Carolinas Wealth Consulting LLC Lowers Stake in Enbridge Inc. (NYSE:ENB)

Carolinas Wealth Consulting LLC lowered its stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 15.2% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 10,026 shares of the pipeline company’s stock after selling 1,802 shares during the period. Carolinas Wealth Consulting LLC’s holdings in Enbridge were worth $357,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in ENB. TD Asset Management Inc raised its position in shares of Enbridge by 24.9% during the 4th quarter. TD Asset Management Inc now owns 37,749,760 shares of the pipeline company’s stock valued at $1,365,583,000 after buying an additional 7,536,678 shares in the last quarter. M&G Plc bought a new position in shares of Enbridge during the 1st quarter valued at $152,843,000. Cibc World Market Inc. grew its holdings in shares of Enbridge by 12.8% during the 2nd quarter. Cibc World Market Inc. now owns 32,531,675 shares of the pipeline company’s stock valued at $1,157,802,000 after purchasing an additional 3,693,495 shares during the last quarter. Canada Pension Plan Investment Board grew its holdings in shares of Enbridge by 66.9% during the 1st quarter. Canada Pension Plan Investment Board now owns 9,044,864 shares of the pipeline company’s stock valued at $327,172,000 after purchasing an additional 3,624,089 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its holdings in shares of Enbridge by 15.2% during the 4th quarter. The Manufacturers Life Insurance Company now owns 21,932,752 shares of the pipeline company’s stock valued at $790,785,000 after purchasing an additional 2,895,742 shares during the last quarter. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Enbridge Price Performance

ENB stock opened at $40.52 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. Enbridge Inc. has a 52 week low of $31.03 and a 52 week high of $41.22. The firm’s fifty day moving average is $38.61 and its 200 day moving average is $36.72. The firm has a market cap of $86.45 billion, a P/E ratio of 20.57, a P/E/G ratio of 3.91 and a beta of 0.94.

Enbridge (NYSE:ENB) (TSE:ENB) last released its 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. The company had revenue of $8.29 billion for 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 quarter last year, the firm earned $0.51 EPS. Research analysts predict that Enbridge Inc. will post 2.06 earnings per share for the current 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 dividend on an annualized basis and a yield of 6.60%. The ex-dividend date was Thursday, August 15th. Enbridge’s dividend payout ratio (DPR) 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.