MADDEN SECURITIES Corp Buys 550 Shares of Enbridge Inc. (NYSE:ENB)

MADDEN SECURITIES Corp increased its stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 0.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 158,151 shares of the pipeline company’s stock after purchasing an additional 550 shares during the quarter. Enbridge comprises about 2.5% of MADDEN SECURITIES Corp’s portfolio, making the stock its 10th biggest position. MADDEN SECURITIES Corp’s holdings in Enbridge were worth $5,629,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also modified their holdings of the company. Canoe Financial LP lifted its position in Enbridge by 80,631.1% during the 4th quarter. Canoe Financial LP now owns 33,460,611 shares of the pipeline company’s stock valued at $1,205,251,000 after purchasing an additional 33,419,164 shares during the period. Norges Bank acquired a new position in shares of Enbridge in the 4th quarter valued at $714,662,000. TD Asset Management Inc boosted its position in shares of Enbridge by 24.9% in the 4th quarter. TD Asset Management Inc now owns 37,749,760 shares of the pipeline company’s stock worth $1,365,583,000 after purchasing an additional 7,536,678 shares during the last quarter. M&G Plc acquired a new position in shares of Enbridge during the 1st quarter worth about $152,843,000. Finally, Canada Pension Plan Investment Board increased its stake in Enbridge by 66.9% in the first quarter. Canada Pension Plan Investment Board now owns 9,044,864 shares of the pipeline company’s stock valued at $327,172,000 after purchasing an additional 3,624,089 shares in the last quarter. Institutional investors and hedge funds own 54.60% of the company’s stock.

Enbridge Trading Up 0.7 %

ENB stock traded up $0.28 during midday trading on Thursday, hitting $38.73. 3,911,906 shares of the company’s stock were exchanged, compared to its average volume of 5,490,472. Enbridge Inc. has a one year low of $31.03 and a one year high of $38.83. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.59 and a current ratio of 0.68. The company has a market cap of $82.65 billion, a PE ratio of 19.66, a price-to-earnings-growth ratio of 3.55 and a beta of 0.92. The stock’s fifty day moving average price is $36.10 and its 200-day moving average price is $35.71.

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

Enbridge Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Sunday, September 1st. Stockholders of record on Thursday, August 15th will be paid 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 6.91%. Enbridge’s dividend payout ratio is currently 134.01%.

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.