Enbridge Inc. (NYSE:ENB) Shares Sold by Gabelli Funds LLC

Gabelli Funds LLC trimmed its position in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 0.4% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 801,400 shares of the pipeline company’s stock after selling 3,500 shares during the period. Gabelli Funds LLC’s holdings in Enbridge were worth $28,522,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. TruNorth Capital Management LLC acquired a new position in shares of Enbridge in the second quarter valued at approximately $28,000. Ameritas Investment Partners Inc. acquired a new position in shares of Enbridge in the first quarter worth $29,000. Richardson Financial Services Inc. purchased a new stake in shares of Enbridge during the first quarter worth $31,000. PFS Partners LLC raised its stake in shares of Enbridge by 95.8% in 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 position in Enbridge in the fourth quarter valued at $34,000. 54.60% of the stock is currently owned by hedge funds and other institutional investors.

Enbridge Trading Up 0.3 %

ENB opened at $40.52 on Monday. The business has a fifty day moving average price of $38.79 and a 200 day moving average price of $36.81. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.77 and a quick ratio of 0.68. Enbridge Inc. has a 12 month low of $31.03 and a 12 month high of $41.22. The stock has a market capitalization of $86.47 billion, a price-to-earnings ratio of 20.57, a PEG ratio of 3.91 and a beta of 0.94.

Enbridge (NYSE:ENB) (TSE:ENB) last announced 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. The business had revenue of $8.29 billion during the quarter, compared to the consensus estimate of $4.28 billion. Enbridge had a return on equity of 10.07% and a net margin of 13.31%. During the same period in the previous year, the company posted $0.51 earnings per share. 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 disclosed a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Thursday, August 15th were given a $0.669 dividend. This represents a $2.68 dividend on an annualized basis and a dividend yield of 6.60%. The ex-dividend date was Thursday, August 15th. Enbridge’s dividend payout ratio is presently 134.01%.

About Enbridge

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.