Intrust Bank NA Sells 4,258 Shares of Enbridge Inc. (NYSE:ENB)

Intrust Bank NA lowered its stake in shares of Enbridge Inc. (NYSE:ENB – Get Rating) (TSE:ENB) by 22.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 14,342 shares of the pipeline company’s stock after selling 4,258 shares during the quarter. Intrust Bank NA’s holdings in Enbridge were worth $561,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of ENB. National Bank of Canada FI increased its position in shares of Enbridge by 264.9% during the fourth quarter. National Bank of Canada FI now owns 16,923,821 shares of the pipeline company’s stock valued at $661,242,000 after buying an additional 12,285,302 shares during the period. Vanguard Group Inc. grew its holdings in Enbridge by 3.7% in the first quarter. Vanguard Group Inc. now owns 69,181,872 shares of the pipeline company’s stock worth $3,188,593,000 after purchasing an additional 2,491,924 shares during the period. Canada Pension Plan Investment Board grew its holdings in Enbridge by 31.4% in the third quarter. Canada Pension Plan Investment Board now owns 9,327,425 shares of the pipeline company’s stock worth $347,695,000 after purchasing an additional 2,227,425 shares during the period. Toronto Dominion Bank grew its holdings in Enbridge by 14.5% in the third quarter. Toronto Dominion Bank now owns 16,033,979 shares of the pipeline company’s stock worth $634,707,000 after purchasing an additional 2,036,072 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its holdings in Enbridge by 99.7% in the second quarter. Price T Rowe Associates Inc. MD now owns 2,944,604 shares of the pipeline company’s stock worth $124,429,000 after purchasing an additional 1,469,957 shares during the period. Hedge funds and other institutional investors own 49.25% of the company’s stock.

Enbridge Trading Down 1.9 %

NYSE:ENB opened at $35.91 on Friday. The company’s 50 day moving average price is $38.47 and its 200-day moving average price is $39.34. Enbridge Inc. has a 52 week low of $35.02 and a 52 week high of $47.67. The company has a quick ratio of 0.51, a current ratio of 0.59 and a debt-to-equity ratio of 1.23. The stock has a market cap of $72.71 billion, a price-to-earnings ratio of 40.35, a PEG ratio of 2.77 and a beta of 0.83.

Enbridge Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 1st. Stockholders of record on Monday, May 15th will be paid a $0.655 dividend. The ex-dividend date of this dividend is Friday, May 12th. This is a boost from Enbridge’s previous quarterly dividend of $0.65. This represents a $2.62 dividend on an annualized basis and a dividend yield of 7.30%. Enbridge’s dividend payout ratio is 295.51%.

Wall Street Analysts Forecast Growth

ENB has been the topic of a number of recent research reports. StockNews.com initiated coverage on shares of Enbridge in a report on Thursday, May 18th. They issued a “hold” rating on the stock. National Bank Financial upped their price objective on shares of Enbridge from C$54.00 to C$56.00 in a report on Friday, January 27th. Finally, Credit Suisse Group upgraded shares of Enbridge from an “underperform” rating to a “neutral” rating in a report on Wednesday, March 29th. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Enbridge has a consensus rating of “Hold” and a consensus price target of $57.50.

Enbridge Profile

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Enbridge, Inc engages in the provision of gas and oil. It operates through the following segments: Liquid Pipelines, Gas Distribution and Storage, Gas Transmission and Midstream, Renewable Power Generation, and Energy Services. The Liquids Pipelines segment consists of common carrier and contract crude oil, natural gas liquids and refined products pipelines and terminals in Canada and the U.S., including Canadian Mainline, Regional Oil Sands System, Southern Lights Pipeline, Spearhead Pipeline, Seaway Crude Pipeline interest, and other feeder pipelines.