Concorde Asset Management LLC Takes $232,000 Position in Enbridge Inc. (NYSE:ENB)

Concorde Asset Management LLC purchased a new position in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 6,527 shares of the pipeline company’s stock, valued at approximately $232,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ENB. TruNorth Capital Management LLC acquired a new position in shares of Enbridge during the second quarter worth $28,000. Ameritas Investment Partners Inc. acquired a new position in Enbridge in the 1st quarter worth $29,000. Richardson Financial Services Inc. purchased a new position in Enbridge in the 1st quarter valued at about $31,000. PFS Partners LLC grew its stake in shares of Enbridge by 95.8% during the first 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. Finally, Northwest Bank & Trust Co purchased a new stake in shares of Enbridge during the fourth quarter worth about $34,000. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Enbridge Price Performance

Shares of NYSE ENB opened at $40.52 on Thursday. Enbridge Inc. has a fifty-two week low of $31.03 and a fifty-two week high of $41.22. The company has a quick ratio of 0.68, a current ratio of 0.77 and a debt-to-equity ratio of 1.34. The firm has a market cap of $86.45 billion, a PE ratio of 20.57, a price-to-earnings-growth ratio of 3.91 and a beta of 0.94. The business has a 50 day moving average price of $38.61 and a two-hundred day moving average price of $36.72.

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

Enbridge Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Thursday, August 15th were paid a $0.669 dividend. The ex-dividend date was Thursday, August 15th. This represents a $2.68 dividend on an annualized basis and a yield of 6.60%. Enbridge’s dividend payout ratio (DPR) is 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.