Sunbelt Securities Inc. Raises Stock Holdings in Enbridge Inc. (NYSE:ENB)

Sunbelt Securities Inc. raised its stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 147.6% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 27,574 shares of the pipeline company’s stock after acquiring an additional 16,437 shares during the period. Sunbelt Securities Inc.’s holdings in Enbridge were worth $998,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. Cary Street Partners Investment Advisory LLC raised its stake in Enbridge by 45.2% during the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 9,338 shares of the pipeline company’s stock valued at $313,000 after buying an additional 2,906 shares during the last quarter. Mutual Advisors LLC increased its position in Enbridge by 18.9% during the third quarter. Mutual Advisors LLC now owns 33,348 shares of the pipeline company’s stock valued at $1,109,000 after acquiring an additional 5,306 shares during the last quarter. Qube Research & Technologies Ltd lifted its holdings in Enbridge by 4.5% in the third quarter. Qube Research & Technologies Ltd now owns 94,966 shares of the pipeline company’s stock valued at $3,152,000 after acquiring an additional 4,120 shares during the period. Bank of Nova Scotia boosted its position in Enbridge by 5.1% in the third quarter. Bank of Nova Scotia now owns 28,085,040 shares of the pipeline company’s stock worth $931,516,000 after purchasing an additional 1,353,753 shares during the last quarter. Finally, Toronto Dominion Bank boosted its position in Enbridge by 12.2% in the third quarter. Toronto Dominion Bank now owns 16,794,345 shares of the pipeline company’s stock worth $557,404,000 after purchasing an additional 1,821,785 shares during the last quarter. 54.60% of the stock is currently owned by institutional investors.

Enbridge Price Performance

NYSE ENB opened at $35.27 on Friday. The company has a quick ratio of 0.59, a current ratio of 0.68 and a debt-to-equity ratio of 1.35. The firm has a market capitalization of $74.98 billion, a P/E ratio of 17.93, a PEG ratio of 3.28 and a beta of 0.90. The company has a 50-day moving average price of $35.97 and a 200-day moving average price of $35.62. Enbridge Inc. has a 52 week low of $31.03 and a 52 week high of $38.37.

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

Enbridge Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Saturday, June 1st. Investors of record on Wednesday, May 15th were given a dividend of $0.677 per share. The ex-dividend date was Tuesday, May 14th. This is an increase from Enbridge’s previous quarterly dividend of $0.66. This represents a $2.71 annualized dividend and a yield of 7.68%. Enbridge’s payout ratio is 136.04%.

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.