Enbridge Inc. (NYSE:ENB) Stake Boosted by Barrow Hanley Mewhinney & Strauss LLC

Barrow Hanley Mewhinney & Strauss LLC increased its stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 3.7% during the second quarter, according to its most recent filing with the SEC. The fund owned 23,083,951 shares of the pipeline company’s stock after buying an additional 827,540 shares during the quarter. Enbridge accounts for approximately 2.8% of Barrow Hanley Mewhinney & Strauss LLC’s portfolio, making the stock its largest holding. Barrow Hanley Mewhinney & Strauss LLC owned 1.08% of Enbridge worth $821,331,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. TD Asset Management Inc raised its stake in Enbridge by 24.9% in the 4th quarter. TD Asset Management Inc now owns 37,749,760 shares of the pipeline company’s stock valued at $1,365,583,000 after acquiring an additional 7,536,678 shares during the period. M&G Plc bought a new stake in Enbridge in the 1st quarter valued at about $152,843,000. Cibc World Market Inc. raised its stake in Enbridge by 12.8% in the 2nd quarter. Cibc World Market Inc. now owns 32,531,675 shares of the pipeline company’s stock valued at $1,157,802,000 after acquiring an additional 3,693,495 shares during the period. Canada Pension Plan Investment Board raised its stake in Enbridge by 66.9% in the 1st quarter. Canada Pension Plan Investment Board now owns 9,044,864 shares of the pipeline company’s stock valued at $327,172,000 after acquiring an additional 3,624,089 shares during the period. Finally, The Manufacturers Life Insurance Company raised its stake in Enbridge by 15.2% in the 4th quarter. The Manufacturers Life Insurance Company now owns 21,932,752 shares of the pipeline company’s stock valued at $790,785,000 after acquiring an additional 2,895,742 shares during the period. 54.60% of the stock is owned by hedge funds and other institutional investors.

Enbridge Trading Up 0.3 %

Shares of Enbridge stock opened at $40.52 on Friday. Enbridge Inc. has a 52-week low of $31.03 and a 52-week high of $41.22. The stock’s 50-day simple moving average is $38.79 and its 200 day simple moving average is $36.80. The stock 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. 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 announced its quarterly earnings results on Friday, August 2nd. The pipeline company reported $0.58 earnings per share for the quarter, beating 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 firm had revenue of $8.29 billion for the quarter, compared to analysts’ expectations of $4.28 billion. During the same period in the prior year, the business posted $0.51 earnings per share. As a group, research analysts anticipate that Enbridge Inc. will post 2.06 EPS for the current year.

Enbridge Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Thursday, August 15th were given a dividend of $0.669 per share. This represents a $2.68 annualized dividend and a dividend yield of 6.60%. The ex-dividend date of this dividend was Thursday, August 15th. Enbridge’s dividend 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.