Enbridge Inc. (NYSE:ENB) Shares Sold by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board cut its position in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 30.7% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 6,266,864 shares of the pipeline company’s stock after selling 2,778,000 shares during the quarter. Canada Pension Plan Investment Board owned 0.29% of Enbridge worth $222,902,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in shares of Enbridge by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 84,280,486 shares of the pipeline company’s stock worth $3,049,268,000 after buying an additional 1,227,031 shares in the last quarter. TD Asset Management Inc grew its position in shares of Enbridge by 0.9% in the first quarter. TD Asset Management Inc now owns 38,087,489 shares of the pipeline company’s stock valued at $1,377,708,000 after purchasing an additional 337,729 shares during the last quarter. 1832 Asset Management L.P. increased its stake in shares of Enbridge by 3.9% during the 1st quarter. 1832 Asset Management L.P. now owns 36,649,579 shares of the pipeline company’s stock worth $1,325,982,000 after purchasing an additional 1,360,439 shares in the last quarter. Cibc World Market Inc. raised its position 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 worth $1,157,802,000 after purchasing an additional 3,693,495 shares during the last quarter. Finally, Bank of Nova Scotia lifted its stake in Enbridge by 6.8% in the 4th quarter. Bank of Nova Scotia now owns 29,995,342 shares of the pipeline company’s stock valued at $1,079,833,000 after buying an additional 1,910,302 shares in the last quarter. 54.60% of the stock is currently owned by hedge funds and other institutional investors.

Enbridge Stock Performance

Enbridge stock opened at $40.39 on Friday. Enbridge Inc. has a fifty-two week low of $31.03 and a fifty-two week high of $41.22. The company has a market capitalization of $86.19 billion, a price-to-earnings ratio of 20.50, a PEG ratio of 3.91 and a beta of 0.94. The stock has a fifty day moving average of $38.70 and a two-hundred day moving average of $36.75. 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 (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings data on Friday, August 2nd. The pipeline company reported $0.58 EPS for the quarter, topping analysts’ consensus estimates of $0.45 by $0.13. The firm had revenue of $8.29 billion during the quarter, compared to analysts’ expectations of $4.28 billion. Enbridge had a return on equity of 10.07% and a net margin of 13.31%. During the same quarter last year, the business posted $0.51 EPS. On average, analysts anticipate that Enbridge Inc. will post 2.06 EPS for the current fiscal year.

Enbridge Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Thursday, August 15th were given a dividend of $0.669 per share. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $2.68 dividend on an annualized basis and a yield of 6.63%. Enbridge’s dividend payout ratio (DPR) 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.