BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its position in Enbridge Inc. (NYSE:ENB – Free Report) (TSE:ENB) by 185.1% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 297,230 shares of the pipeline company’s stock after buying an additional 192,975 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Enbridge were worth $10,576,000 at the end of the most recent reporting period.
A number of other institutional investors have also bought and sold shares of ENB. TruNorth Capital Management LLC bought a new position in shares of Enbridge in the second quarter worth about $28,000. Ameritas Investment Partners Inc. purchased a new stake in Enbridge during the 1st quarter valued at approximately $29,000. Richardson Financial Services Inc. purchased a new position in shares of Enbridge in 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 acquiring an additional 451 shares during the last quarter. Finally, Northwest Bank & Trust Co purchased a new position in Enbridge during the fourth quarter valued at $34,000. Hedge funds and other institutional investors own 54.60% of the company’s stock.
Enbridge Stock Up 0.6 %
Shares of ENB stock opened at $41.10 on Thursday. The company’s fifty day simple moving average is $38.99 and its two-hundred day simple moving average is $36.89. Enbridge Inc. has a 52 week low of $31.03 and a 52 week high of $41.22. The stock has a market cap of $87.69 billion, a P/E ratio of 20.86, a PEG ratio of 3.93 and a beta of 0.94. The company has a quick ratio of 0.68, a current ratio of 0.77 and a debt-to-equity ratio of 1.34.
Enbridge Cuts Dividend
The firm also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Thursday, August 15th were given a $0.669 dividend. This represents a $2.68 annualized dividend and a yield of 6.51%. The ex-dividend date was Thursday, August 15th. Enbridge’s dividend payout ratio 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.
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