MGO One Seven LLC Sells 508 Shares of Enbridge Inc. (NYSE:ENB)

MGO One Seven LLC trimmed its position in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 1.4% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 35,072 shares of the pipeline company’s stock after selling 508 shares during the period. MGO One Seven LLC’s holdings in Enbridge were worth $1,248,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in ENB. TruNorth Capital Management LLC bought a new stake in Enbridge during the 2nd quarter valued at approximately $28,000. Ameritas Investment Partners Inc. bought a new position in Enbridge during the first quarter worth $29,000. Richardson Financial Services Inc. acquired a new position in Enbridge during the 1st quarter valued at $31,000. PFS Partners LLC boosted its holdings in Enbridge by 95.8% in the 1st quarter. PFS Partners LLC now owns 922 shares of the pipeline company’s stock valued at $33,000 after purchasing an additional 451 shares during the period. Finally, Northwest Bank & Trust Co acquired a new stake in Enbridge in the 4th quarter worth $34,000. 54.60% of the stock is owned by institutional investors and hedge funds.

Enbridge Stock Performance

NYSE:ENB opened at $40.48 on Friday. 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 firm’s 50-day moving average is $38.19 and its 200-day moving average is $36.53. Enbridge Inc. has a 52-week low of $31.03 and a 52-week high of $40.83. The company has a market cap of $86.38 billion, a price-to-earnings ratio of 20.55, a PEG ratio of 3.92 and a beta of 0.94.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings results on Friday, August 2nd. The pipeline company reported $0.58 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $8.29 billion for the quarter, compared to analyst estimates of $4.28 billion. During the same period in the previous year, the company posted $0.51 earnings per share. Equities research analysts anticipate that Enbridge Inc. will post 2.06 earnings per share for the current year.

Enbridge Cuts Dividend

The company 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 annualized dividend and a yield of 6.61%. Enbridge’s dividend payout ratio (DPR) is currently 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.