MONECO Advisors LLC Makes New Investment in Enbridge Inc. (NYSE:ENB)

MONECO Advisors LLC bought a new stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) during the 2nd quarter, HoldingsChannel reports. The fund bought 12,209 shares of the pipeline company’s stock, valued at approximately $435,000.

Several other institutional investors and hedge funds also recently modified their holdings of ENB. Sei Investments Co. boosted its stake in Enbridge by 6.1% during the 1st quarter. Sei Investments Co. now owns 274,235 shares of the pipeline company’s stock valued at $9,922,000 after purchasing an additional 15,650 shares in the last quarter. State Board of Administration of Florida Retirement System acquired a new stake in Enbridge during the 1st quarter worth about $1,133,000. Savant Capital LLC increased its stake in Enbridge by 23.1% in the 4th quarter. Savant Capital LLC now owns 21,547 shares of the pipeline company’s stock valued at $776,000 after buying an additional 4,049 shares during the period. CAP Partners LLC acquired a new position in shares of Enbridge in the fourth quarter worth $391,000. Finally, Vanguard Group Inc. increased its stake in shares of Enbridge by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 84,280,486 shares of the pipeline company’s stock worth $3,049,268,000 after purchasing an additional 1,227,031 shares during the last quarter. Institutional investors own 54.60% of the company’s stock.

Enbridge Stock Up 1.1 %

Shares of ENB stock traded up $0.43 on Monday, hitting $39.13. The company’s stock had a trading volume of 1,016,315 shares, compared to its average volume of 5,425,359. Enbridge Inc. has a fifty-two week low of $31.03 and a fifty-two week high of $39.72. The firm’s fifty day moving average price is $36.43 and its 200-day moving average price is $35.85. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.68 and a quick ratio of 0.59. The stock has a market capitalization of $83.50 billion, a price-to-earnings ratio of 19.79, a P/E/G ratio of 3.55 and a beta of 0.92.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its earnings results on Friday, August 2nd. The pipeline company reported $0.58 earnings per share 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 business had revenue of $8.29 billion for the quarter, compared to analyst estimates of $4.28 billion. During the same period in the previous year, the business earned $0.51 EPS. Research analysts anticipate that Enbridge Inc. will post 2.12 EPS for the current year.

Enbridge Cuts Dividend

The firm 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. The ex-dividend date is Thursday, August 15th. This represents a $2.68 annualized dividend and a yield of 6.84%. 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.