Agate Pass Investment Management LLC Boosts Stake in Enbridge Inc. (NYSE:ENB)

Agate Pass Investment Management LLC lifted its holdings in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 1.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 43,219 shares of the pipeline company’s stock after purchasing an additional 652 shares during the quarter. Agate Pass Investment Management LLC’s holdings in Enbridge were worth $1,564,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ENB. BOK Financial Private Wealth Inc. acquired a new stake in shares of Enbridge during the fourth quarter valued at about $25,000. Baystate Wealth Management LLC boosted its position in shares of Enbridge by 836.4% during the fourth quarter. Baystate Wealth Management LLC now owns 721 shares of the pipeline company’s stock worth $26,000 after buying an additional 644 shares during the period. Tennessee Valley Asset Management Partners purchased a new stake in shares of Enbridge in the 4th quarter valued at $28,000. Financial Gravity Asset Management Inc. raised its holdings in shares of Enbridge by 2,294.6% in the 3rd quarter. Financial Gravity Asset Management Inc. now owns 886 shares of the pipeline company’s stock valued at $29,000 after buying an additional 849 shares during the period. Finally, Planned Solutions Inc. purchased a new position in Enbridge during the 4th quarter valued at about $34,000. 54.60% of the stock is owned by institutional investors and hedge funds.

Enbridge Stock Down 0.1 %

Shares of ENB traded down $0.02 during mid-day trading on Thursday, hitting $35.32. 1,323,079 shares of the company’s stock were exchanged, compared to its average volume of 5,705,057. The stock’s 50-day moving average is $35.97 and its 200-day moving average is $35.62. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.59 and a current ratio of 0.68. Enbridge Inc. has a fifty-two week low of $31.03 and a fifty-two week high of $38.37. The company has a market cap of $75.09 billion, a price-to-earnings ratio of 17.93, a P/E/G ratio of 3.28 and a beta of 0.90.

Enbridge (NYSE:ENB) (TSE:ENB) last released its earnings results on Friday, May 10th. The pipeline company reported $0.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.59 by $0.09. Enbridge had a net margin of 13.59% and a return on equity of 10.53%. The company had revenue of $8.19 billion for the quarter, compared to analyst estimates of $9 billion. On average, sell-side analysts anticipate that Enbridge Inc. will post 2.13 earnings per share for the current fiscal year.

Enbridge Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Saturday, June 1st. Shareholders of record on Wednesday, May 15th were issued a dividend of $0.677 per share. This is an increase from Enbridge’s previous quarterly dividend of $0.66. The ex-dividend date was Tuesday, May 14th. This represents a $2.71 annualized dividend and a yield of 7.67%. Enbridge’s dividend payout ratio is 136.04%.

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.