Verus Capital Partners LLC Buys 1,231 Shares of Enbridge Inc. (NYSE:ENB)

Verus Capital Partners LLC raised its stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 20.2% in the second quarter, Holdings Channel reports. The fund owned 7,326 shares of the pipeline company’s stock after acquiring an additional 1,231 shares during the period. Verus Capital Partners LLC’s holdings in Enbridge were worth $261,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ENB. Mraz Amerine & Associates Inc. increased its stake in shares of Enbridge by 4.8% in the second quarter. Mraz Amerine & Associates Inc. now owns 8,699 shares of the pipeline company’s stock valued at $310,000 after buying an additional 395 shares in the last quarter. Union Savings Bank increased its stake in shares of Enbridge by 14.8% in the second quarter. Union Savings Bank now owns 21,154 shares of the pipeline company’s stock valued at $753,000 after buying an additional 2,726 shares in the last quarter. Financial Counselors Inc. increased its stake in shares of Enbridge by 5.9% in the second quarter. Financial Counselors Inc. now owns 728,226 shares of the pipeline company’s stock valued at $25,918,000 after buying an additional 40,331 shares in the last quarter. Natixis Advisors LLC increased its stake in shares of Enbridge by 15.5% in the second quarter. Natixis Advisors LLC now owns 138,305 shares of the pipeline company’s stock valued at $4,922,000 after buying an additional 18,519 shares in the last quarter. Finally, Equitable Trust Co. acquired a new stake in shares of Enbridge in the second quarter valued at $425,000. 54.60% of the stock is owned by institutional investors.

Enbridge Price Performance

Shares of ENB stock opened at $40.21 on Wednesday. The stock has a 50-day moving average price of $37.51 and a 200 day moving average price of $36.27. The company has a quick ratio of 0.68, a current ratio of 0.77 and a debt-to-equity ratio of 1.34. The firm has a market cap of $85.79 billion, a price-to-earnings ratio of 20.41, a PEG ratio of 3.90 and a beta of 0.92. Enbridge Inc. has a 12 month low of $31.03 and a 12 month high of $40.33.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings data on Friday, August 2nd. The pipeline company reported $0.58 EPS for the quarter, topping analysts’ consensus estimates of $0.45 by $0.13. The firm had revenue of $8.29 billion during the quarter, compared to analyst estimates of $4.28 billion. Enbridge had a return on equity of 10.07% and a net margin of 13.31%. During the same period last year, the company earned $0.51 earnings per share. Research analysts expect that Enbridge Inc. will post 2.06 EPS for the current year.

Enbridge Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Thursday, August 15th were given a $0.669 dividend. The ex-dividend date was Thursday, August 15th. This represents a $2.68 dividend on an annualized basis and a yield of 6.66%. Enbridge’s payout ratio is 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.