Pettinga Financial Advisors LLC Sells 550 Shares of Enbridge Inc. (NYSE:ENB)

Pettinga Financial Advisors LLC decreased its position in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 7.5% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 6,738 shares of the pipeline company’s stock after selling 550 shares during the quarter. Pettinga Financial Advisors LLC’s holdings in Enbridge were worth $244,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the company. BOK Financial Private Wealth Inc. bought a new stake in shares of Enbridge in the 4th quarter valued at $25,000. Baystate Wealth Management LLC increased its stake in shares of Enbridge by 836.4% in the 4th quarter. Baystate Wealth Management LLC now owns 721 shares of the pipeline company’s stock valued at $26,000 after acquiring an additional 644 shares in the last quarter. Tennessee Valley Asset Management Partners bought a new stake in shares of Enbridge in the 4th quarter valued at $28,000. Financial Gravity Asset Management Inc. increased its stake in shares of Enbridge by 2,294.6% in the 3rd quarter. Financial Gravity Asset Management Inc. now owns 886 shares of the pipeline company’s stock valued at $29,000 after acquiring an additional 849 shares in the last quarter. Finally, PFS Partners LLC increased its stake in shares of 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 in the last quarter. Institutional investors own 54.60% of the company’s stock.

Enbridge Stock Performance

NYSE:ENB opened at $35.65 on Monday. The company has a fifty day moving average of $36.01 and a 200-day moving average of $35.63. Enbridge Inc. has a twelve month low of $31.03 and a twelve month high of $38.37. 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 $76.07 billion, a P/E ratio of 18.07, a P/E/G ratio of 3.34 and a beta of 0.92.

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

Enbridge Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Saturday, June 1st. Investors of record on Wednesday, May 15th were given a $0.677 dividend. The ex-dividend date was Tuesday, May 14th. This represents a $2.71 annualized dividend and a yield of 7.60%. This is an increase from Enbridge’s previous quarterly dividend of $0.66. Enbridge’s dividend payout ratio (DPR) is presently 136.04%.

Enbridge Company 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.