RFG Advisory LLC Grows Holdings in Enbridge Inc. (NYSE:ENB)

RFG Advisory LLC grew its stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 2.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,183 shares of the pipeline company’s stock after buying an additional 325 shares during the period. RFG Advisory LLC’s holdings in Enbridge were worth $505,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Canoe Financial LP raised its holdings in Enbridge by 80,631.1% during the 4th quarter. Canoe Financial LP now owns 33,460,611 shares of the pipeline company’s stock valued at $1,205,251,000 after buying an additional 33,419,164 shares during the last quarter. Norges Bank bought a new position in shares of Enbridge in the 4th quarter worth about $714,662,000. TD Asset Management Inc increased its stake in shares of Enbridge by 24.9% in the 4th quarter. TD Asset Management Inc now owns 37,749,760 shares of the pipeline company’s stock worth $1,365,583,000 after acquiring an additional 7,536,678 shares in the last quarter. M&G Plc bought a new position in shares of Enbridge in the 1st quarter worth about $152,843,000. Finally, Canada Pension Plan Investment Board increased its stake in shares of Enbridge by 66.9% in the 1st 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 in the last quarter. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Enbridge Stock Up 0.5 %

Shares of Enbridge stock traded up $0.20 during trading on Monday, hitting $39.05. The company’s stock had a trading volume of 3,227,789 shares, compared to its average volume of 5,464,447. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.59 and a current ratio of 0.68. The company has a fifty day simple moving average of $36.14 and a two-hundred day simple moving average of $35.73. The company has a market capitalization of $83.33 billion, a PE ratio of 19.85, a P/E/G ratio of 3.55 and a beta of 0.92. Enbridge Inc. has a 52 week low of $31.03 and a 52 week high of $39.19.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings data on Friday, August 2nd. The pipeline company reported $0.58 EPS for the quarter, beating the consensus estimate of $0.45 by $0.13. Enbridge had a net margin of 13.59% and a return on equity of 10.53%. The company had revenue of $8.29 billion for the quarter, compared to the consensus estimate of $4.28 billion. During the same period in the prior year, the firm posted $0.51 EPS. Equities research analysts predict that Enbridge Inc. will post 2.12 earnings per share for the current year.

Enbridge Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Sunday, September 1st. Stockholders of record on Thursday, August 15th will be issued a dividend of $0.669 per share. This represents a $2.68 dividend on an annualized basis and a dividend yield of 6.85%. The ex-dividend date of this dividend is Thursday, August 15th. Enbridge’s 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.