Enbridge Inc. (NYSE:ENB) Shares Purchased by Fiduciary Group LLC

Fiduciary Group LLC raised its position in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 7.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,494 shares of the pipeline company’s stock after purchasing an additional 588 shares during the quarter. Fiduciary Group LLC’s holdings in Enbridge were worth $302,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. TruNorth Capital Management LLC acquired a new position in shares of Enbridge in the 2nd quarter valued at $28,000. Ameritas Investment Partners Inc. acquired a new position in Enbridge in the first quarter valued at about $29,000. Richardson Financial Services Inc. purchased a new position in Enbridge during the first quarter worth about $31,000. PFS Partners LLC increased its position in shares of Enbridge by 95.8% during the first quarter. PFS Partners LLC now owns 922 shares of the pipeline company’s stock valued at $33,000 after acquiring an additional 451 shares during the last quarter. Finally, Northwest Bank & Trust Co purchased a new stake in shares of Enbridge in the 4th quarter valued at approximately $34,000. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Enbridge Stock Up 0.6 %

Shares of NYSE ENB opened at $40.73 on Friday. The company has a quick ratio of 0.68, a current ratio of 0.77 and a debt-to-equity ratio of 1.34. The business’s 50 day moving average is $38.29 and its two-hundred day moving average is $36.59. Enbridge Inc. has a 52-week low of $31.03 and a 52-week high of $40.83. The firm has a market cap of $88.69 billion, a price-to-earnings ratio of 20.68, a PEG ratio of 3.91 and a beta of 0.94.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings data on Friday, August 2nd. The pipeline company reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.13. Enbridge had a return on equity of 10.07% and a net margin of 13.31%. The firm had revenue of $8.29 billion for the quarter, compared to the consensus estimate of $4.28 billion. During the same quarter in the previous year, the business earned $0.51 EPS. Research analysts predict that Enbridge Inc. will post 2.06 EPS for the current year.

Enbridge Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Thursday, August 15th were paid a $0.669 dividend. This represents a $2.68 annualized dividend and a dividend yield of 6.57%. The ex-dividend date was Thursday, August 15th. Enbridge’s payout ratio is 134.01%.

About Enbridge

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.