Everett Harris & Co. CA Sells 6,860 Shares of Enbridge Inc. (NYSE:ENB)

Everett Harris & Co. CA lessened its stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 12.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 49,691 shares of the pipeline company’s stock after selling 6,860 shares during the period. Everett Harris & Co. CA’s holdings in Enbridge were worth $1,798,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Harbor Investment Advisory LLC grew its stake in shares of Enbridge by 5.2% in the fourth quarter. Harbor Investment Advisory LLC now owns 5,623 shares of the pipeline company’s stock worth $203,000 after acquiring an additional 280 shares during the last quarter. Capital Investment Counsel Inc increased its holdings in Enbridge by 5.2% in the 4th quarter. Capital Investment Counsel Inc now owns 6,564 shares of the pipeline company’s stock valued at $237,000 after buying an additional 326 shares during the period. Nations Financial Group Inc. IA ADV raised its stake in shares of Enbridge by 1.9% in the 4th quarter. Nations Financial Group Inc. IA ADV now owns 17,933 shares of the pipeline company’s stock valued at $646,000 after buying an additional 340 shares in the last quarter. Investment Partners LTD. boosted its position in shares of Enbridge by 2.5% during the 1st quarter. Investment Partners LTD. now owns 14,340 shares of the pipeline company’s stock valued at $519,000 after acquiring an additional 351 shares in the last quarter. Finally, Pine Valley Investments Ltd Liability Co raised its position in Enbridge by 3.3% in the fourth quarter. Pine Valley Investments Ltd Liability Co now owns 11,309 shares of the pipeline company’s stock worth $407,000 after purchasing an additional 359 shares in the last quarter. Institutional investors own 54.60% of the company’s stock.

Enbridge Price Performance

ENB stock traded up $0.08 during trading on Thursday, hitting $35.89. The company had a trading volume of 2,220,354 shares, compared to its average volume of 4,510,094. The company has a current ratio of 0.68, a quick ratio of 0.59 and a debt-to-equity ratio of 1.35. The company has a fifty day moving average price of $36.02 and a two-hundred day moving average price of $35.64. Enbridge Inc. has a fifty-two week low of $31.03 and a fifty-two week high of $38.37. The company has a market cap of $76.59 billion, a P/E ratio of 18.22, a P/E/G ratio of 3.36 and a beta of 0.92.

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. The firm had revenue of $8.19 billion during the quarter, compared to the consensus estimate of $9 billion. Enbridge had a net margin of 13.59% and a return on equity of 10.53%. Equities research analysts expect that Enbridge Inc. will post 2.13 earnings per share for the current fiscal year.

Enbridge Increases Dividend

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