Enbridge Inc. (NYSE:ENB) Shares Sold by Financial Advocates Investment Management

Financial Advocates Investment Management reduced its stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 12.8% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 30,560 shares of the pipeline company’s stock after selling 4,466 shares during the quarter. Financial Advocates Investment Management’s holdings in Enbridge were worth $1,087,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of ENB. HB Wealth Management LLC lifted its holdings in Enbridge by 8.9% in the 2nd quarter. HB Wealth Management LLC now owns 8,811 shares of the pipeline company’s stock valued at $314,000 after acquiring an additional 717 shares during the last quarter. Miller Howard Investments Inc. NY lifted its position in shares of Enbridge by 2.2% during the 2nd quarter. Miller Howard Investments Inc. NY now owns 792,116 shares of the pipeline company’s stock valued at $28,191,000 after acquiring an additional 17,185 shares during the last quarter. Rockwood Wealth Management LLC grew its holdings in shares of Enbridge by 2.6% in the 2nd quarter. Rockwood Wealth Management LLC now owns 11,107 shares of the pipeline company’s stock worth $395,000 after acquiring an additional 285 shares during the last quarter. Trajan Wealth LLC lifted its holdings in shares of Enbridge by 7.7% during the second quarter. Trajan Wealth LLC now owns 502,405 shares of the pipeline company’s stock valued at $17,881,000 after purchasing an additional 36,106 shares during the last quarter. Finally, K.J. Harrison & Partners Inc raised its holdings in Enbridge by 87.1% during the 2nd quarter. K.J. Harrison & Partners Inc now owns 216,891 shares of the pipeline company’s stock worth $7,712,000 after buying an additional 100,975 shares during the period. Institutional investors and hedge funds own 54.60% of the company’s stock.

Enbridge Stock Performance

Enbridge stock opened at $39.56 on Friday. Enbridge Inc. has a fifty-two week low of $31.03 and a fifty-two week high of $40.05. The firm’s 50 day simple moving average is $37.10 and its 200-day simple moving average is $36.09. 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 company has a market cap of $84.42 billion, a P/E ratio of 20.08, a price-to-earnings-growth ratio of 3.55 and a beta of 0.92.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings results on Friday, August 2nd. The pipeline company reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.13. The firm had revenue of $8.29 billion for the quarter, compared to analyst estimates of $4.28 billion. Enbridge had a return on equity of 10.53% and a net margin of 13.59%. During the same period in the previous year, the firm earned $0.51 earnings per share. As a group, equities research analysts predict that Enbridge Inc. will post 2.12 EPS for the current year.

Enbridge Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, September 1st. Shareholders of record on Thursday, August 15th will be paid a $0.669 dividend. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $2.68 annualized dividend and a yield of 6.76%. Enbridge’s dividend payout ratio is presently 134.01%.

About Enbridge

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.