Enbridge Inc. (NYSE:ENB) Shares Purchased by Brookstone Capital Management

Brookstone Capital Management grew its position in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 11.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 46,300 shares of the pipeline company’s stock after purchasing an additional 4,742 shares during the period. Brookstone Capital Management’s holdings in Enbridge were worth $1,675,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the company. BOK Financial Private Wealth Inc. purchased a new position in shares of Enbridge during the 4th quarter valued at approximately $25,000. Baystate Wealth Management LLC increased its holdings in Enbridge by 836.4% in the fourth quarter. Baystate Wealth Management LLC now owns 721 shares of the pipeline company’s stock valued at $26,000 after buying an additional 644 shares in the last quarter. Tennessee Valley Asset Management Partners acquired a new position in shares of Enbridge in the fourth quarter worth about $28,000. Financial Gravity Asset Management Inc. boosted its stake in shares of Enbridge by 2,294.6% during the 3rd quarter. Financial Gravity Asset Management Inc. now owns 886 shares of the pipeline company’s stock worth $29,000 after acquiring an additional 849 shares in the last quarter. Finally, Planned Solutions Inc. acquired a new stake in shares of Enbridge during the 4th quarter valued at about $34,000. 54.60% of the stock is currently owned by hedge funds and other institutional investors.

Enbridge Price Performance

Shares of Enbridge stock opened at $35.59 on Friday. The firm has a market cap of $75.93 billion, a PE ratio of 18.06, a P/E/G ratio of 3.31 and a beta of 0.90. The business has a 50-day moving average price of $36.01 and a 200 day moving average price of $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 Inc. has a twelve month low of $31.03 and a twelve month high of $38.37.

Enbridge (NYSE:ENB) (TSE:ENB) last announced 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. Enbridge had a return on equity of 10.53% and a net margin of 13.59%. The business had revenue of $8.19 billion during the quarter, compared to the consensus estimate of $9 billion. Sell-side analysts predict that Enbridge Inc. will post 2.13 earnings per share for the current fiscal year.

Enbridge Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Saturday, June 1st. Stockholders of record on Wednesday, May 15th were paid a $0.677 dividend. This is an increase from Enbridge’s previous quarterly dividend of $0.66. This represents a $2.71 annualized dividend and a dividend yield of 7.61%. The ex-dividend date of this dividend was Tuesday, May 14th. Enbridge’s dividend payout ratio (DPR) is currently 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.