Atria Wealth Solutions Inc. Sells 29,037 Shares of Enbridge Inc. (NYSE:ENB)

Atria Wealth Solutions Inc. decreased its position in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 19.8% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 117,736 shares of the pipeline company’s stock after selling 29,037 shares during the period. Atria Wealth Solutions Inc.’s holdings in Enbridge were worth $4,189,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in ENB. Sei Investments Co. grew its position in shares of Enbridge by 6.1% during the first quarter. Sei Investments Co. now owns 274,235 shares of the pipeline company’s stock worth $9,922,000 after purchasing an additional 15,650 shares in the last quarter. State Board of Administration of Florida Retirement System bought a new stake in shares of Enbridge during the first quarter valued at approximately $1,133,000. Savant Capital LLC lifted its holdings in shares of Enbridge by 23.1% in the fourth quarter. Savant Capital LLC now owns 21,547 shares of the pipeline company’s stock worth $776,000 after buying an additional 4,049 shares in the last quarter. CAP Partners LLC purchased a new position in shares of Enbridge in the fourth quarter worth $391,000. Finally, Vanguard Group Inc. boosted its position in shares of Enbridge by 1.5% during the first quarter. Vanguard Group Inc. now owns 84,280,486 shares of the pipeline company’s stock worth $3,049,268,000 after acquiring an additional 1,227,031 shares during the last quarter. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Enbridge Price Performance

NYSE ENB traded down $0.05 on Wednesday, reaching $39.00. The company had a trading volume of 2,677,630 shares, compared to its average volume of 5,453,488. The stock has a market capitalization of $83.22 billion, a PE ratio of 19.80, a price-to-earnings-growth ratio of 3.55 and a beta of 0.92. Enbridge Inc. has a 12 month low of $31.03 and a 12 month high of $39.72. The company has a quick ratio of 0.59, a current ratio of 0.68 and a debt-to-equity ratio of 1.35. The firm’s 50 day moving average price is $36.64 and its 200 day moving average price is $35.92.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its earnings results on Friday, August 2nd. The pipeline company reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.13. Enbridge had a return on equity of 10.53% and a net margin of 13.59%. The firm had revenue of $8.29 billion for the quarter, compared to analysts’ expectations of $4.28 billion. During the same period in the previous year, the firm posted $0.51 earnings per share. As a group, equities analysts predict that Enbridge Inc. will post 2.12 earnings per share for the current year.

Enbridge Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Sunday, September 1st. Stockholders of record on Thursday, August 15th will be given a dividend of $0.669 per share. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 6.86%. Enbridge’s dividend payout ratio is currently 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.