Enbridge Inc. (NYSE:ENB) Shares Sold by Riverview Capital Advisers LLC

Riverview Capital Advisers LLC decreased its stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 30.6% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 35,861 shares of the pipeline company’s stock after selling 15,789 shares during the period. Riverview Capital Advisers LLC’s holdings in Enbridge were worth $1,276,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the stock. TruNorth Capital Management LLC acquired a new position in Enbridge in the second quarter valued at $28,000. Ameritas Investment Partners Inc. purchased a new position in shares of Enbridge during the first quarter worth approximately $29,000. Richardson Financial Services Inc. acquired a new stake in Enbridge during the 1st quarter worth $31,000. PFS Partners LLC grew its position in Enbridge by 95.8% during the 1st quarter. PFS Partners LLC now owns 922 shares of the pipeline company’s stock worth $33,000 after purchasing an additional 451 shares during the last quarter. Finally, Northwest Bank & Trust Co acquired a new position in Enbridge in the fourth quarter valued at $34,000. 54.60% of the stock is owned by hedge funds and other institutional investors.

Enbridge Trading Down 0.7 %

Shares of ENB stock opened at $40.52 on Thursday. The company has a current ratio of 0.77, a quick ratio of 0.68 and a debt-to-equity ratio of 1.34. The business’s 50 day moving average is $38.61 and its two-hundred day moving average is $36.72. Enbridge Inc. has a twelve month low of $31.03 and a twelve month high of $41.22. The company has a market capitalization of $86.45 billion, a P/E ratio of 20.57, a price-to-earnings-growth ratio of 3.91 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, topping analysts’ consensus estimates of $0.45 by $0.13. The business 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 period in the previous year, the business posted $0.51 earnings per share. Equities analysts forecast that Enbridge Inc. will post 2.06 EPS for the current year.

Enbridge Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Thursday, August 15th were given a $0.669 dividend. This represents a $2.68 annualized dividend and a yield of 6.60%. The ex-dividend date was Thursday, August 15th. Enbridge’s payout ratio is 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.