Atomi Financial Group Inc. Invests $347,000 in Enbridge Inc. (NYSE:ENB)

Atomi Financial Group Inc. acquired a new position in Enbridge Inc. (NYSE:ENB) (TSE:ENB) in the first quarter, HoldingsChannel reports. The institutional investor acquired 9,590 shares of the pipeline company’s stock, valued at approximately $347,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. BOK Financial Private Wealth Inc. bought a new position in shares of Enbridge during the fourth quarter worth $25,000. Baystate Wealth Management LLC boosted its position in shares of Enbridge by 836.4% during the fourth quarter. Baystate Wealth Management LLC now owns 721 shares of the pipeline company’s stock worth $26,000 after acquiring an additional 644 shares during the last quarter. Tennessee Valley Asset Management Partners bought a new position in shares of Enbridge during the fourth quarter worth $28,000. Richardson Financial Services Inc. bought a new position in shares of Enbridge during the first quarter worth $31,000. Finally, PFS Partners LLC boosted its position in shares of Enbridge by 95.8% during the first quarter. PFS Partners LLC now owns 922 shares of the pipeline company’s stock worth $33,000 after acquiring an additional 451 shares during the last quarter. 54.60% of the stock is owned by hedge funds and other institutional investors.

Enbridge Price Performance

Shares of NYSE:ENB traded down $0.07 during midday trading on Monday, reaching $36.03. 1,835,100 shares of the company were exchanged, compared to its average volume of 5,509,147. The company has a current ratio of 0.68, a quick ratio of 0.59 and a debt-to-equity ratio of 1.35. The business’s fifty day moving average is $35.98 and its two-hundred day moving average is $35.62. Enbridge Inc. has a one year low of $31.03 and a one year high of $38.37. The stock has a market cap of $76.88 billion, a PE ratio of 18.27, a price-to-earnings-growth ratio of 3.37 and a beta of 0.92.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings data on Friday, May 10th. The pipeline company reported $0.68 EPS for the quarter, beating the consensus estimate of $0.59 by $0.09. Enbridge had a net margin of 13.59% and a return on equity of 10.53%. The business had revenue of $8.19 billion during the quarter, compared to analyst estimates of $9 billion. As a group, analysts predict that Enbridge Inc. will post 2.14 earnings per share for the current year.

Enbridge Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Saturday, June 1st. Shareholders of record on Wednesday, May 15th were given a dividend of $0.677 per share. The ex-dividend date was Tuesday, May 14th. This represents a $2.71 annualized dividend and a yield of 7.52%. This is a positive change from Enbridge’s previous quarterly dividend of $0.66. Enbridge’s dividend payout ratio (DPR) is 136.04%.

Enbridge 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.