Raymond James & Associates Reduces Stock Position in Enbridge Inc. (NYSE:ENB)

Raymond James & Associates lessened its holdings in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 0.6% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,593,191 shares of the pipeline company’s stock after selling 20,951 shares during the quarter. Raymond James & Associates’ holdings in Enbridge were worth $127,882,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of ENB. Tennessee Valley Asset Management Partners purchased a new position in Enbridge in the fourth quarter valued at $28,000. TruNorth Capital Management LLC purchased a new position in Enbridge in the second quarter valued at $28,000. Ameritas Investment Partners Inc. purchased a new position in Enbridge in the first quarter valued at $29,000. Richardson Financial Services Inc. purchased a new position in Enbridge in the first quarter valued at $31,000. Finally, PFS Partners LLC increased its holdings in Enbridge by 95.8% in the first quarter. PFS Partners LLC now owns 922 shares of the pipeline company’s stock valued at $33,000 after buying an additional 451 shares during the last quarter. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Enbridge Stock Performance

NYSE ENB opened at $38.35 on Monday. 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 Inc. has a 1 year low of $31.03 and a 1 year high of $39.72. The company has a market capitalization of $81.83 billion, a PE ratio of 19.64, a P/E/G ratio of 3.55 and a beta of 0.92. The company has a fifty day moving average of $36.43 and a two-hundred day moving average of $35.85.

Enbridge (NYSE:ENB) (TSE:ENB) last released 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 net margin of 13.59% and a return on equity of 10.53%. The company had revenue of $8.29 billion during the quarter, compared to the consensus estimate of $4.28 billion. During the same quarter in the prior 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 firm also recently announced a quarterly dividend, which will be paid on Sunday, September 1st. Stockholders 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 dividend yield of 6.98%. Enbridge’s dividend payout ratio (DPR) 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.