US Asset Management LLC Reduces Holdings in Enbridge Inc. (NYSE:ENB)

US Asset Management LLC lowered its position in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 4.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,628 shares of the pipeline company’s stock after selling 291 shares during the quarter. US Asset Management LLC’s holdings in Enbridge were worth $236,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. TruNorth Capital Management LLC bought a new stake in Enbridge in the second quarter worth about $28,000. Ameritas Investment Partners Inc. bought a new stake in shares of Enbridge during the 1st quarter worth approximately $29,000. Richardson Financial Services Inc. purchased a new position in Enbridge during the 1st quarter valued at $31,000. PFS Partners LLC grew its position in Enbridge by 95.8% in the 1st quarter. PFS Partners LLC now owns 922 shares of the pipeline company’s stock valued at $33,000 after acquiring an additional 451 shares during the last quarter. Finally, Northwest Bank & Trust Co purchased a new stake in Enbridge in the fourth quarter worth $34,000. 54.60% of the stock is owned by hedge funds and other institutional investors.

Enbridge Stock Up 0.6 %

Shares of ENB opened at $40.73 on Friday. The firm has a market capitalization of $88.69 billion, a P/E ratio of 20.68, a P/E/G ratio of 3.91 and a beta of 0.94. Enbridge Inc. has a 12-month low of $31.03 and a 12-month high of $40.83. The firm has a fifty day moving average price of $38.29 and a 200-day moving average price of $36.57. The company has a current ratio of 0.77, a quick ratio of 0.68 and a debt-to-equity ratio of 1.34.

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

Enbridge Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Thursday, August 15th were given a dividend of $0.669 per share. This represents a $2.68 dividend on an annualized basis and a yield of 6.57%. The ex-dividend date was Thursday, August 15th. Enbridge’s dividend payout ratio (DPR) is presently 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.