Enbridge Inc. (NYSE:ENB) Shares Bought by Farther Finance Advisors LLC

Farther Finance Advisors LLC lifted its stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 28.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,373 shares of the pipeline company’s stock after purchasing an additional 2,057 shares during the period. Farther Finance Advisors LLC’s holdings in Enbridge were worth $332,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Rockwood Wealth Management LLC grew its holdings in shares of Enbridge by 2.6% during the second quarter. Rockwood Wealth Management LLC now owns 11,107 shares of the pipeline company’s stock worth $395,000 after buying an additional 285 shares in the last quarter. Whittier Trust Co. of Nevada Inc. lifted its position in Enbridge by 3.7% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 8,269 shares of the pipeline company’s stock valued at $294,000 after buying an additional 298 shares in the last quarter. Nations Financial Group Inc. IA ADV lifted its position in Enbridge by 1.7% during the second quarter. Nations Financial Group Inc. IA ADV now owns 18,237 shares of the pipeline company’s stock valued at $649,000 after buying an additional 298 shares in the last quarter. Perigon Wealth Management LLC lifted its position in Enbridge by 3.7% during the first quarter. Perigon Wealth Management LLC now owns 8,827 shares of the pipeline company’s stock valued at $319,000 after buying an additional 314 shares in the last quarter. Finally, RFG Advisory LLC lifted its position in Enbridge by 2.3% during the second quarter. RFG Advisory LLC now owns 14,183 shares of the pipeline company’s stock valued at $505,000 after buying an additional 325 shares in the last quarter. Institutional investors and hedge funds own 54.60% of the company’s stock.

Enbridge Trading Up 0.5 %

NYSE ENB opened at $40.41 on Thursday. The company’s fifty day simple moving average is $37.61 and its 200-day simple moving average is $36.30. Enbridge Inc. has a 52 week low of $31.03 and a 52 week high of $40.67. The company has a current ratio of 0.77, a quick ratio of 0.68 and a debt-to-equity ratio of 1.34. The stock has a market cap of $86.23 billion, a P/E ratio of 20.51, a PEG ratio of 3.90 and a beta of 0.92.

Enbridge (NYSE:ENB) (TSE:ENB) last released its 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 during the quarter, compared to analyst estimates of $4.28 billion. Enbridge had a net margin of 13.31% and a return on equity of 10.07%. During the same quarter in the previous year, the firm earned $0.51 earnings per share. Equities research analysts predict that Enbridge Inc. will post 2.06 EPS for the current fiscal year.

Enbridge Cuts Dividend

The business also recently announced 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 of this dividend was Thursday, August 15th. This represents a $2.68 dividend on an annualized basis and a yield of 6.62%. 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.