Graham Capital Wealth Management LLC Makes New $2.13 Million Investment in Enbridge Inc. (NYSE:ENB)

Graham Capital Wealth Management LLC bought a new position in Enbridge Inc. (NYSE:ENB) (TSE:ENB) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 59,785 shares of the pipeline company’s stock, valued at approximately $2,128,000. Enbridge makes up approximately 2.9% of Graham Capital Wealth Management LLC’s portfolio, making the stock its 12th biggest holding.

Several other hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. boosted 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 in the last quarter. TD Asset Management Inc boosted 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 in the last quarter. 1832 Asset Management L.P. boosted 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 in the last quarter. Cibc World Market Inc. boosted 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 in the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC boosted its holdings in Enbridge by 3.7% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 23,083,951 shares of the pipeline company’s stock worth $821,331,000 after acquiring an additional 827,540 shares in the last quarter. 54.60% of the stock is owned by institutional investors.

Analyst Ratings Changes

Separately, Jefferies Financial Group downgraded Enbridge from a “buy” rating to a “hold” rating in a report on Monday. Two analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $51.50.

Enbridge Trading Down 0.3 %

Shares of NYSE:ENB opened at $40.61 on Tuesday. The company has a market cap of $86.65 billion, a P/E ratio of 20.61, a PEG ratio of 3.93 and a beta of 0.94. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.77 and a quick ratio of 0.68. Enbridge Inc. has a 1 year low of $31.03 and a 1 year high of $41.22. The stock’s fifty day moving average price is $39.34 and its 200-day moving average price is $37.02.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings results on Friday, August 2nd. The pipeline company reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.45 by $0.13. The firm had revenue of $8.29 billion for the quarter, compared to the consensus estimate of $4.28 billion. Enbridge had a return on equity of 10.07% and a net margin of 13.31%. During the same period in the prior year, the company posted $0.51 earnings per share. Sell-side analysts expect that Enbridge Inc. will post 2.08 earnings per share for the current year.

Enbridge Cuts Dividend

The company also recently disclosed 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. This represents a $2.68 dividend on an annualized basis and a yield of 6.59%. 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.