Enbridge Inc. (NYSE:ENB) Shares Purchased by Intech Investment Management LLC

Intech Investment Management LLC boosted its position in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 158.6% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 290,940 shares of the pipeline company’s stock after acquiring an additional 178,436 shares during the quarter. Intech Investment Management LLC’s holdings in Enbridge were worth $10,348,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. TruNorth Capital Management LLC purchased a new stake in Enbridge in the second quarter valued at approximately $28,000. Ameritas Investment Partners Inc. acquired a new stake in shares of Enbridge in the first quarter worth $29,000. Richardson Financial Services Inc. acquired a new stake in shares of Enbridge in the first quarter worth $31,000. PFS Partners LLC raised its holdings in shares of Enbridge by 95.8% during the first quarter. PFS Partners LLC now owns 922 shares of the pipeline company’s stock worth $33,000 after purchasing an additional 451 shares during the last quarter. Finally, Northwest Bank & Trust Co acquired a new position in Enbridge during the fourth quarter valued at $34,000. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Enbridge Price Performance

Shares of ENB opened at $40.52 on Friday. The business’s 50-day moving average is $38.79 and its two-hundred day moving average is $36.79. The company has a market capitalization of $86.47 billion, a P/E ratio of 20.57, a P/E/G ratio of 3.91 and a beta of 0.94. Enbridge Inc. has a fifty-two week low of $31.03 and a fifty-two 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 posted its earnings results on Friday, August 2nd. The pipeline company reported $0.58 EPS for the quarter, topping the consensus estimate of $0.45 by $0.13. The firm had revenue of $8.29 billion for the quarter, compared to analyst estimates 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 company earned $0.51 earnings per share. Research analysts predict that Enbridge Inc. will post 2.06 earnings per share for the current year.

Enbridge Cuts Dividend

The company also recently disclosed 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. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 6.60%. Enbridge’s payout ratio is 134.01%.

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.