Dimensional Fund Advisors LP Increases Stock Position in Enbridge Inc. (NYSE:ENB)

Dimensional Fund Advisors LP increased its position in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 1.1% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 2,427,686 shares of the pipeline company’s stock after purchasing an additional 25,717 shares during the period. Dimensional Fund Advisors LP owned 0.11% of Enbridge worth $86,399,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in ENB. Rockwood Wealth Management LLC lifted its stake in Enbridge by 2.6% in the second quarter. Rockwood Wealth Management LLC now owns 11,107 shares of the pipeline company’s stock valued at $395,000 after buying an additional 285 shares during the last quarter. Whittier Trust Co. of Nevada Inc. lifted its stake in shares of Enbridge by 3.7% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 8,269 shares of the pipeline company’s stock worth $294,000 after acquiring an additional 298 shares during the period. Nations Financial Group Inc. IA ADV boosted its holdings in shares of Enbridge by 1.7% in the second quarter. Nations Financial Group Inc. IA ADV now owns 18,237 shares of the pipeline company’s stock valued at $649,000 after acquiring an additional 298 shares in the last quarter. Perigon Wealth Management LLC increased its stake in shares of Enbridge by 3.7% during the first quarter. Perigon Wealth Management LLC now owns 8,827 shares of the pipeline company’s stock worth $319,000 after acquiring an additional 314 shares during the period. Finally, RFG Advisory LLC lifted its position in Enbridge by 2.3% in the second quarter. RFG Advisory LLC now owns 14,183 shares of the pipeline company’s stock valued at $505,000 after purchasing an additional 325 shares during the period. 54.60% of the stock is owned by institutional investors and hedge funds.

Enbridge Stock Performance

NYSE ENB opened at $41.10 on Thursday. 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 stock has a market capitalization of $87.69 billion, a price-to-earnings ratio of 20.86, a PEG ratio of 3.93 and a beta of 0.94. The business’s 50 day moving average is $38.99 and its two-hundred day moving average is $36.89.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its 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. Enbridge had a net margin of 13.31% and a return on equity of 10.07%. The company had revenue of $8.29 billion during the quarter, compared to analysts’ expectations of $4.28 billion. During the same period last year, the company posted $0.51 earnings per share. Research analysts expect that Enbridge Inc. will post 2.08 EPS for the current year.

Enbridge Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Thursday, August 15th were paid a $0.669 dividend. This represents a $2.68 dividend on an annualized basis and a yield of 6.51%. The ex-dividend date was Thursday, August 15th. Enbridge’s payout ratio is currently 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.