Wealth Enhancement Advisory Services LLC Buys 36,085 Shares of Enbridge Inc. (NYSE:ENB)

Wealth Enhancement Advisory Services LLC raised its position in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 5.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 714,965 shares of the pipeline company’s stock after buying an additional 36,085 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Enbridge were worth $25,867,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Canoe Financial LP boosted its holdings in Enbridge by 80,631.1% in the 4th quarter. Canoe Financial LP now owns 33,460,611 shares of the pipeline company’s stock worth $1,205,251,000 after buying an additional 33,419,164 shares during the period. Wellington Management Group LLP boosted its holdings in shares of Enbridge by 630.3% in the third quarter. Wellington Management Group LLP now owns 32,531,108 shares of the pipeline company’s stock worth $1,083,938,000 after acquiring an additional 28,076,386 shares during the period. Norges Bank purchased a new position in shares of Enbridge in the fourth quarter valued at $714,662,000. TD Asset Management Inc raised 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 purchasing an additional 7,536,678 shares during the period. Finally, Vanguard Group Inc. lifted its holdings in Enbridge by 5.7% during the 3rd quarter. Vanguard Group Inc. now owns 81,491,857 shares of the pipeline company’s stock worth $2,704,715,000 after purchasing an additional 4,400,848 shares in the last quarter. 54.60% of the stock is currently owned by institutional investors.

Enbridge Price Performance

ENB stock traded down $0.08 during mid-day trading on Thursday, reaching $35.27. 3,578,785 shares of the company traded hands, compared to its average volume of 5,718,373. The company has a fifty day moving average price of $35.97 and a 200-day moving average price of $35.62. Enbridge Inc. has a 52-week low of $31.03 and a 52-week high of $38.37. The company has a market capitalization of $74.98 billion, a P/E ratio of 17.93, a P/E/G ratio of 3.28 and a beta of 0.90. 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 posted its earnings results on Friday, May 10th. The pipeline company reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.09. The business had revenue of $8.19 billion for the quarter, compared to analysts’ expectations of $9 billion. Enbridge had a net margin of 13.59% and a return on equity of 10.53%. As a group, analysts anticipate that Enbridge Inc. will post 2.13 earnings per share for the current year.

Enbridge Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Saturday, June 1st. Shareholders of record on Wednesday, May 15th were given a dividend of $0.677 per share. The ex-dividend date of this dividend was Tuesday, May 14th. This is a positive change from Enbridge’s previous quarterly dividend of $0.66. This represents a $2.71 annualized dividend and a yield of 7.68%. Enbridge’s payout ratio is presently 136.04%.

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.