Enbridge Inc. (NYSE:ENB) Shares Sold by Axxcess Wealth Management LLC

Axxcess Wealth Management LLC trimmed its position in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 2.3% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 43,192 shares of the pipeline company’s stock after selling 1,003 shares during the period. Axxcess Wealth Management LLC’s holdings in Enbridge were worth $1,537,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in Enbridge by 1.5% in the first quarter. Vanguard Group Inc. now owns 84,280,486 shares of the pipeline company’s stock worth $3,049,268,000 after acquiring an additional 1,227,031 shares during the last quarter. TD Asset Management Inc lifted its holdings in Enbridge by 0.9% in the first quarter. TD Asset Management Inc now owns 38,087,489 shares of the pipeline company’s stock worth $1,377,708,000 after acquiring an additional 337,729 shares during the last quarter. 1832 Asset Management L.P. lifted its holdings in Enbridge by 3.9% in the first quarter. 1832 Asset Management L.P. now owns 36,649,579 shares of the pipeline company’s stock worth $1,325,982,000 after acquiring an additional 1,360,439 shares during the last quarter. Cibc World Market Inc. lifted its holdings in Enbridge by 12.8% in the second quarter. Cibc World Market Inc. now owns 32,531,675 shares of the pipeline company’s stock worth $1,157,802,000 after acquiring an additional 3,693,495 shares during the last quarter. Finally, Bank of Nova Scotia lifted its holdings in Enbridge by 6.8% in the fourth quarter. Bank of Nova Scotia now owns 29,995,342 shares of the pipeline company’s stock worth $1,079,833,000 after acquiring an additional 1,910,302 shares during the last quarter. 54.60% of the stock is currently owned by institutional investors and hedge funds.

Enbridge Stock Performance

Shares of NYSE ENB opened at $40.52 on Thursday. The company has a quick ratio of 0.68, a current ratio of 0.77 and a debt-to-equity ratio of 1.34. The firm’s 50-day moving average price is $38.61 and its two-hundred day moving average price is $36.72. Enbridge Inc. has a 52-week low of $31.03 and a 52-week high of $41.22. The stock has a market capitalization 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 issued its earnings results on Friday, August 2nd. The pipeline company reported $0.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.45 by $0.13. The firm 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 quarter last year, the company posted $0.51 earnings per share. As a group, sell-side analysts forecast that Enbridge Inc. will post 2.06 earnings per share for the current year.

Enbridge Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Thursday, August 15th were issued a dividend of $0.669 per share. The ex-dividend date was Thursday, August 15th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 6.60%. 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.