WCG Wealth Advisors LLC Has $490,000 Stock Position in Enbridge Inc. (NYSE:ENB)

WCG Wealth Advisors LLC increased its stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 30.9% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 13,779 shares of the pipeline company’s stock after purchasing an additional 3,254 shares during the period. WCG Wealth Advisors LLC’s holdings in Enbridge were worth $490,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of ENB. Dimensional Fund Advisors LP increased its position in shares of Enbridge by 3.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,348,064 shares of the pipeline company’s stock worth $84,578,000 after purchasing an additional 72,129 shares during the period. UBS Group AG grew its position in Enbridge by 0.3% in the fourth quarter. UBS Group AG now owns 2,426,281 shares of the pipeline company’s stock valued at $87,395,000 after acquiring an additional 7,476 shares during the last quarter. Corient Private Wealth LLC grew its position in Enbridge by 4.0% in the fourth quarter. Corient Private Wealth LLC now owns 323,217 shares of the pipeline company’s stock valued at $11,642,000 after acquiring an additional 12,322 shares during the last quarter. CreativeOne Wealth LLC bought a new position in Enbridge in the fourth quarter valued at about $220,000. Finally, Assetmark Inc. grew its position in Enbridge by 16.0% in the fourth quarter. Assetmark Inc. now owns 40,000 shares of the pipeline company’s stock valued at $1,441,000 after acquiring an additional 5,525 shares during the last quarter. Institutional investors own 54.60% of the company’s stock.

Enbridge Stock Performance

Enbridge stock opened at $40.39 on Friday. Enbridge Inc. has a 12-month low of $31.03 and a 12-month 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 business’s 50-day moving average price is $38.70 and its two-hundred day moving average price is $36.75. The stock has a market cap of $86.19 billion, a PE ratio of 20.50, a P/E/G ratio of 3.91 and a beta of 0.94.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings results on Friday, August 2nd. The pipeline company reported $0.58 EPS for the quarter, beating analysts’ consensus estimates of $0.45 by $0.13. Enbridge had a return on equity of 10.07% and a net margin of 13.31%. The firm had revenue of $8.29 billion for the quarter, compared to analyst estimates of $4.28 billion. During the same period last year, the firm posted $0.51 earnings per share. As a group, 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. Stockholders of record on Thursday, August 15th were paid a dividend of $0.669 per share. This represents a $2.68 dividend on an annualized basis and a dividend yield of 6.63%. The ex-dividend date was Thursday, August 15th. Enbridge’s payout ratio 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.