Sabal Trust CO Trims Position in Enbridge Inc. (NYSE:ENB)

Sabal Trust CO cut its holdings in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 4.1% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 13,594 shares of the pipeline company’s stock after selling 588 shares during the quarter. Sabal Trust CO’s holdings in Enbridge were worth $484,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently bought and sold shares of ENB. Canoe Financial LP raised 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 worth $1,205,251,000 after buying an additional 33,419,164 shares during the last quarter. Norges Bank purchased a new position in shares of Enbridge during the 4th quarter valued at approximately $714,662,000. TD Asset Management Inc increased its holdings in shares of Enbridge by 24.9% during the 4th quarter. TD Asset Management Inc now owns 37,749,760 shares of the pipeline company’s stock valued at $1,365,583,000 after purchasing an additional 7,536,678 shares in the last quarter. M&G Plc purchased a new position in shares of Enbridge during the 1st quarter valued at approximately $152,843,000. Finally, Canada Pension Plan Investment Board increased its holdings in shares of Enbridge by 66.9% during the 1st 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. 54.60% of the stock is owned by hedge funds and other institutional investors.

Enbridge Stock Performance

Shares of NYSE:ENB traded up $0.62 during trading on Friday, hitting $40.18. 4,767,545 shares of the stock traded hands, compared to its average volume of 5,393,787. The company has a quick ratio of 0.59, a current ratio of 0.68 and a debt-to-equity ratio of 1.35. The company has a market cap of $85.74 billion, a price-to-earnings ratio of 20.40, a P/E/G ratio of 3.55 and a beta of 0.92. The company has a fifty day moving average price of $37.30 and a two-hundred day moving average price of $36.15. Enbridge Inc. has a 52-week low of $31.03 and a 52-week high of $40.32.

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

Enbridge Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Sunday, September 1st. Investors of record on Thursday, August 15th will be paid a $0.669 dividend. The ex-dividend date is Thursday, August 15th. This represents a $2.68 dividend on an annualized basis and a yield of 6.66%. Enbridge’s dividend payout ratio is currently 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.