IFG Advisory LLC Increases Stake in Enbridge Inc. (NYSE:ENB)

IFG Advisory LLC raised its holdings in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 8.8% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 52,313 shares of the pipeline company’s stock after buying an additional 4,243 shares during the period. IFG Advisory LLC’s holdings in Enbridge were worth $1,862,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of ENB. TruNorth Capital Management LLC acquired a new position in Enbridge during the 2nd quarter worth $28,000. Ameritas Investment Partners Inc. purchased a new stake in shares of Enbridge during the first quarter worth approximately $29,000. Richardson Financial Services Inc. acquired a new stake in Enbridge in the first quarter valued at approximately $31,000. PFS Partners LLC raised its holdings in Enbridge by 95.8% in the first quarter. PFS Partners LLC now owns 922 shares of the pipeline company’s stock valued at $33,000 after acquiring an additional 451 shares in the last quarter. Finally, Northwest Bank & Trust Co acquired a new position in Enbridge during the 4th quarter worth approximately $34,000. Institutional investors and hedge funds own 54.60% of the company’s stock.

Enbridge Stock Up 1.6 %

Shares of NYSE:ENB traded up $0.62 during trading hours on Friday, reaching $40.18. The stock had a trading volume of 4,767,545 shares, compared to its average volume of 5,393,787. Enbridge Inc. has a 1 year low of $31.03 and a 1 year high of $40.32. The firm’s 50 day moving average is $37.30 and its 200-day moving average is $36.15. The stock has a market capitalization 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 debt-to-equity ratio of 1.35, a quick ratio of 0.59 and a current ratio of 0.68.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its earnings results on Friday, August 2nd. The pipeline company reported $0.58 EPS for the quarter, beating the consensus estimate of $0.45 by $0.13. The firm had revenue of $8.29 billion for the quarter, compared to analyst estimates 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 posted $0.51 earnings per share. 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 announced a quarterly dividend, which will be paid on Sunday, September 1st. Investors of record on Thursday, August 15th will be paid a dividend of $0.669 per share. This represents a $2.68 annualized dividend and a yield of 6.66%. The ex-dividend date is Thursday, August 15th. Enbridge’s payout ratio is 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.