Whittier Trust Co. of Nevada Inc. Acquires 298 Shares of Enbridge Inc. (NYSE:ENB)

Whittier Trust Co. of Nevada Inc. boosted its holdings in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 3.7% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 8,269 shares of the pipeline company’s stock after acquiring an additional 298 shares during the period. Whittier Trust Co. of Nevada Inc.’s holdings in Enbridge were worth $294,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. TruNorth Capital Management LLC bought a new position in shares of Enbridge in the second quarter valued at about $28,000. Ameritas Investment Partners Inc. bought a new position in Enbridge in the 1st quarter valued at about $29,000. Richardson Financial Services Inc. acquired a new stake in Enbridge during the first quarter worth approximately $31,000. PFS Partners LLC boosted its holdings in shares of Enbridge by 95.8% during the first quarter. PFS Partners LLC now owns 922 shares of the pipeline company’s stock worth $33,000 after acquiring an additional 451 shares during the period. Finally, Northwest Bank & Trust Co acquired a new position in shares of Enbridge in the fourth quarter valued at approximately $34,000. Institutional investors and hedge funds own 54.60% of the company’s stock.

Enbridge Stock Performance

NYSE:ENB opened at $39.54 on Friday. The stock has a 50 day simple moving average of $37.10 and a 200 day simple moving average of $36.09. The stock has a market cap of $84.37 billion, a P/E ratio of 20.08, a PEG ratio of 3.55 and a beta of 0.92. Enbridge Inc. has a 1-year low of $31.03 and a 1-year high of $40.05. The company has a current ratio of 0.68, a quick ratio of 0.59 and a debt-to-equity ratio of 1.35.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its earnings results on Friday, August 2nd. The pipeline company reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates of $0.45 by $0.13. Enbridge had a return on equity of 10.53% and a net margin of 13.59%. The company had revenue of $8.29 billion during the quarter, compared to the consensus estimate of $4.28 billion. During the same quarter last year, the firm earned $0.51 earnings per share. Research analysts anticipate that Enbridge Inc. will post 2.12 earnings per share for the current year.

Enbridge Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Sunday, September 1st. Shareholders of record on Thursday, August 15th will be given a dividend of $0.669 per share. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 6.77%. Enbridge’s payout ratio is presently 134.01%.

Enbridge 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.