Enbridge Inc. (NYSE:ENB) Shares Sold by Gateway Investment Advisers LLC

Gateway Investment Advisers LLC lessened its stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 83.5% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 10,254 shares of the pipeline company’s stock after selling 51,791 shares during the quarter. Gateway Investment Advisers LLC’s holdings in Enbridge were worth $371,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of ENB. Canoe Financial LP lifted its stake in shares of 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 purchasing an additional 33,419,164 shares during the period. Wellington Management Group LLP lifted its stake in shares of Enbridge by 630.3% during the 3rd quarter. Wellington Management Group LLP now owns 32,531,108 shares of the pipeline company’s stock worth $1,083,938,000 after purchasing an additional 28,076,386 shares during the period. Norges Bank purchased a new position in shares of Enbridge during the 4th quarter worth $714,662,000. TD Asset Management Inc lifted its stake 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 worth $1,365,583,000 after purchasing an additional 7,536,678 shares during the period. Finally, Vanguard Group Inc. lifted its stake in shares of Enbridge by 5.7% during the 3rd quarter. Vanguard Group Inc. now owns 81,491,857 shares of the pipeline company’s stock worth $2,704,715,000 after purchasing an additional 4,400,848 shares during the period. Institutional investors and hedge funds own 54.60% of the company’s stock.

Enbridge Trading Up 1.0 %

Shares of Enbridge stock opened at $35.35 on Thursday. Enbridge Inc. has a fifty-two week low of $31.03 and a fifty-two week high of $38.37. The firm has a market cap of $75.15 billion, a PE ratio of 17.94, a P/E/G ratio of 3.28 and a beta of 0.90. The business’s fifty day moving average is $35.93 and its two-hundred day moving average is $35.63. The company has a quick ratio of 0.59, a current ratio of 0.68 and a debt-to-equity ratio of 1.35.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its earnings results on Friday, May 10th. The pipeline company reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.09. The business had revenue of $8.19 billion for the quarter, compared to analyst estimates of $9 billion. Enbridge had a return on equity of 10.53% and a net margin of 13.59%. Analysts anticipate that Enbridge Inc. will post 2.13 earnings per share for the current year.

Enbridge Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Saturday, June 1st. Investors of record on Wednesday, May 15th were given a $0.677 dividend. This is a positive change from Enbridge’s previous quarterly dividend of $0.66. This represents a $2.71 annualized dividend and a dividend yield of 7.66%. The ex-dividend date was Tuesday, May 14th. Enbridge’s dividend payout ratio (DPR) is 136.04%.

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.