Enbridge Inc. (NYSE:ENB) Position Lifted by Candriam S.C.A.

Candriam S.C.A. grew its stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 45.0% in the 2nd quarter, Holdings Channel.com reports. The fund owned 11,500 shares of the pipeline company’s stock after purchasing an additional 3,570 shares during the quarter. Candriam S.C.A.’s holdings in Enbridge were worth $409,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. TruNorth Capital Management LLC bought a new stake in Enbridge in the second quarter valued at about $28,000. Ameritas Investment Partners Inc. acquired a new stake in shares of Enbridge during the 1st quarter valued at approximately $29,000. Richardson Financial Services Inc. bought a new position in Enbridge during the first quarter worth $31,000. PFS Partners LLC lifted its stake in 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 purchasing an additional 451 shares during the last quarter. Finally, Northwest Bank & Trust Co acquired a new position in Enbridge in the fourth quarter worth $34,000. Institutional investors own 54.60% of the company’s stock.

Enbridge Stock Down 0.0 %

Shares of NYSE:ENB opened at $40.25 on Thursday. The company’s fifty day moving average is $38.10 and its two-hundred day moving average is $36.50. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.68 and a current ratio of 0.77. Enbridge Inc. has a 1-year low of $31.03 and a 1-year high of $40.83. The stock has a market capitalization of $85.88 billion, a price-to-earnings ratio of 20.43, a price-to-earnings-growth ratio of 3.92 and a beta of 0.94.

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

Enbridge Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Thursday, August 15th were issued a $0.669 dividend. This represents a $2.68 annualized dividend and a dividend yield of 6.65%. The ex-dividend date was Thursday, August 15th. Enbridge’s dividend payout ratio (DPR) 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.