Ontario Teachers Pension Plan Board Reduces Holdings in Enbridge Inc. (NYSE:ENB)

Ontario Teachers Pension Plan Board reduced its stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 17.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 36,587 shares of the pipeline company’s stock after selling 7,709 shares during the period. Ontario Teachers Pension Plan Board’s holdings in Enbridge were worth $1,326,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Harbor Investment Advisory LLC raised its holdings in Enbridge by 5.2% during the 4th quarter. Harbor Investment Advisory LLC now owns 5,623 shares of the pipeline company’s stock valued at $203,000 after buying an additional 280 shares during the last quarter. Perigon Wealth Management LLC raised its stake in shares of Enbridge by 3.7% during the first quarter. Perigon Wealth Management LLC now owns 8,827 shares of the pipeline company’s stock valued at $319,000 after acquiring an additional 314 shares during the last quarter. Fifth Third Bancorp grew its stake in shares of Enbridge by 0.4% in the first quarter. Fifth Third Bancorp now owns 86,751 shares of the pipeline company’s stock worth $3,139,000 after purchasing an additional 324 shares during the last quarter. Capital Investment Counsel Inc grew its stake in shares of Enbridge by 5.2% in the fourth quarter. Capital Investment Counsel Inc now owns 6,564 shares of the pipeline company’s stock worth $237,000 after purchasing an additional 326 shares during the last quarter. Finally, Checchi Capital Advisers LLC increased its holdings in Enbridge by 2.8% during the 1st quarter. Checchi Capital Advisers LLC now owns 12,506 shares of the pipeline company’s stock valued at $452,000 after purchasing an additional 337 shares during the period. Institutional investors own 54.60% of the company’s stock.

Enbridge Trading Down 0.5 %

Shares of ENB stock traded down $0.17 during trading hours on Tuesday, reaching $36.57. The company’s stock had a trading volume of 318,456 shares, compared to its average volume of 5,482,255. 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 stock has a market capitalization of $79.63 billion, a P/E ratio of 18.65, a P/E/G ratio of 3.41 and a beta of 0.92. The firm’s fifty day simple moving average is $35.86 and its 200 day simple moving average is $35.62. Enbridge Inc. has a one year low of $31.03 and a one year high of $38.37.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings data on Friday, May 10th. The pipeline company reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.09. Enbridge had a return on equity of 10.53% and a net margin of 13.59%. The business had revenue of $8.19 billion for the quarter, compared to analysts’ expectations of $9 billion. Equities research analysts expect that Enbridge Inc. will post 2.14 EPS for the current year.

Enbridge Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Saturday, June 1st. Investors of record on Wednesday, May 15th were paid a $0.677 dividend. This represents a $2.71 annualized dividend and a yield of 7.40%. This is a boost from Enbridge’s previous quarterly dividend of $0.66. The ex-dividend date of this dividend was Tuesday, May 14th. Enbridge’s dividend 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.