Enbridge Inc. (NYSE:ENB) Shares Purchased by STAR Financial Bank

STAR Financial Bank lifted its position in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 13.2% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,431 shares of the pipeline company’s stock after buying an additional 750 shares during the quarter. STAR Financial Bank’s holdings in Enbridge were worth $229,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Norges Bank purchased a new stake in Enbridge in the fourth quarter valued at approximately $714,662,000. TD Asset Management Inc grew its stake in shares of Enbridge by 24.9% during the 4th quarter. TD Asset Management Inc now owns 37,749,760 shares of the pipeline company’s stock valued at $1,365,583,000 after buying an additional 7,536,678 shares during the period. M&G Plc acquired a new stake in shares of Enbridge during the 1st quarter worth $152,843,000. Canada Pension Plan Investment Board raised its position 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 buying an additional 3,624,089 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its holdings in Enbridge by 15.2% in the fourth quarter. The Manufacturers Life Insurance Company now owns 21,932,752 shares of the pipeline company’s stock valued at $790,785,000 after acquiring an additional 2,895,742 shares during the last quarter. 54.60% of the stock is owned by hedge funds and other institutional investors.

Enbridge Stock Performance

NYSE ENB opened at $40.27 on Wednesday. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.77 and a quick ratio of 0.68. Enbridge Inc. has a 1-year low of $31.03 and a 1-year high of $40.83. The business’s 50-day simple moving average is $38.01 and its 200-day simple moving average is $36.48. The firm has a market capitalization of $87.67 billion, a P/E ratio of 20.44, a P/E/G ratio of 3.92 and a beta of 0.93.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings data 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. Enbridge had a net margin of 13.31% and a return on equity of 10.07%. The company had revenue of $8.29 billion during the quarter, compared to the consensus estimate of $4.28 billion. During the same quarter last year, the company earned $0.51 earnings per share. Equities analysts predict that Enbridge Inc. will post 2.06 EPS for the current year.

Enbridge Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Thursday, August 15th were paid a $0.669 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 6.65%. Enbridge’s dividend payout ratio (DPR) 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.