Greenline Partners LLC Acquires 19,993 Shares of Enbridge Inc. (NYSE:ENB)

Greenline Partners LLC raised its holdings in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 6.4% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 333,141 shares of the pipeline company’s stock after buying an additional 19,993 shares during the period. Enbridge comprises approximately 1.8% of Greenline Partners LLC’s investment portfolio, making the stock its 14th biggest holding. Greenline Partners LLC’s holdings in Enbridge were worth $11,750,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Barrow Hanley Mewhinney & Strauss LLC increased its stake in shares of Enbridge by 3.7% during the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 23,083,951 shares of the pipeline company’s stock worth $821,331,000 after purchasing an additional 827,540 shares during the period. Ensign Peak Advisors Inc increased its stake in shares of Enbridge by 7.2% during the second quarter. Ensign Peak Advisors Inc now owns 137,250 shares of the pipeline company’s stock worth $5,054,000 after purchasing an additional 9,200 shares during the period. Westwood Holdings Group Inc. increased its stake in shares of Enbridge by 26.6% during the second quarter. Westwood Holdings Group Inc. now owns 2,272,604 shares of the pipeline company’s stock worth $80,882,000 after purchasing an additional 477,425 shares during the period. Thrivent Financial for Lutherans increased its stake in shares of Enbridge by 4.9% during the second quarter. Thrivent Financial for Lutherans now owns 37,837 shares of the pipeline company’s stock worth $1,346,000 after purchasing an additional 1,766 shares during the period. Finally, AE Wealth Management LLC increased its stake in shares of Enbridge by 9.4% during the second quarter. AE Wealth Management LLC now owns 57,461 shares of the pipeline company’s stock worth $2,045,000 after purchasing an additional 4,937 shares during the period. Institutional investors own 54.60% of the company’s stock.

Enbridge Price Performance

Shares of NYSE ENB opened at $40.52 on Friday. The business’s 50 day moving average is $38.79 and its 200-day moving average is $36.80. Enbridge Inc. has a 1-year low of $31.03 and a 1-year high of $41.22. The company has a current ratio of 0.77, a quick ratio of 0.68 and a debt-to-equity ratio of 1.34. The firm has a market cap of $86.47 billion, a P/E ratio of 20.57, a price-to-earnings-growth ratio of 3.91 and a beta of 0.94.

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, topping 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 quarter last year, the company earned $0.51 EPS. 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 disclosed a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Thursday, August 15th were paid a dividend of $0.669 per share. 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 presently 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.