Enbridge Inc. (NYSE:ENB) Shares Sold by First County Bank CT

First County Bank CT reduced its position in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 15.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 39,524 shares of the pipeline company’s stock after selling 6,995 shares during the quarter. First County Bank CT’s holdings in Enbridge were worth $1,407,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. TruNorth Capital Management LLC purchased a new position in shares of Enbridge in the 2nd quarter worth about $28,000. Ameritas Investment Partners Inc. acquired a new stake in Enbridge during the 1st quarter worth approximately $29,000. Richardson Financial Services Inc. acquired a new stake in Enbridge during the 1st quarter worth approximately $31,000. PFS Partners LLC raised its holdings in Enbridge by 95.8% in the first quarter. PFS Partners LLC now owns 922 shares of the pipeline company’s stock valued at $33,000 after buying an additional 451 shares during the period. Finally, Northwest Bank & Trust Co acquired a new position in Enbridge during the fourth quarter valued at approximately $34,000. Institutional investors and hedge funds own 54.60% of the company’s stock.

Enbridge Price Performance

ENB opened at $40.78 on Friday. The company has a 50 day moving average of $39.18 and a two-hundred day moving average of $36.94. Enbridge Inc. has a 52-week low of $31.03 and a 52-week high of $41.22. The company has a quick ratio of 0.68, a current ratio of 0.77 and a debt-to-equity ratio of 1.34. The company has a market cap of $87.01 billion, a P/E ratio of 20.70, a P/E/G ratio of 3.93 and a beta of 0.94.

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

Enbridge Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Thursday, August 15th were paid a $0.669 dividend. The ex-dividend date was Thursday, August 15th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 6.56%. Enbridge’s dividend payout ratio (DPR) 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.