Enbridge Inc. (NYSE:ENB) Holdings Raised by Insight Folios Inc

Insight Folios Inc lifted its stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 6.3% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 166,657 shares of the pipeline company’s stock after purchasing an additional 9,881 shares during the quarter. Enbridge comprises about 2.4% of Insight Folios Inc’s investment portfolio, making the stock its 23rd largest holding. Insight Folios Inc’s holdings in Enbridge were worth $6,030,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of ENB. BOK Financial Private Wealth Inc. bought a new stake in shares of Enbridge during the fourth quarter valued at about $25,000. Baystate Wealth Management LLC raised its position in Enbridge by 836.4% in the fourth quarter. Baystate Wealth Management LLC now owns 721 shares of the pipeline company’s stock worth $26,000 after acquiring an additional 644 shares in the last quarter. Tennessee Valley Asset Management Partners bought a new stake in Enbridge in the fourth quarter worth about $28,000. Financial Gravity Asset Management Inc. raised its position in Enbridge by 2,294.6% in the third quarter. Financial Gravity Asset Management Inc. now owns 886 shares of the pipeline company’s stock worth $29,000 after acquiring an additional 849 shares in the last quarter. Finally, PFS Partners LLC raised its position in Enbridge by 95.8% in the first quarter. PFS Partners LLC now owns 922 shares of the pipeline company’s stock worth $33,000 after acquiring an additional 451 shares in the last quarter. 54.60% of the stock is currently owned by institutional investors.

Enbridge Price Performance

Enbridge stock traded up $0.08 during midday trading on Thursday, hitting $35.89. The company’s stock had a trading volume of 2,220,354 shares, compared to its average volume of 4,510,094. The company has a quick ratio of 0.59, a current ratio of 0.68 and a debt-to-equity ratio of 1.35. The stock’s 50-day moving average price is $36.02 and its 200-day moving average price is $35.64. Enbridge Inc. has a 12 month low of $31.03 and a 12 month high of $38.37. The company has a market capitalization of $76.59 billion, a PE ratio of 18.22, a price-to-earnings-growth ratio of 3.36 and a beta of 0.92.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings results on Friday, May 10th. The pipeline company reported $0.68 EPS for the quarter, topping 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 firm had revenue of $8.19 billion for the quarter, compared to analysts’ expectations of $9 billion. Analysts anticipate that Enbridge Inc. will post 2.13 earnings per share for the current fiscal year.

Enbridge Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Saturday, June 1st. Shareholders of record on Wednesday, May 15th were issued a dividend of $0.677 per share. This represents a $2.71 annualized dividend and a yield of 7.55%. The ex-dividend date was Tuesday, May 14th. This is an increase from Enbridge’s previous quarterly dividend of $0.66. Enbridge’s payout ratio is presently 136.04%.

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.