Successful Portfolios LLC Acquires 1,122 Shares of Enbridge Inc. (NYSE:ENB)

Successful Portfolios LLC raised its holdings in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 17.9% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 7,373 shares of the pipeline company’s stock after purchasing an additional 1,122 shares during the quarter. Successful Portfolios LLC’s holdings in Enbridge were worth $267,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of ENB. BOK Financial Private Wealth Inc. bought a new position in Enbridge in the 4th quarter valued at $25,000. Baystate Wealth Management LLC raised its position in Enbridge by 836.4% in the 4th quarter. Baystate Wealth Management LLC now owns 721 shares of the pipeline company’s stock valued at $26,000 after purchasing an additional 644 shares during the last quarter. Tennessee Valley Asset Management Partners bought a new position in Enbridge in the 4th quarter valued at $28,000. Financial Gravity Asset Management Inc. raised its position in shares of Enbridge by 2,294.6% during the third quarter. Financial Gravity Asset Management Inc. now owns 886 shares of the pipeline company’s stock worth $29,000 after acquiring an additional 849 shares during the last quarter. Finally, PFS Partners LLC raised 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 worth $33,000 after acquiring an additional 451 shares during the last quarter. Institutional investors own 54.60% of the company’s stock.

Enbridge Trading Up 0.9 %

ENB stock opened at $35.59 on Monday. The company has a market cap of $75.95 billion, a P/E ratio of 18.07, a PEG ratio of 3.34 and a beta of 0.92. Enbridge Inc. has a twelve month low of $31.03 and a twelve month high of $38.37. The company has a quick ratio of 0.59, a current ratio of 0.68 and a debt-to-equity ratio of 1.35. The business has a fifty day moving average of $36.01 and a 200-day moving average of $35.63.

Enbridge (NYSE:ENB) (TSE:ENB) last released its earnings results on Friday, May 10th. The pipeline company reported $0.68 earnings per share for the quarter, topping analysts’ consensus estimates of $0.59 by $0.09. The company had revenue of $8.19 billion during the quarter, compared to the consensus estimate of $9 billion. Enbridge had a return on equity of 10.53% and a net margin of 13.59%. As a group, equities research analysts expect that Enbridge Inc. will post 2.13 EPS for the current year.

Enbridge Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Saturday, June 1st. Stockholders of record on Wednesday, May 15th were given a dividend of $0.677 per share. The ex-dividend date of this dividend was Tuesday, May 14th. This represents a $2.71 dividend on an annualized basis and a dividend yield of 7.61%. This is an increase from Enbridge’s previous quarterly dividend of $0.66. Enbridge’s payout ratio is presently 136.04%.

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.