Fifth Third Bancorp Has $2.64 Million Stock Holdings in Enbridge Inc. (NYSE:ENB)

Fifth Third Bancorp decreased its holdings in shares of Enbridge Inc. (NYSE:ENBFree Report) (TSE:ENB) by 3.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 62,251 shares of the pipeline company’s stock after selling 2,080 shares during the quarter. Fifth Third Bancorp’s holdings in Enbridge were worth $2,641,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Swiss National Bank increased its position in Enbridge by 3.2% during the third quarter. Swiss National Bank now owns 6,585,231 shares of the pipeline company’s stock worth $267,935,000 after buying an additional 207,200 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in shares of Enbridge by 70.7% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 1,296,374 shares of the pipeline company’s stock valued at $52,648,000 after acquiring an additional 536,818 shares in the last quarter. Duff & Phelps Investment Management Co. lifted its holdings in Enbridge by 32.6% in the 3rd quarter. Duff & Phelps Investment Management Co. now owns 1,302,132 shares of the pipeline company’s stock worth $52,880,000 after purchasing an additional 319,907 shares during the last quarter. Sound Income Strategies LLC boosted its position in Enbridge by 8.6% during the fourth quarter. Sound Income Strategies LLC now owns 631,820 shares of the pipeline company’s stock worth $26,808,000 after purchasing an additional 49,800 shares during the period. Finally, Pinnacle Financial Partners Inc grew its holdings in Enbridge by 8.8% during the third quarter. Pinnacle Financial Partners Inc now owns 188,244 shares of the pipeline company’s stock valued at $7,650,000 after purchasing an additional 15,207 shares during the last quarter. Institutional investors own 54.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Wells Fargo & Company upgraded shares of Enbridge from an “underweight” rating to an “equal weight” rating in a research note on Wednesday, November 6th. Royal Bank of Canada restated an “outperform” rating and set a $63.00 price target (up from $59.00) on shares of Enbridge in a report on Wednesday, December 4th. Morgan Stanley began coverage on Enbridge in a research note on Friday, October 25th. They issued an “equal weight” rating on the stock. TD Securities began coverage on Enbridge in a research note on Wednesday, January 15th. They set a “buy” rating for the company. Finally, Jefferies Financial Group downgraded Enbridge from a “buy” rating to a “hold” rating in a research report on Monday, September 30th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $63.00.

Get Our Latest Report on ENB

Enbridge Stock Performance

NYSE:ENB opened at $44.72 on Tuesday. The firm’s 50-day moving average is $42.99 and its 200-day moving average is $40.93. The company has a market cap of $97.41 billion, a price-to-earnings ratio of 20.70, a PEG ratio of 4.15 and a beta of 0.93. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.54 and a current ratio of 0.62. Enbridge Inc. has a 52-week low of $32.85 and a 52-week high of $45.78.

Enbridge (NYSE:ENBGet Free Report) (TSE:ENB) last issued its quarterly earnings results on Friday, November 1st. The pipeline company reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.15. Enbridge had a return on equity of 9.94% and a net margin of 13.54%. The firm had revenue of $10.91 billion for the quarter, compared to analyst estimates of $4.54 billion. During the same period in the previous year, the company posted $0.46 earnings per share. Equities research analysts anticipate that Enbridge Inc. will post 1.97 earnings per share for the current year.

Enbridge Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Saturday, February 15th will be given a $0.67 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.68 annualized dividend and a yield of 5.99%. Enbridge’s dividend payout ratio (DPR) is currently 124.07%.

Enbridge Company 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.

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Institutional Ownership by Quarter for Enbridge (NYSE:ENB)

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