Blair William & Co. IL Has $4.35 Million Stake in Enbridge Inc. (NYSE:ENB)

Blair William & Co. IL reduced its holdings in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 1.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 122,292 shares of the pipeline company’s stock after selling 1,609 shares during the period. Blair William & Co. IL’s holdings in Enbridge were worth $4,352,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ENB. TD Asset Management Inc increased its position in shares of Enbridge by 24.9% in the fourth quarter. TD Asset Management Inc now owns 37,749,760 shares of the pipeline company’s stock valued at $1,365,583,000 after acquiring an additional 7,536,678 shares during the last quarter. M&G Plc acquired a new position in Enbridge during the first quarter valued at approximately $152,843,000. Cibc World Market Inc. grew its stake 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 valued at $1,157,802,000 after purchasing an additional 3,693,495 shares in the last quarter. Canada Pension Plan Investment Board increased its position 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 worth $327,172,000 after purchasing an additional 3,624,089 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its stake 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 worth $790,785,000 after purchasing an additional 2,895,742 shares in the last quarter. 54.60% of the stock is owned by institutional investors.

Enbridge Price Performance

NYSE:ENB opened at $40.52 on Friday. The stock has a market capitalization of $86.47 billion, a PE ratio of 20.57, a P/E/G ratio of 3.91 and a beta of 0.94. Enbridge Inc. has a 1-year low of $31.03 and a 1-year high of $41.22. The firm has a fifty day simple moving average of $38.79 and a 200 day simple moving average of $36.80. The company has a current ratio of 0.77, a quick ratio of 0.68 and a debt-to-equity ratio of 1.34.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings data on Friday, August 2nd. The pipeline company reported $0.58 EPS for the quarter, beating analysts’ consensus estimates of $0.45 by $0.13. The company had revenue of $8.29 billion during the quarter, compared to the consensus estimate 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 posted $0.51 EPS. On average, research analysts expect that Enbridge Inc. will post 2.06 EPS for the current fiscal year.

Enbridge Cuts Dividend

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