Truist Financial Corp Sells 10,479 Shares of Enbridge Inc $ENB

Truist Financial Corp decreased its holdings in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 1.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 808,961 shares of the pipeline company’s stock after selling 10,479 shares during the quarter. Truist Financial Corp’s holdings in Enbridge were worth $38,693,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Avidian Wealth Enterprises LLC boosted its holdings in shares of Enbridge by 2.5% in the 4th quarter. Avidian Wealth Enterprises LLC now owns 8,936 shares of the pipeline company’s stock worth $427,000 after buying an additional 218 shares during the last quarter. Intact Investment Management Inc. boosted its holdings in shares of Enbridge by 22.8% in the 4th quarter. Intact Investment Management Inc. now owns 987,976 shares of the pipeline company’s stock worth $47,275,000 after buying an additional 183,163 shares during the last quarter. Amplify Investments LLC increased its stake in shares of Enbridge by 21.4% during the 4th quarter. Amplify Investments LLC now owns 7,565 shares of the pipeline company’s stock worth $348,000 after purchasing an additional 1,335 shares during the last quarter. Montag A & Associates Inc. increased its stake in shares of Enbridge by 8.3% during the 4th quarter. Montag A & Associates Inc. now owns 6,521 shares of the pipeline company’s stock worth $312,000 after purchasing an additional 500 shares during the last quarter. Finally, Composition Wealth LLC increased its stake in shares of Enbridge by 4.7% during the 4th quarter. Composition Wealth LLC now owns 5,225 shares of the pipeline company’s stock worth $250,000 after purchasing an additional 235 shares during the last quarter. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on ENB. JPMorgan Chase & Co. lowered shares of Enbridge from an “overweight” rating to a “neutral” rating in a research note on Tuesday, January 27th. Royal Bank Of Canada raised their price target on shares of Enbridge from $72.00 to $76.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 17th. BMO Capital Markets restated a “market perform” rating on shares of Enbridge in a research note on Tuesday, February 17th. Citigroup restated a “buy” rating on shares of Enbridge in a research note on Thursday, February 19th. Finally, TD Securities lowered shares of Enbridge from a “buy” rating to a “hold” rating in a research note on Tuesday, February 17th. Seven research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $65.00.

Enbridge Stock Up 0.3%

ENB opened at $54.91 on Wednesday. The company has a fifty day moving average price of $53.62 and a 200-day moving average price of $50.00. The firm has a market capitalization of $119.89 billion, a P/E ratio of 23.87 and a beta of 0.59. The company has a debt-to-equity ratio of 1.70, a current ratio of 0.63 and a quick ratio of 0.55. Enbridge Inc has a one year low of $43.59 and a one year high of $55.49.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings results on Friday, February 13th. The pipeline company reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.03. The firm had revenue of $17.18 billion during the quarter, compared to analyst estimates of $9.10 billion. Enbridge had a net margin of 11.30% and a return on equity of 11.19%. During the same period in the previous year, the business earned $0.75 EPS. Equities research analysts expect that Enbridge Inc will post 2.2 earnings per share for the current fiscal year.

About Enbridge

Enbridge Inc is a Calgary, Alberta–based energy infrastructure company that develops, owns and operates a diversified portfolio of energy transportation, distribution and generation assets. Its core activities include the operation of crude oil and liquids pipelines, natural gas transmission and distribution systems, and energy storage facilities. In addition to midstream transportation and storage, Enbridge has expanded into renewable power generation and energy transition projects, including wind, solar and utility-scale generation assets.

The company serves customers primarily in Canada and the United States and has interests in other international energy projects.