Ritholtz Wealth Management Grows Stock Holdings in Enbridge Inc. (NYSE:ENB)

Ritholtz Wealth Management raised its stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 23.8% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 38,985 shares of the pipeline company’s stock after acquiring an additional 7,490 shares during the period. Ritholtz Wealth Management’s holdings in Enbridge were worth $1,387,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. TruNorth Capital Management LLC acquired a new position in shares of Enbridge during the second quarter worth about $28,000. Ameritas Investment Partners Inc. acquired a new stake in Enbridge in the first quarter valued at $29,000. Richardson Financial Services Inc. purchased a new stake in shares of Enbridge during the 1st quarter worth $31,000. PFS Partners LLC grew its stake in shares of 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 period. Finally, Northwest Bank & Trust Co purchased a new position in shares of Enbridge in the 4th quarter valued at about $34,000. 54.60% of the stock is owned by institutional investors and hedge funds.

Enbridge Price Performance

ENB stock opened at $40.18 on Tuesday. The company has a market cap of $85.74 billion, a price-to-earnings ratio of 20.40, a PEG ratio of 3.90 and a beta of 0.92. 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 firm has a 50 day moving average of $37.40 and a 200-day moving average of $36.23. Enbridge Inc. has a 12-month low of $31.03 and a 12-month high of $40.32.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly 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 company 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 period in the previous year, the firm posted $0.51 earnings per share. As a group, equities 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 issued a $0.669 dividend. The ex-dividend date was Thursday, August 15th. This represents a $2.68 annualized dividend and a yield of 6.66%. Enbridge’s dividend payout ratio (DPR) is presently 134.01%.

Enbridge Company 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.