Enbridge Inc. (NYSE:ENB) Shares Sold by Beverly Hills Private Wealth LLC

Beverly Hills Private Wealth LLC reduced its position in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 3.8% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 21,707 shares of the pipeline company’s stock after selling 865 shares during the quarter. Beverly Hills Private Wealth LLC’s holdings in Enbridge were worth $773,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ENB. TruNorth Capital Management LLC acquired a new stake in shares of Enbridge in the second quarter valued at about $28,000. Ameritas Investment Partners Inc. purchased a new stake in Enbridge during the 1st quarter valued at about $29,000. Richardson Financial Services Inc. acquired a new stake in Enbridge in the 1st quarter valued at about $31,000. PFS Partners LLC lifted its stake in Enbridge by 95.8% in the 1st quarter. PFS Partners LLC now owns 922 shares of the pipeline company’s stock worth $33,000 after purchasing an additional 451 shares in the last quarter. Finally, Northwest Bank & Trust Co purchased a new position in Enbridge in the 4th quarter worth approximately $34,000. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Enbridge Price Performance

ENB stock opened at $40.48 on Friday. Enbridge Inc. has a 1 year low of $31.03 and a 1 year high of $40.83. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.77 and a quick ratio of 0.68. The firm has a market capitalization of $86.38 billion, a PE ratio of 20.55, a price-to-earnings-growth ratio of 3.92 and a beta of 0.94. The business has a 50 day simple moving average of $38.19 and a 200-day simple moving average of $36.53.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its earnings results on Friday, August 2nd. The pipeline company reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.13. Enbridge had a return on equity of 10.07% and a net margin of 13.31%. The company had revenue of $8.29 billion during the quarter, compared to analysts’ expectations of $4.28 billion. During the same period in the prior year, the business earned $0.51 EPS. Equities research analysts anticipate that Enbridge Inc. will post 2.06 earnings per share for the current fiscal year.

Enbridge Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Thursday, August 15th were given a dividend of $0.669 per share. This represents a $2.68 annualized dividend and a yield of 6.61%. The ex-dividend date of this dividend was Thursday, August 15th. Enbridge’s 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.