Enbridge Inc. (NYSE:ENB) is S.E.E.D. Planning Group LLC’s 10th Largest Position

S.E.E.D. Planning Group LLC boosted its holdings in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 7.6% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 247,091 shares of the pipeline company’s stock after purchasing an additional 17,428 shares during the quarter. Enbridge comprises approximately 3.3% of S.E.E.D. Planning Group LLC’s portfolio, making the stock its 10th biggest position. S.E.E.D. Planning Group LLC’s holdings in Enbridge were worth $8,940,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. BOK Financial Private Wealth Inc. acquired a new stake in shares of Enbridge in the fourth quarter valued at approximately $25,000. Baystate Wealth Management LLC raised its position in Enbridge by 836.4% in the 4th quarter. Baystate Wealth Management LLC now owns 721 shares of the pipeline company’s stock valued at $26,000 after purchasing an additional 644 shares during the last quarter. Tennessee Valley Asset Management Partners purchased a new position in Enbridge during the 4th quarter worth $28,000. Financial Gravity Asset Management Inc. increased its stake in Enbridge by 2,294.6% in the third quarter. Financial Gravity Asset Management Inc. now owns 886 shares of the pipeline company’s stock valued at $29,000 after purchasing an additional 849 shares during the period. Finally, PFS Partners LLC raised its holdings in shares of 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 last quarter. 54.60% of the stock is owned by hedge funds and other institutional investors.

Enbridge Stock Performance

Shares of ENB traded up $0.33 during mid-day trading on Friday, hitting $35.59. 4,374,256 shares of the company’s stock were exchanged, compared to its average volume of 4,628,726. The firm has a market capitalization of $75.95 billion, a P/E ratio of 18.07, a P/E/G ratio of 3.31 and a beta of 0.90. Enbridge Inc. has a fifty-two week low of $31.03 and a fifty-two week high of $38.37. The business’s 50 day moving average is $36.01 and its two-hundred day moving average is $35.63. The company has a current ratio of 0.68, a quick ratio of 0.59 and a debt-to-equity ratio of 1.35.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its earnings results on Friday, May 10th. The pipeline company reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.09. Enbridge had a return on equity of 10.53% and a net margin of 13.59%. The company had revenue of $8.19 billion for the quarter, compared to the consensus estimate of $9 billion. On average, equities analysts expect that Enbridge Inc. will post 2.13 earnings per share for the current year.

Enbridge Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Saturday, June 1st. Stockholders of record on Wednesday, May 15th were paid a $0.677 dividend. This represents a $2.71 annualized dividend and a dividend yield of 7.61%. The ex-dividend date of this dividend was Tuesday, May 14th. This is a boost from Enbridge’s previous quarterly dividend of $0.66. Enbridge’s dividend payout ratio (DPR) is 136.04%.

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.