Enbridge Inc. (NYSE:ENB) Shares Bought by Private Advisor Group LLC

Private Advisor Group LLC lifted its stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 2.1% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 103,598 shares of the pipeline company’s stock after purchasing an additional 2,145 shares during the quarter. Private Advisor Group LLC’s holdings in Enbridge were worth $3,687,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in ENB. Dimensional Fund Advisors LP boosted its stake in shares of Enbridge by 3.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,348,064 shares of the pipeline company’s stock worth $84,578,000 after acquiring an additional 72,129 shares in the last quarter. Vise Technologies Inc. increased its position in shares of Enbridge by 17.3% in the fourth quarter. Vise Technologies Inc. now owns 7,058 shares of the pipeline company’s stock valued at $254,000 after buying an additional 1,040 shares in the last quarter. Janney Montgomery Scott LLC raised its stake in shares of Enbridge by 3.6% during the 4th quarter. Janney Montgomery Scott LLC now owns 789,490 shares of the pipeline company’s stock worth $28,438,000 after buying an additional 27,243 shares during the last quarter. Beacon Pointe Advisors LLC boosted its position in shares of Enbridge by 37.2% in the 4th quarter. Beacon Pointe Advisors LLC now owns 361,487 shares of the pipeline company’s stock worth $13,021,000 after buying an additional 98,067 shares in the last quarter. Finally, Meridian Wealth Management LLC grew its stake in Enbridge by 3.7% in the 4th quarter. Meridian Wealth Management LLC now owns 18,190 shares of the pipeline company’s stock valued at $656,000 after acquiring an additional 644 shares during the last quarter. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Enbridge Stock Performance

Enbridge stock opened at $40.25 on Thursday. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.68 and a current ratio of 0.77. The company has a market capitalization of $85.88 billion, a price-to-earnings ratio of 20.43, a PEG ratio of 3.92 and a beta of 0.94. Enbridge Inc. has a fifty-two week low of $31.03 and a fifty-two week high of $40.83. The stock has a fifty day moving average of $38.10 and a two-hundred day moving average of $36.50.

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

Enbridge Cuts Dividend

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