AE Wealth Management LLC Buys 4,937 Shares of Enbridge Inc. (NYSE:ENB)

AE Wealth Management LLC increased its position in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 9.4% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 57,461 shares of the pipeline company’s stock after buying an additional 4,937 shares during the period. AE Wealth Management LLC’s holdings in Enbridge were worth $2,045,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Cedar Wealth Management LLC grew its position in shares of Enbridge by 28.3% during the 2nd quarter. Cedar Wealth Management LLC now owns 4,538 shares of the pipeline company’s stock worth $162,000 after buying an additional 1,000 shares during the period. Benjamin F. Edwards & Company Inc. grew its holdings in Enbridge by 4.5% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 50,649 shares of the pipeline company’s stock worth $1,802,000 after purchasing an additional 2,165 shares during the period. Brighton Jones LLC acquired a new position in shares of Enbridge during the second quarter valued at about $205,000. Intech Investment Management LLC grew its stake in shares of Enbridge by 158.6% in the 2nd quarter. Intech Investment Management LLC now owns 290,940 shares of the pipeline company’s stock valued at $10,348,000 after buying an additional 178,436 shares during the period. Finally, Cowa LLC bought a new stake in Enbridge in the 2nd quarter valued at about $210,000. Institutional investors and hedge funds own 54.60% of the company’s stock.

Enbridge Stock Up 0.9 %

Shares of NYSE:ENB opened at $40.89 on Tuesday. The business’s 50 day simple moving average is $38.89 and its two-hundred day simple moving average is $36.85. Enbridge Inc. has a 52-week low of $31.03 and a 52-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. The firm has a market cap of $87.24 billion, a P/E ratio of 20.75, a PEG ratio of 3.91 and a beta of 0.94.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings results on Friday, August 2nd. The pipeline company reported $0.58 earnings per share (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 business had revenue of $8.29 billion during the quarter, compared to the consensus estimate of $4.28 billion. During the same quarter in the previous year, the business earned $0.51 EPS. As a group, research analysts forecast that Enbridge Inc. will post 2.06 EPS for the current fiscal year.

Enbridge Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Thursday, August 15th were issued 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 yield of 6.55%. Enbridge’s dividend payout ratio (DPR) is currently 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.