Burgundy Asset Management Ltd. Has $6.15 Million Stock Holdings in Enbridge Inc. (NYSE:ENB)

Burgundy Asset Management Ltd. trimmed its holdings in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 10.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 173,046 shares of the pipeline company’s stock after selling 19,396 shares during the quarter. Burgundy Asset Management Ltd.’s holdings in Enbridge were worth $6,153,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. TruNorth Capital Management LLC acquired a new position in Enbridge during the second quarter worth $28,000. Ameritas Investment Partners Inc. acquired a new stake in shares of Enbridge in the first quarter valued at about $29,000. Richardson Financial Services Inc. acquired a new stake in shares of Enbridge in the first quarter valued at about $31,000. PFS Partners LLC grew its position in shares of Enbridge by 95.8% in the first quarter. PFS Partners LLC now owns 922 shares of the pipeline company’s stock valued at $33,000 after purchasing an additional 451 shares during the last quarter. Finally, Northwest Bank & Trust Co acquired a new stake in shares of Enbridge in the fourth quarter valued at about $34,000. 54.60% of the stock is owned by institutional investors and hedge funds.

Enbridge Trading Down 0.7 %

Shares of NYSE:ENB opened at $40.52 on Thursday. The company has a market cap of $86.45 billion, a P/E ratio of 20.57, a P/E/G ratio of 3.91 and a beta of 0.94. The stock’s 50-day moving average is $38.61 and its 200-day moving average is $36.72. Enbridge Inc. has a 52-week low of $31.03 and a 52-week high of $41.22. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.68 and a current ratio of 0.77.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings results on Friday, August 2nd. The pipeline company reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.13. The company had revenue of $8.29 billion for the quarter, compared to the consensus estimate of $4.28 billion. Enbridge had a return on equity of 10.07% and a net margin of 13.31%. During the same period last year, the business posted $0.51 earnings per share. Equities research analysts predict that Enbridge Inc. will post 2.06 earnings per share for the current year.

Enbridge Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Thursday, August 15th were paid a $0.669 dividend. This represents a $2.68 annualized dividend and a dividend yield of 6.60%. The ex-dividend date was Thursday, August 15th. Enbridge’s payout ratio is presently 134.01%.

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.