M&G Plc Sells 163,027 Shares of Enbridge Inc. (NYSE:ENB)

M&G Plc trimmed its position in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 3.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,060,269 shares of the pipeline company’s stock after selling 163,027 shares during the period. Enbridge accounts for 0.9% of M&G Plc’s investment portfolio, making the stock its 26th biggest position. M&G Plc owned about 0.19% of Enbridge worth $145,447,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the company. Sei Investments Co. raised its position in Enbridge by 6.1% in the 1st quarter. Sei Investments Co. now owns 274,235 shares of the pipeline company’s stock worth $9,922,000 after purchasing an additional 15,650 shares during the period. Clarius Group LLC raised its position in Enbridge by 25.2% in the 4th quarter. Clarius Group LLC now owns 8,031 shares of the pipeline company’s stock worth $289,000 after purchasing an additional 1,617 shares during the period. State Board of Administration of Florida Retirement System purchased a new position in Enbridge in the 1st quarter worth $1,133,000. Savant Capital LLC raised its position in Enbridge by 23.1% in the 4th quarter. Savant Capital LLC now owns 21,547 shares of the pipeline company’s stock worth $776,000 after purchasing an additional 4,049 shares during the period. Finally, CAP Partners LLC purchased a new position in Enbridge in the 4th quarter worth $391,000. 54.60% of the stock is owned by institutional investors.

Enbridge Trading Up 0.8 %

NYSE:ENB traded up $0.33 during trading hours on Tuesday, reaching $39.38. The company’s stock had a trading volume of 4,965,174 shares, compared to its average volume of 5,461,249. The firm has a market capitalization of $84.02 billion, a price-to-earnings ratio of 20.03, a PEG ratio of 3.55 and a beta of 0.92. The firm has a 50-day simple moving average of $36.19 and a 200-day simple moving average of $35.75. Enbridge Inc. has a 1 year low of $31.03 and a 1 year high of $39.49. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.59 and a current ratio of 0.68.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its earnings results on Friday, August 2nd. The pipeline company reported $0.58 EPS for the quarter, topping analysts’ consensus estimates of $0.45 by $0.13. Enbridge had a net margin of 13.59% and a return on equity of 10.53%. The company had revenue of $8.29 billion for the quarter, compared to analysts’ expectations of $4.28 billion. During the same quarter last year, the company earned $0.51 EPS. Research analysts expect that Enbridge Inc. will post 2.12 EPS for the current fiscal year.

Enbridge Cuts Dividend

The company 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. This represents a $2.68 dividend on an annualized basis and a dividend yield of 6.80%. The ex-dividend date is Thursday, August 15th. Enbridge’s payout ratio is 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.