HBK Sorce Advisory LLC Purchases 466 Shares of Enbridge Inc. (NYSE:ENB)

HBK Sorce Advisory LLC increased its position in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 4.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,110 shares of the pipeline company’s stock after buying an additional 466 shares during the period. HBK Sorce Advisory LLC’s holdings in Enbridge were worth $431,000 at the end of the most recent quarter.

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

Enbridge Trading Up 0.6 %

Shares of NYSE ENB opened at $40.73 on Friday. Enbridge Inc. has a 1-year low of $31.03 and a 1-year high of $40.83. The business has a fifty day moving average price of $38.29 and a 200 day moving average price of $36.59. The stock has a market capitalization of $88.69 billion, a P/E ratio of 20.68, a price-to-earnings-growth ratio of 3.91 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 released its quarterly earnings results on Friday, August 2nd. The pipeline company reported $0.58 EPS for the quarter, beating the consensus estimate of $0.45 by $0.13. Enbridge had a net margin of 13.31% and a return on equity of 10.07%. The business had revenue of $8.29 billion during the quarter, compared to analyst estimates of $4.28 billion. During the same period in the prior year, the firm posted $0.51 earnings per share. Equities research analysts expect that Enbridge Inc. will post 2.06 EPS for the current fiscal year.

Enbridge Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Thursday, August 15th were issued a $0.669 dividend. This represents a $2.68 annualized dividend and a yield of 6.57%. The ex-dividend date of this dividend was Thursday, August 15th. Enbridge’s dividend payout ratio 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.