Enbridge Inc. (NYSE:ENB) Shares Bought by Tortoise Capital Advisors L.L.C.

Tortoise Capital Advisors L.L.C. grew its position in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 4.7% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,533,032 shares of the pipeline company’s stock after buying an additional 203,972 shares during the quarter. Enbridge accounts for 2.1% of Tortoise Capital Advisors L.L.C.’s holdings, making the stock its 15th largest holding. Tortoise Capital Advisors L.L.C. owned approximately 0.21% of Enbridge worth $161,331,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. TruNorth Capital Management LLC purchased a new position in Enbridge during the 2nd quarter valued at about $28,000. Ameritas Investment Partners Inc. acquired a new position in shares of Enbridge in the first quarter valued at approximately $29,000. Richardson Financial Services Inc. purchased a new stake in Enbridge during the 1st quarter worth approximately $31,000. PFS Partners LLC increased its stake in Enbridge by 95.8% during the 1st quarter. PFS Partners LLC now owns 922 shares of the pipeline company’s stock worth $33,000 after buying an additional 451 shares during the period. Finally, Northwest Bank & Trust Co acquired a new stake in Enbridge during the 4th quarter worth approximately $34,000. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Enbridge Stock Performance

NYSE:ENB opened at $40.40 on Friday. Enbridge Inc. has a 52 week low of $31.03 and a 52 week high of $40.81. The company has a fifty day simple moving average of $37.81 and a two-hundred day simple moving average of $36.37. The company has a quick ratio of 0.68, a current ratio of 0.77 and a debt-to-equity ratio of 1.34. The company has a market cap of $86.20 billion, a price-to-earnings ratio of 20.51, a price-to-earnings-growth ratio of 3.90 and a beta of 0.92.

Enbridge (NYSE:ENB) (TSE:ENB) last released its earnings results on Friday, August 2nd. The pipeline company reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.45 by $0.13. The firm had revenue of $8.29 billion during the quarter, compared to analyst estimates of $4.28 billion. Enbridge had a return on equity of 10.07% and a net margin of 13.31%. During the same period last year, the business posted $0.51 earnings per share. As a group, equities analysts anticipate that Enbridge Inc. will post 2.06 earnings per share for the current fiscal year.

Enbridge Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Thursday, August 15th were issued a $0.669 dividend. The ex-dividend date was Thursday, August 15th. This represents a $2.68 annualized dividend and a yield of 6.62%. Enbridge’s dividend payout ratio (DPR) 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.