1ST Source Bank Has $709,000 Stock Holdings in Enbridge Inc. (NYSE:ENB)

1ST Source Bank reduced its stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 1.9% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 19,911 shares of the pipeline company’s stock after selling 387 shares during the quarter. 1ST Source Bank’s holdings in Enbridge were worth $709,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Dimensional Fund Advisors LP grew its stake in Enbridge by 3.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,348,064 shares of the pipeline company’s stock worth $84,578,000 after buying an additional 72,129 shares in the last quarter. Meridian Wealth Management LLC boosted its position in shares of Enbridge by 3.7% during the 4th quarter. Meridian Wealth Management LLC now owns 18,190 shares of the pipeline company’s stock worth $656,000 after acquiring an additional 644 shares in the last quarter. Financial Advocates Investment Management increased its stake in Enbridge by 22.5% in the fourth quarter. Financial Advocates Investment Management now owns 28,804 shares of the pipeline company’s stock valued at $1,039,000 after acquiring an additional 5,283 shares during the last quarter. Level Four Advisory Services LLC increased its stake in Enbridge by 26.2% in the fourth quarter. Level Four Advisory Services LLC now owns 29,670 shares of the pipeline company’s stock valued at $1,069,000 after acquiring an additional 6,160 shares during the last quarter. Finally, Missouri Trust & Investment Co acquired a new position in Enbridge during the fourth quarter valued at approximately $43,000. Institutional investors own 54.60% of the company’s stock.

Enbridge Trading Up 0.6 %

Shares of ENB stock opened at $40.73 on Friday. 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 fifty-two week low of $31.03 and a fifty-two week high of $40.83. The company has a market cap of $88.69 billion, a PE ratio of 20.68, a P/E/G ratio of 3.91 and a beta of 0.94. The stock’s fifty day moving average price is $38.29 and its two-hundred day moving average price is $36.59.

Enbridge (NYSE:ENB) (TSE:ENB) last released its earnings results on Friday, August 2nd. The pipeline company reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $4.28 billion. During the same quarter in the previous year, the business posted $0.51 earnings per share. Equities analysts predict that Enbridge Inc. will post 2.06 EPS for the current fiscal year.

Enbridge Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Thursday, August 15th were paid a $0.669 dividend. This represents a $2.68 annualized dividend and a yield of 6.57%. The ex-dividend date of this dividend 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.