Barings LLC Acquires Shares of 304,431 Enbridge Inc. (NYSE:ENB)

Barings LLC bought a new position in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) during the second quarter, according to its most recent filing with the SEC. The fund bought 304,431 shares of the pipeline company’s stock, valued at approximately $10,832,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ENB. Cibc World Market Inc. boosted its stake in Enbridge by 12.8% in the second quarter. Cibc World Market Inc. now owns 32,531,675 shares of the pipeline company’s stock valued at $1,157,802,000 after acquiring an additional 3,693,495 shares during the last quarter. Hazlett Burt & Watson Inc. grew its holdings in Enbridge by 18.6% during the second quarter. Hazlett Burt & Watson Inc. now owns 3,290 shares of the pipeline company’s stock valued at $117,000 after purchasing an additional 515 shares during the period. Mitchell Sinkler & Starr PA grew its holdings in Enbridge by 71.2% during the second quarter. Mitchell Sinkler & Starr PA now owns 12,162 shares of the pipeline company’s stock valued at $441,000 after purchasing an additional 5,057 shares during the period. LPL Financial LLC increased its position in Enbridge by 4.1% in the second quarter. LPL Financial LLC now owns 2,749,832 shares of the pipeline company’s stock worth $97,867,000 after buying an additional 108,639 shares during the last quarter. Finally, HHM Wealth Advisors LLC raised its stake in shares of Enbridge by 891.5% in the second quarter. HHM Wealth Advisors LLC now owns 2,558 shares of the pipeline company’s stock valued at $91,000 after buying an additional 2,300 shares during the period. 54.60% of the stock is owned by hedge funds and other institutional investors.

Enbridge Stock Down 0.0 %

ENB stock opened at $40.25 on Thursday. The stock has a fifty day moving average of $38.10 and a 200-day moving average of $36.50. Enbridge Inc. has a fifty-two week low of $31.03 and a fifty-two week high of $40.83. The company has a market capitalization of $85.88 billion, a price-to-earnings ratio of 20.43, a PEG ratio of 3.92 and a beta of 0.94. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.68 and a current ratio of 0.77.

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, topping the consensus estimate of $0.45 by $0.13. The firm had revenue of $8.29 billion during the quarter, compared to the consensus estimate of $4.28 billion. Enbridge had a net margin of 13.31% and a return on equity of 10.07%. During the same quarter last year, the company earned $0.51 earnings per share. As a group, equities research analysts predict that Enbridge Inc. will post 2.06 earnings per share for the current year.

Enbridge Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Thursday, August 15th were paid a $0.669 dividend. The ex-dividend date was Thursday, August 15th. This represents a $2.68 annualized dividend and a yield of 6.65%. Enbridge’s dividend payout ratio is currently 134.01%.

Enbridge 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.