Enbridge Inc. (NYSE:ENB) Shares Bought by Sumitomo Mitsui Trust Holdings Inc.

Sumitomo Mitsui Trust Holdings Inc. raised its holdings in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 0.2% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 4,981,625 shares of the pipeline company’s stock after acquiring an additional 11,973 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Enbridge were worth $180,541,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Qube Research & Technologies Ltd raised its holdings in Enbridge by 4.5% during the third quarter. Qube Research & Technologies Ltd now owns 94,966 shares of the pipeline company’s stock worth $3,152,000 after purchasing an additional 4,120 shares in the last quarter. Schonfeld Strategic Advisors LLC raised its stake in Enbridge by 31.2% during the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 103,401 shares of the pipeline company’s stock worth $3,432,000 after acquiring an additional 24,600 shares in the last quarter. Axxcess Wealth Management LLC lifted its position in Enbridge by 41.0% in the third quarter. Axxcess Wealth Management LLC now owns 38,899 shares of the pipeline company’s stock valued at $1,300,000 after acquiring an additional 11,318 shares during the last quarter. Legal & General Group Plc grew its holdings in shares of Enbridge by 5.8% during the third quarter. Legal & General Group Plc now owns 18,437,902 shares of the pipeline company’s stock worth $614,236,000 after purchasing an additional 1,015,792 shares during the last quarter. Finally, Kenfarb & CO. increased its position in shares of Enbridge by 108.1% during the third quarter. Kenfarb & CO. now owns 7,075 shares of the pipeline company’s stock worth $235,000 after purchasing an additional 3,675 shares in the last quarter. 54.60% of the stock is owned by institutional investors and hedge funds.

Enbridge Stock Performance

Shares of NYSE ENB traded up $0.40 during trading hours on Wednesday, reaching $36.21. The stock had a trading volume of 470,403 shares, compared to its average volume of 5,646,458. The firm has a market cap of $77.27 billion, a price-to-earnings ratio of 18.38, a PEG ratio of 3.34 and a beta of 0.92. Enbridge Inc. has a fifty-two week low of $31.03 and a fifty-two week high of $38.37. The firm has a 50-day moving average of $36.01 and a 200-day moving average of $35.63. The company has a current ratio of 0.68, a quick ratio of 0.59 and a debt-to-equity ratio of 1.35.

Enbridge (NYSE:ENB) (TSE:ENB) last announced 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. The business had revenue of $8.19 billion for the quarter, compared to analyst estimates of $9 billion. Enbridge had a net margin of 13.59% and a return on equity of 10.53%. Equities research analysts predict that Enbridge Inc. will post 2.13 earnings per share for the current year.

Enbridge Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Saturday, June 1st. Investors of record on Wednesday, May 15th were issued a dividend of $0.677 per share. The ex-dividend date of this dividend was Tuesday, May 14th. This represents a $2.71 dividend on an annualized basis and a dividend yield of 7.48%. This is a positive change from Enbridge’s previous quarterly dividend of $0.66. Enbridge’s dividend payout ratio (DPR) is currently 136.04%.

About Enbridge

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.