Lighthouse Investment Partners LLC Purchases 1,226 Shares of Enbridge Inc. (NYSE:ENB)

Lighthouse Investment Partners LLC lifted its position in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 21.4% in the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 6,952 shares of the pipeline company’s stock after acquiring an additional 1,226 shares during the period. Lighthouse Investment Partners LLC’s holdings in Enbridge were worth $247,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in ENB. Sei Investments Co. raised its holdings in Enbridge by 6.1% in the first quarter. Sei Investments Co. now owns 274,235 shares of the pipeline company’s stock worth $9,922,000 after purchasing an additional 15,650 shares in the last quarter. State Board of Administration of Florida Retirement System bought a new position in shares of Enbridge in the 1st quarter worth about $1,133,000. Vanguard Group Inc. lifted its position in Enbridge by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 84,280,486 shares of the pipeline company’s stock valued at $3,049,268,000 after acquiring an additional 1,227,031 shares during the period. Sanibel Captiva Trust Company Inc. bought a new stake in Enbridge during the fourth quarter worth about $26,358,000. Finally, Intech Investment Management LLC purchased a new stake in Enbridge in the first quarter worth about $4,069,000. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Enbridge Price Performance

Shares of NYSE ENB opened at $40.71 on Monday. The company has a 50 day simple moving average of $39.26 and a two-hundred day simple moving average of $36.99. Enbridge Inc. has a fifty-two week low of $31.03 and a fifty-two week high of $41.22. The company has a market capitalization of $86.87 billion, a price-to-earnings 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 quick ratio of 0.68 and a current ratio of 0.77.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings data on Friday, August 2nd. The pipeline company reported $0.58 earnings per share for the quarter, beating analysts’ consensus estimates of $0.45 by $0.13. Enbridge had a return on equity of 10.07% and a net margin of 13.31%. The company had revenue of $8.29 billion during the quarter, compared to analyst estimates of $4.28 billion. During the same quarter last year, the company earned $0.51 EPS. Analysts expect that Enbridge Inc. will post 2.08 EPS for the current fiscal year.

Enbridge Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Thursday, August 15th were given a $0.669 dividend. This represents a $2.68 annualized dividend and a dividend yield of 6.57%. The ex-dividend date was Thursday, August 15th. Enbridge’s dividend payout ratio is presently 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.