Farmers & Merchants Investments Inc. Sells 921 Shares of Enbridge Inc. (NYSE:ENB)

Farmers & Merchants Investments Inc. cut its holdings in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 0.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 301,557 shares of the pipeline company’s stock after selling 921 shares during the period. Farmers & Merchants Investments Inc.’s holdings in Enbridge were worth $10,910,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in Enbridge by 1.9% in the fourth quarter. Vanguard Group Inc. now owns 83,053,455 shares of the pipeline company’s stock worth $2,991,585,000 after purchasing an additional 1,561,598 shares during the last quarter. TD Asset Management Inc increased its position in shares of Enbridge by 24.9% in the fourth quarter. TD Asset Management Inc now owns 37,749,760 shares of the pipeline company’s stock valued at $1,365,583,000 after acquiring an additional 7,536,678 shares during the period. 1832 Asset Management L.P. increased its position in shares of Enbridge by 2.5% in the fourth quarter. 1832 Asset Management L.P. now owns 35,289,140 shares of the pipeline company’s stock valued at $1,271,115,000 after acquiring an additional 846,796 shares during the period. Canoe Financial LP increased its position in shares of Enbridge by 80,631.1% in the fourth quarter. Canoe Financial LP now owns 33,460,611 shares of the pipeline company’s stock valued at $1,205,251,000 after acquiring an additional 33,419,164 shares during the period. Finally, Wellington Management Group LLP increased its position 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 valued at $1,083,938,000 after acquiring an additional 28,076,386 shares during the period. 54.60% of the stock is owned by institutional investors.

Enbridge Trading Up 1.1 %

Shares of ENB stock traded up $0.40 during mid-day trading on Tuesday, reaching $35.67. The stock had a trading volume of 1,391,611 shares, compared to its average volume of 5,660,778. The stock’s 50-day moving average price is $36.01 and its two-hundred day moving average price is $35.63. Enbridge Inc. has a 52-week low of $31.03 and a 52-week high of $38.37. The firm has a market capitalization of $76.12 billion, a PE ratio of 18.10, a price-to-earnings-growth ratio of 3.34 and a beta of 0.92. The company has a current ratio of 0.68, a quick ratio of 0.59 and a debt-to-equity ratio of 1.35.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings results on Friday, May 10th. The pipeline company reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.59 by $0.09. Enbridge had a net margin of 13.59% and a return on equity of 10.53%. The company had revenue of $8.19 billion for the quarter, compared to analysts’ expectations of $9 billion. Equities analysts expect that Enbridge Inc. will post 2.13 earnings per share for the current fiscal year.

Enbridge Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Saturday, June 1st. Investors of record on Wednesday, May 15th were given a dividend of $0.677 per share. The ex-dividend date was Tuesday, May 14th. This represents a $2.71 annualized dividend and a dividend yield of 7.59%. This is a boost from Enbridge’s previous quarterly dividend of $0.66. Enbridge’s payout ratio is currently 136.04%.

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.