Wealthspire Advisors LLC Invests $240,000 in Enbridge Inc. (NYSE:ENB)

Wealthspire Advisors LLC purchased a new position in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 6,732 shares of the pipeline company’s stock, valued at approximately $240,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. TruNorth Capital Management LLC purchased a new position in shares of Enbridge during the second quarter worth $28,000. Ameritas Investment Partners Inc. purchased a new position in shares of Enbridge during the first quarter worth $29,000. Richardson Financial Services Inc. purchased a new position in shares of Enbridge during the first quarter worth $31,000. PFS Partners LLC boosted its position in shares of Enbridge by 95.8% during the first quarter. PFS Partners LLC now owns 922 shares of the pipeline company’s stock worth $33,000 after buying an additional 451 shares during the period. Finally, Northwest Bank & Trust Co acquired a new stake in shares of Enbridge in the fourth quarter valued at $34,000. 54.60% of the stock is currently owned by hedge funds and other institutional investors.

Enbridge Stock Down 0.9 %

Shares of NYSE ENB opened at $40.83 on Wednesday. The stock has a market cap of $87.12 billion, a P/E ratio of 20.72, a PEG ratio of 3.91 and a beta of 0.94. 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 Inc. has a 12-month low of $31.03 and a 12-month high of $41.22. The business’s fifty day simple moving average is $38.52 and its 200-day simple moving average is $36.69.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings data on Friday, August 2nd. The pipeline company reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.13. The business had revenue of $8.29 billion for 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 last year, the firm earned $0.51 earnings per share. As a group, equities analysts predict that Enbridge Inc. will post 2.06 EPS for the current fiscal year.

Enbridge Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Thursday, August 15th were paid a $0.669 dividend. This represents a $2.68 annualized dividend and a dividend yield of 6.55%. The ex-dividend date of this dividend was Thursday, August 15th. Enbridge’s payout ratio is currently 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.