American Century Companies Inc. Sells 17,126 Shares of Enbridge Inc. (NYSE:ENB)

American Century Companies Inc. trimmed its position in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 7.9% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 200,928 shares of the pipeline company’s stock after selling 17,126 shares during the period. American Century Companies Inc.’s holdings in Enbridge were worth $7,148,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Hazlett Burt & Watson Inc. raised its holdings in Enbridge by 18.6% in the second quarter. Hazlett Burt & Watson Inc. now owns 3,290 shares of the pipeline company’s stock worth $117,000 after purchasing an additional 515 shares in the last quarter. Mitchell Sinkler & Starr PA grew its holdings in Enbridge by 71.2% in the second quarter. Mitchell Sinkler & Starr PA now owns 12,162 shares of the pipeline company’s stock worth $441,000 after purchasing an additional 5,057 shares during the period. LPL Financial LLC increased its stake in shares of Enbridge by 4.1% during the second quarter. LPL Financial LLC now owns 2,749,832 shares of the pipeline company’s stock valued at $97,867,000 after purchasing an additional 108,639 shares in the last quarter. HHM Wealth Advisors LLC lifted its holdings in shares of Enbridge by 891.5% during the second quarter. HHM Wealth Advisors LLC now owns 2,558 shares of the pipeline company’s stock valued at $91,000 after purchasing an additional 2,300 shares during the last quarter. Finally, STAR Financial Bank boosted its position in shares of Enbridge by 13.2% in the 2nd quarter. STAR Financial Bank now owns 6,431 shares of the pipeline company’s stock worth $229,000 after purchasing an additional 750 shares in the last quarter. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Enbridge Stock Performance

Enbridge stock opened at $40.89 on Tuesday. Enbridge Inc. has a twelve month low of $31.03 and a twelve month high of $41.22. The company has a quick ratio of 0.68, a current ratio of 0.77 and a debt-to-equity ratio of 1.34. The company has a market capitalization of $87.24 billion, a P/E ratio of 20.75, a PEG ratio of 3.91 and a beta of 0.94. The stock’s 50 day moving average is $38.89 and its 200 day moving average is $36.85.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly 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. The firm had revenue of $8.29 billion during the quarter, compared to the consensus estimate of $4.28 billion. Enbridge had a return on equity of 10.07% and a net margin of 13.31%. During the same period last year, the company earned $0.51 earnings per share. On average, equities research analysts predict that Enbridge Inc. will post 2.06 earnings per share for the current fiscal year.

Enbridge Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Thursday, August 15th were paid a $0.669 dividend. The ex-dividend date was Thursday, August 15th. This represents a $2.68 annualized dividend and a dividend yield of 6.55%. Enbridge’s dividend payout ratio is presently 134.01%.

Enbridge 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.