from Enbridge’s previous quarterly dividend of $0.66. The ex-dividend date was Tuesday, May 14th. This represents a $2.71 annualized dividend and a yield of 7.78%. Enbridge’s dividend payout ratio is presently 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.