Stokes Capital Advisors LLC Has $3.67 Million Stock Holdings in Enbridge Inc. (NYSE:ENB)

Stokes Capital Advisors LLC raised its position in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 7.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 103,076 shares of the pipeline company’s stock after purchasing an additional 7,478 shares during the period. Stokes Capital Advisors LLC’s holdings in Enbridge were worth $3,668,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ENB. Perigon Wealth Management LLC boosted its position in Enbridge by 3.7% in the first quarter. Perigon Wealth Management LLC now owns 8,827 shares of the pipeline company’s stock valued at $319,000 after buying an additional 314 shares in the last quarter. Fifth Third Bancorp grew its position in Enbridge by 0.4% during the 1st quarter. Fifth Third Bancorp now owns 86,751 shares of the pipeline company’s stock worth $3,139,000 after acquiring an additional 324 shares during the last quarter. RFG Advisory LLC increased its holdings in Enbridge by 2.3% in the 2nd quarter. RFG Advisory LLC now owns 14,183 shares of the pipeline company’s stock worth $505,000 after purchasing an additional 325 shares in the last quarter. Capital Investment Counsel Inc raised its position in Enbridge by 5.2% in the fourth quarter. Capital Investment Counsel Inc now owns 6,564 shares of the pipeline company’s stock valued at $237,000 after purchasing an additional 326 shares during the last quarter. Finally, Checchi Capital Advisers LLC boosted its stake in shares of Enbridge by 2.8% during the first quarter. Checchi Capital Advisers LLC now owns 12,506 shares of the pipeline company’s stock valued at $452,000 after purchasing an additional 337 shares in the last quarter. 54.60% of the stock is currently owned by institutional investors.

Enbridge Trading Up 0.3 %

Shares of Enbridge stock traded up $0.13 on Friday, hitting $38.70. The stock had a trading volume of 3,323,491 shares, compared to its average volume of 5,453,265. The stock has a 50 day moving average of $36.43 and a 200 day moving average of $35.85. The firm has a market capitalization of $82.58 billion, a P/E ratio of 19.64, a PEG ratio of 3.55 and a beta of 0.92. Enbridge Inc. has a twelve month low of $31.03 and a twelve month high of $39.72. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.59 and a current ratio of 0.68.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings results on Friday, August 2nd. The pipeline company reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.13. The firm had revenue of $8.29 billion during the quarter, compared to the consensus estimate of $4.28 billion. Enbridge had a net margin of 13.59% and a return on equity of 10.53%. During the same quarter last year, the firm earned $0.51 earnings per share. Sell-side analysts expect that Enbridge Inc. will post 2.12 earnings per share for the current fiscal 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 paid a $0.669 dividend. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $2.68 annualized dividend and a dividend yield of 6.91%. Enbridge’s payout ratio is 134.01%.

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.