Enbridge Inc. (NYSE:ENB) Shares Sold by Addenda Capital Inc.

Addenda Capital Inc. decreased its holdings in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 3.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,580,205 shares of the pipeline company’s stock after selling 59,855 shares during the quarter. Enbridge makes up approximately 2.7% of Addenda Capital Inc.’s holdings, making the stock its 9th biggest holding. Addenda Capital Inc. owned 0.07% of Enbridge worth $56,239,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Perigon Wealth Management LLC boosted its holdings 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 period. Fifth Third Bancorp boosted its stake in Enbridge by 0.4% during the 1st quarter. Fifth Third Bancorp now owns 86,751 shares of the pipeline company’s stock valued at $3,139,000 after purchasing an additional 324 shares during the period. RFG Advisory LLC grew its position in Enbridge by 2.3% in the 2nd quarter. RFG Advisory LLC now owns 14,183 shares of the pipeline company’s stock worth $505,000 after purchasing an additional 325 shares during the last quarter. Capital Investment Counsel Inc increased 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 valued at $237,000 after purchasing an additional 326 shares during the period. Finally, Checchi Capital Advisers LLC raised its holdings in shares of Enbridge by 2.8% during the first quarter. Checchi Capital Advisers LLC now owns 12,506 shares of the pipeline company’s stock valued at $452,000 after buying an additional 337 shares during the last quarter. Institutional investors own 54.60% of the company’s stock.

Enbridge Stock Performance

ENB stock traded up $0.16 on Wednesday, reaching $39.54. The company’s stock had a trading volume of 7,694,473 shares, compared to its average volume of 5,475,574. Enbridge Inc. has a 52 week low of $31.03 and a 52 week high of $39.72. The company has a market capitalization of $84.36 billion, a P/E ratio of 20.07, a price-to-earnings-growth ratio of 3.55 and a beta of 0.92. The firm has a fifty day moving average of $36.26 and a two-hundred day moving average of $35.78. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.68 and a quick ratio of 0.59.

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

Enbridge Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Sunday, September 1st. Shareholders of record on Thursday, August 15th will be paid a dividend of $0.669 per share. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $2.68 annualized dividend and a yield of 6.77%. Enbridge’s payout ratio is 134.01%.

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.