Founders Financial Securities LLC Raises Stock Position in Enbridge Inc. (NYSE:ENB)

Founders Financial Securities LLC lifted its stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 7.2% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 54,864 shares of the pipeline company’s stock after acquiring an additional 3,686 shares during the quarter. Founders Financial Securities LLC’s holdings in Enbridge were worth $1,953,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Sei Investments Co. grew its holdings in Enbridge by 6.1% in 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 during the last quarter. State Board of Administration of Florida Retirement System acquired a new stake in shares of Enbridge during the first quarter worth $1,133,000. CAP Partners LLC acquired a new stake in shares of Enbridge during the fourth quarter worth $391,000. Vanguard Group Inc. lifted its stake 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 buying an additional 1,227,031 shares during the period. Finally, Parallel Advisors LLC lifted its position in Enbridge by 11.0% during the fourth quarter. Parallel Advisors LLC now owns 24,183 shares of the pipeline company’s stock valued at $871,000 after purchasing an additional 2,402 shares during the period. 54.60% of the stock is owned by hedge funds and other institutional investors.

Enbridge Trading Up 0.1 %

NYSE ENB opened at $40.21 on Wednesday. The company has a market capitalization of $85.79 billion, a PE ratio of 20.41, a P/E/G ratio of 3.90 and a beta of 0.92. The company has a fifty day moving average of $37.51 and a 200 day moving average of $36.27. Enbridge Inc. has a 1 year low of $31.03 and a 1 year high of $40.33. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.77 and a quick ratio of 0.68.

Enbridge (NYSE:ENB) (TSE:ENB) last posted 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. The company had revenue of $8.29 billion during the quarter, compared to the consensus estimate of $4.28 billion. Enbridge had a net margin of 13.31% and a return on equity of 10.07%. During the same period in the previous year, the firm posted $0.51 earnings per share. Research analysts forecast that Enbridge Inc. will post 2.06 earnings per share for the current year.

Enbridge Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Thursday, August 15th were given a $0.669 dividend. The ex-dividend date was Thursday, August 15th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 6.66%. Enbridge’s dividend payout ratio (DPR) is currently 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.