Ballentine Partners LLC Sells 401 Shares of Enbridge Inc. (NYSE:ENB)

Ballentine Partners LLC reduced its stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 3.9% during the 2nd quarter, HoldingsChannel reports. The firm owned 10,013 shares of the pipeline company’s stock after selling 401 shares during the quarter. Ballentine Partners LLC’s holdings in Enbridge were worth $356,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Caprock Group LLC boosted its stake in shares of Enbridge by 72.0% in the 2nd quarter. Caprock Group LLC now owns 35,550 shares of the pipeline company’s stock valued at $1,265,000 after purchasing an additional 14,876 shares in the last quarter. Acadian Asset Management LLC boosted its position in Enbridge by 622.1% in the second quarter. Acadian Asset Management LLC now owns 228,770 shares of the pipeline company’s stock valued at $8,139,000 after buying an additional 197,089 shares in the last quarter. MainStreet Investment Advisors LLC grew its stake in Enbridge by 0.9% during the second quarter. MainStreet Investment Advisors LLC now owns 87,156 shares of the pipeline company’s stock worth $3,102,000 after buying an additional 753 shares during the last quarter. Strategic Financial Concepts LLC increased its holdings in shares of Enbridge by 2,564.6% during the second quarter. Strategic Financial Concepts LLC now owns 266,136 shares of the pipeline company’s stock worth $95,000 after buying an additional 256,148 shares in the last quarter. Finally, Cobblestone Capital Advisors LLC NY raised its stake in shares of Enbridge by 3.5% in the second quarter. Cobblestone Capital Advisors LLC NY now owns 14,915 shares of the pipeline company’s stock valued at $531,000 after acquiring an additional 510 shares during the last quarter. 54.60% of the stock is owned by institutional investors and hedge funds.

Enbridge Stock Down 0.0 %

NYSE ENB opened at $40.25 on Thursday. The stock’s 50 day simple moving average is $38.10 and its 200 day simple moving average is $36.50. Enbridge Inc. has a one year low of $31.03 and a one year high of $40.83. The firm has a market cap of $85.88 billion, a PE ratio of 20.43, a price-to-earnings-growth ratio of 3.92 and a beta of 0.94. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.77 and a quick ratio of 0.68.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its earnings results on Friday, August 2nd. The pipeline company reported $0.58 EPS for the quarter, topping the consensus estimate of $0.45 by $0.13. Enbridge had a return on equity of 10.07% and a net margin of 13.31%. The company had revenue of $8.29 billion for the quarter, compared to analysts’ expectations of $4.28 billion. During the same quarter in the prior year, the business earned $0.51 earnings per share. As a group, sell-side analysts forecast that Enbridge Inc. will post 2.06 earnings per share for the current fiscal year.

Enbridge Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Thursday, August 15th were given a $0.669 dividend. This represents a $2.68 annualized dividend and a yield of 6.65%. The ex-dividend date was Thursday, August 15th. Enbridge’s payout ratio is presently 134.01%.

Enbridge Company 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.