Doheny Asset Management CA Raises Stock Holdings in Enbridge Inc. (NYSE:ENB)

Doheny Asset Management CA increased its stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 4.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 62,722 shares of the pipeline company’s stock after purchasing an additional 2,673 shares during the quarter. Enbridge makes up approximately 1.3% of Doheny Asset Management CA’s holdings, making the stock its 26th largest holding. Doheny Asset Management CA’s holdings in Enbridge were worth $2,232,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. M&G Plc acquired a new position in Enbridge in the 1st quarter valued at $152,843,000. Cibc World Market Inc. lifted its holdings in shares of Enbridge by 12.8% during the 2nd quarter. Cibc World Market Inc. now owns 32,531,675 shares of the pipeline company’s stock worth $1,157,802,000 after acquiring an additional 3,693,495 shares during the period. Canada Pension Plan Investment Board boosted its position in shares of Enbridge by 66.9% in the first quarter. Canada Pension Plan Investment Board now owns 9,044,864 shares of the pipeline company’s stock worth $327,172,000 after acquiring an additional 3,624,089 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in Enbridge by 15.2% in the fourth quarter. The Manufacturers Life Insurance Company now owns 21,932,752 shares of the pipeline company’s stock valued at $790,785,000 after purchasing an additional 2,895,742 shares during the period. Finally, National Bank of Canada FI grew its stake in shares of Enbridge by 11.3% during the 1st quarter. National Bank of Canada FI now owns 21,664,748 shares of the pipeline company’s stock valued at $818,370,000 after buying an additional 2,203,123 shares during the period. 54.60% of the stock is owned by institutional investors and hedge funds.

Enbridge Stock Performance

Shares of NYSE:ENB opened at $40.71 on Friday. The business has a 50-day moving average of $39.26 and a two-hundred day moving average of $36.98. The firm has a market capitalization of $86.87 billion, a PE ratio of 20.66, a P/E/G ratio of 3.93 and a beta of 0.94. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.77 and a quick ratio of 0.68. Enbridge Inc. has a 12 month low of $31.03 and a 12 month high of $41.22.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its earnings results on Friday, August 2nd. The pipeline company reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.13. Enbridge had a net margin of 13.31% and a return on equity of 10.07%. The business had revenue of $8.29 billion for the quarter, compared to analyst estimates of $4.28 billion. During the same quarter in the previous year, the business posted $0.51 EPS. As a group, research analysts forecast that Enbridge Inc. will post 2.08 earnings per share for the current year.

Enbridge Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Thursday, August 15th were given a dividend of $0.669 per share. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 6.57%. 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.