Applied Capital LLC FL Purchases 12,188 Shares of Enbridge Inc. (NYSE:ENB)

Applied Capital LLC FL increased its stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 89.1% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 25,871 shares of the pipeline company’s stock after purchasing an additional 12,188 shares during the quarter. Applied Capital LLC FL’s holdings in Enbridge were worth $936,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. BOK Financial Private Wealth Inc. bought a new position in Enbridge in the 4th quarter worth $25,000. Baystate Wealth Management LLC raised its holdings in Enbridge by 836.4% in the 4th quarter. Baystate Wealth Management LLC now owns 721 shares of the pipeline company’s stock worth $26,000 after purchasing an additional 644 shares during the period. Tennessee Valley Asset Management Partners bought a new position in Enbridge in the 4th quarter worth $28,000. Financial Gravity Asset Management Inc. raised its holdings in Enbridge by 2,294.6% in the 3rd quarter. Financial Gravity Asset Management Inc. now owns 886 shares of the pipeline company’s stock worth $29,000 after purchasing an additional 849 shares during the period. Finally, PFS Partners LLC raised its holdings in Enbridge by 95.8% in the 1st quarter. PFS Partners LLC now owns 922 shares of the pipeline company’s stock worth $33,000 after purchasing an additional 451 shares during the period. 54.60% of the stock is owned by institutional investors.

Enbridge Stock Performance

Enbridge stock traded up $0.42 during trading on Tuesday, reaching $35.69. The company had a trading volume of 2,446,486 shares, compared to its average volume of 5,669,150. Enbridge Inc. has a 52 week low of $31.03 and a 52 week high of $38.37. The firm’s 50-day simple moving average is $36.01 and its 200 day simple moving average is $35.63. The firm has a market capitalization of $76.16 billion, a price-to-earnings ratio of 18.10, a price-to-earnings-growth ratio of 3.34 and a beta of 0.92. 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 issued its quarterly earnings results on Friday, May 10th. The pipeline company reported $0.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.59 by $0.09. Enbridge had a return on equity of 10.53% and a net margin of 13.59%. The business had revenue of $8.19 billion during the quarter, compared to analyst estimates of $9 billion. Sell-side analysts forecast that Enbridge Inc. will post 2.13 earnings per share for the current fiscal year.

Enbridge Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Saturday, June 1st. Shareholders of record on Wednesday, May 15th were paid a $0.677 dividend. This represents a $2.71 dividend on an annualized basis and a yield of 7.59%. The ex-dividend date was Tuesday, May 14th. This is a positive change from Enbridge’s previous quarterly dividend of $0.66. Enbridge’s dividend payout ratio is presently 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.