Telos Capital Management Inc. Boosts Stake in Enbridge Inc. (NYSE:ENB)

Telos Capital Management Inc. grew its stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 0.7% in the second quarter, HoldingsChannel reports. The institutional investor owned 148,872 shares of the pipeline company’s stock after buying an additional 1,038 shares during the period. Telos Capital Management Inc.’s holdings in Enbridge were worth $5,298,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. TruNorth Capital Management LLC purchased a new position in shares of Enbridge in the second quarter worth $28,000. Ameritas Investment Partners Inc. purchased a new position in shares of Enbridge in the first quarter worth $29,000. Richardson Financial Services Inc. purchased a new position in shares of Enbridge in the first quarter worth $31,000. PFS Partners LLC raised its holdings in shares of Enbridge by 95.8% in the first quarter. PFS Partners LLC now owns 922 shares of the pipeline company’s stock worth $33,000 after buying an additional 451 shares during the last quarter. Finally, Northwest Bank & Trust Co purchased a new position in shares of Enbridge during the fourth quarter worth $34,000. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Enbridge Stock Performance

Shares of Enbridge stock traded up $0.62 during trading on Friday, hitting $40.18. 4,767,545 shares of the company’s stock were exchanged, compared to its average volume of 5,004,855. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.68 and a current ratio of 0.77. The business has a 50-day simple moving average of $37.30 and a 200-day simple moving average of $36.17. Enbridge Inc. has a 52-week low of $31.03 and a 52-week high of $40.32. The stock has a market capitalization of $87.49 billion, a price-to-earnings ratio of 20.40, a PEG ratio of 3.90 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 (EPS) 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 during the quarter, compared to analysts’ expectations of $4.28 billion. During the same quarter last year, the company posted $0.51 earnings per share. On average, research analysts forecast that Enbridge Inc. will post 2.06 EPS for the current year.

Enbridge Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Sunday, September 1st. Investors of record on Thursday, August 15th will be issued a dividend of $0.669 per share. The ex-dividend date is Thursday, August 15th. This represents a $2.68 annualized dividend and a dividend yield of 6.66%. Enbridge’s dividend payout ratio (DPR) is presently 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.