Demars Financial Group LLC Has $754,000 Holdings in Enbridge Inc. (NYSE:ENB)

Demars Financial Group LLC lessened its stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 4.7% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 21,173 shares of the pipeline company’s stock after selling 1,050 shares during the quarter. Enbridge comprises 0.4% of Demars Financial Group LLC’s investment portfolio, making the stock its 26th biggest position. Demars Financial Group LLC’s holdings in Enbridge were worth $754,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of ENB. Canoe Financial LP raised its stake in Enbridge by 80,631.1% in the fourth quarter. Canoe Financial LP now owns 33,460,611 shares of the pipeline company’s stock valued at $1,205,251,000 after purchasing an additional 33,419,164 shares in the last quarter. Norges Bank acquired a new position in Enbridge during the fourth quarter worth about $714,662,000. TD Asset Management Inc raised its stake in Enbridge by 24.9% during the fourth 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 acquired a new position in Enbridge during the first quarter worth about $152,843,000. Finally, Canada Pension Plan Investment Board raised its stake in Enbridge by 66.9% during the first 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. Institutional investors and hedge funds own 54.60% of the company’s stock.

Enbridge Price Performance

NYSE ENB traded up $0.13 during trading on Friday, hitting $38.70. 3,323,491 shares of the company’s stock were exchanged, compared to its average volume of 5,453,265. 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 company has a market cap of $82.58 billion, a PE ratio of 19.64, a P/E/G ratio of 3.55 and a beta of 0.92. Enbridge Inc. has a fifty-two week low of $31.03 and a fifty-two week high of $39.72. The stock’s 50 day moving average price is $36.43 and its two-hundred day moving average price is $35.85.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its earnings results on Friday, August 2nd. The pipeline company reported $0.58 EPS for the quarter, topping the consensus estimate of $0.45 by $0.13. Enbridge had a return on equity of 10.53% and a net margin of 13.59%. The firm had revenue of $8.29 billion during the quarter, compared to the consensus estimate of $4.28 billion. During the same quarter in the previous year, the firm earned $0.51 earnings per share. Research analysts expect that Enbridge Inc. will post 2.12 EPS for the current year.

Enbridge Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, September 1st. Stockholders of record on Thursday, August 15th will be paid a $0.669 dividend. This represents a $2.68 annualized dividend and a dividend yield of 6.91%. The ex-dividend date of this dividend is Thursday, August 15th. Enbridge’s dividend payout ratio is currently 134.01%.

Enbridge Company 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.