Enbridge Inc. (NYSE:ENB) Shares Sold by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. trimmed its position in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 1.5% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 19,400 shares of the pipeline company’s stock after selling 300 shares during the period. Daiwa Securities Group Inc.’s holdings in Enbridge were worth $690,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP lifted its stake in Enbridge by 3.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,348,064 shares of the pipeline company’s stock valued at $84,578,000 after acquiring an additional 72,129 shares during the period. Financial Advocates Investment Management lifted its position in Enbridge by 22.5% during the fourth quarter. Financial Advocates Investment Management now owns 28,804 shares of the pipeline company’s stock valued at $1,039,000 after purchasing an additional 5,283 shares during the period. Level Four Advisory Services LLC lifted its position in Enbridge by 26.2% during the fourth quarter. Level Four Advisory Services LLC now owns 29,670 shares of the pipeline company’s stock valued at $1,069,000 after purchasing an additional 6,160 shares during the period. Sheaff Brock Investment Advisors LLC grew its position in Enbridge by 24.8% during the 4th quarter. Sheaff Brock Investment Advisors LLC now owns 19,724 shares of the pipeline company’s stock worth $710,000 after purchasing an additional 3,919 shares during the period. Finally, Norges Bank purchased a new position in shares of Enbridge during the 4th quarter valued at about $714,662,000. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Enbridge Stock Up 0.6 %

Shares of ENB opened at $40.73 on Monday. The company has a market capitalization of $88.69 billion, a price-to-earnings ratio of 20.68, a PEG ratio of 3.91 and a beta of 0.94. Enbridge Inc. has a 52 week low of $31.03 and a 52 week high of $40.83. The stock’s 50-day moving average price is $38.29 and its 200-day moving average price is $36.60. The company has a quick ratio of 0.68, a current ratio of 0.77 and a debt-to-equity ratio of 1.34.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings data on Friday, August 2nd. The pipeline company reported $0.58 EPS for the quarter, topping the consensus estimate of $0.45 by $0.13. Enbridge had a return on equity of 10.07% and a net margin of 13.31%. The business had revenue of $8.29 billion for the quarter, compared to analyst estimates of $4.28 billion. During the same quarter in the prior year, the firm posted $0.51 EPS. On average, sell-side analysts predict that Enbridge Inc. will post 2.06 EPS for the current year.

Enbridge Cuts Dividend

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