Enbridge Inc. (NYSE:ENB) Shares Purchased by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. raised its stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 3.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,852,464 shares of the pipeline company’s stock after purchasing an additional 120,490 shares during the quarter. Envestnet Asset Management Inc. owned about 0.18% of Enbridge worth $137,094,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Dimensional Fund Advisors LP lifted its position in shares of Enbridge by 3.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,348,064 shares of the pipeline company’s stock worth $84,578,000 after purchasing an additional 72,129 shares in the last quarter. Level Four Advisory Services LLC boosted its position in Enbridge by 26.2% in the 4th quarter. Level Four Advisory Services LLC now owns 29,670 shares of the pipeline company’s stock valued at $1,069,000 after buying an additional 6,160 shares during the last quarter. Norges Bank acquired a new stake in shares of Enbridge during the fourth quarter valued at about $714,662,000. UBS Group AG increased its position in shares of Enbridge by 0.3% during the fourth quarter. UBS Group AG now owns 2,426,281 shares of the pipeline company’s stock worth $87,395,000 after acquiring an additional 7,476 shares during the last quarter. Finally, Associated Banc Corp acquired a new position in shares of Enbridge in the fourth quarter worth about $241,000. Institutional investors and hedge funds own 54.60% of the company’s stock.

Enbridge Trading Up 1.1 %

Shares of ENB opened at $41.19 on Tuesday. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.68 and a current ratio of 0.77. Enbridge Inc. has a one year low of $31.03 and a one year high of $41.21. The stock has a 50-day moving average price of $38.41 and a 200 day moving average price of $36.65. The company has a market capitalization of $87.88 billion, a P/E ratio of 20.91, a P/E/G ratio of 3.91 and a beta of 0.94.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings data on Friday, August 2nd. The pipeline company reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.13. The company 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 period last year, the business earned $0.51 EPS. Sell-side analysts forecast that Enbridge Inc. will post 2.06 EPS for the current fiscal year.

Enbridge Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Thursday, August 15th were paid a dividend of $0.669 per share. This represents a $2.68 annualized dividend and a yield of 6.50%. The ex-dividend date of this dividend was Thursday, August 15th. Enbridge’s payout ratio is currently 134.01%.

Enbridge 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.