Canandaigua National Bank & Trust Co. Acquires 1,589 Shares of Enbridge Inc. (NYSE:ENB)

Canandaigua National Bank & Trust Co. boosted its position in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 7.6% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,626 shares of the pipeline company’s stock after purchasing an additional 1,589 shares during the quarter. Canandaigua National Bank & Trust Co.’s holdings in Enbridge were worth $805,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently modified their holdings of the business. Harbor Investment Advisory LLC raised its position in shares of 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 in the last quarter. Perigon Wealth Management LLC raised its position in 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 purchasing an additional 314 shares in the last quarter. Fifth Third Bancorp lifted its stake in Enbridge by 0.4% during 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 boosted its holdings in shares of Enbridge by 5.2% in the 4th 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 in the last quarter. Finally, Checchi Capital Advisers LLC increased its position in shares of 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 last quarter. Institutional investors own 54.60% of the company’s stock.

Enbridge Price Performance

NYSE:ENB traded up $0.20 during mid-day trading on Friday, reaching $38.93. The stock had a trading volume of 2,788,734 shares, compared to its average volume of 5,472,847. Enbridge Inc. has a one year low of $31.03 and a one year high of $38.95. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.59 and a current ratio of 0.68. The firm has a 50 day moving average price of $36.10 and a two-hundred day moving average price of $35.71. The stock has a market capitalization of $83.07 billion, a P/E ratio of 19.61, a P/E/G ratio of 3.55 and a beta of 0.92.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings results on Friday, August 2nd. The pipeline company reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.13. The business had revenue of $8.29 billion during the quarter, compared to the consensus estimate of $4.28 billion. Enbridge had a net margin of 13.59% and a return on equity of 10.53%. During the same period in the previous year, the firm posted $0.51 earnings per share. As a group, analysts expect that Enbridge Inc. will post 2.12 earnings per share for the current year.

Enbridge Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, September 1st. Shareholders of record on Thursday, August 15th will be given a $0.669 dividend. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $2.68 annualized dividend and a yield of 6.87%. Enbridge’s payout ratio is currently 134.01%.

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.