AdvisorNet Financial Inc Boosts Stake in Enbridge Inc. (NYSE:ENB)

AdvisorNet Financial Inc lifted its position in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 7.0% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,351 shares of the pipeline company’s stock after purchasing an additional 478 shares during the quarter. AdvisorNet Financial Inc’s holdings in Enbridge were worth $262,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Sei Investments Co. raised its holdings in Enbridge by 6.1% during the first quarter. Sei Investments Co. now owns 274,235 shares of the pipeline company’s stock valued at $9,922,000 after acquiring an additional 15,650 shares during the period. State Board of Administration of Florida Retirement System purchased a new position in Enbridge in the first quarter worth about $1,133,000. Savant Capital LLC grew its position in Enbridge by 23.1% in the fourth quarter. Savant Capital LLC now owns 21,547 shares of the pipeline company’s stock worth $776,000 after acquiring an additional 4,049 shares in the last quarter. CAP Partners LLC purchased a new position in Enbridge in the fourth quarter worth about $391,000. Finally, Cerity Partners LLC boosted its position in shares of Enbridge by 41.7% during the fourth quarter. Cerity Partners LLC now owns 132,744 shares of the pipeline company’s stock valued at $4,781,000 after buying an additional 39,079 shares during the period. Institutional investors own 54.60% of the company’s stock.

Enbridge Trading Down 2.5 %

Shares of NYSE:ENB traded down $0.97 during trading hours on Thursday, hitting $38.57. 2,939,107 shares of the company’s stock traded hands, compared to its average volume of 5,459,422. Enbridge Inc. has a 1 year low of $31.03 and a 1 year high of $39.72. The business has a fifty day moving average price of $36.33 and a 200-day moving average price of $35.81. The firm has a market capitalization of $82.30 billion, a P/E ratio of 20.07, a price-to-earnings-growth ratio of 3.55 and a beta of 0.92. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.68 and a quick ratio of 0.59.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings data on Friday, August 2nd. The pipeline company reported $0.58 EPS for the quarter, beating analysts’ consensus estimates of $0.45 by $0.13. The company 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 in the prior year, the firm earned $0.51 EPS. Equities analysts expect that Enbridge Inc. will post 2.12 earnings per share for the current year.

Enbridge Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Sunday, September 1st. Investors of record on Thursday, August 15th will be issued a $0.669 dividend. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $2.68 annualized dividend and a yield of 6.94%. 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.