Harbour Investments Inc. Has $612,000 Holdings in Enbridge Inc. (NYSE:ENB)

Harbour Investments Inc. raised its position in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 3.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 17,193 shares of the pipeline company’s stock after buying an additional 555 shares during the quarter. Harbour Investments Inc.’s holdings in Enbridge were worth $612,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Canoe Financial LP raised its stake in Enbridge by 80,631.1% during the fourth quarter. Canoe Financial LP now owns 33,460,611 shares of the pipeline company’s stock worth $1,205,251,000 after acquiring an additional 33,419,164 shares in the last quarter. Norges Bank acquired a new position in shares of Enbridge during the fourth quarter worth $714,662,000. TD Asset Management Inc lifted its stake in shares of Enbridge by 24.9% in the 4th 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 stake in shares of Enbridge during the 1st quarter valued at $152,843,000. Finally, Canada Pension Plan Investment Board grew its position in 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 acquiring an additional 3,624,089 shares during the last quarter. Institutional investors own 54.60% of the company’s stock.

Enbridge Stock Performance

Shares of ENB stock opened at $39.38 on Thursday. The firm has a market capitalization of $84.02 billion, a price-to-earnings ratio of 19.99, a PEG ratio of 3.55 and a beta of 0.92. The company has a current ratio of 0.68, a quick ratio of 0.59 and a debt-to-equity ratio of 1.35. The business’s 50-day moving average price is $37.00 and its 200-day moving average price is $36.07. Enbridge Inc. has a 12 month low of $31.03 and a 12 month high of $40.05.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its earnings results on Friday, August 2nd. The pipeline company reported $0.58 earnings per share 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 analyst estimates of $4.28 billion. Enbridge had a net margin of 13.59% and a return on equity of 10.53%. During the same period in the previous year, the firm posted $0.51 EPS. Equities research analysts forecast that Enbridge Inc. will post 2.12 EPS for the current year.

Enbridge Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Sunday, September 1st. Shareholders of record on Thursday, August 15th will be given a $0.669 dividend. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 6.80%. Enbridge’s dividend payout ratio (DPR) is presently 134.01%.

Enbridge 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.