American Century Companies Inc. Lowers Stock Position in Enbridge Inc. (NYSE:ENB)

American Century Companies Inc. lessened its stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 7.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 200,928 shares of the pipeline company’s stock after selling 17,126 shares during the period. American Century Companies Inc.’s holdings in Enbridge were worth $7,148,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. TruNorth Capital Management LLC purchased a new position in Enbridge in the second quarter worth $28,000. Ameritas Investment Partners Inc. purchased a new stake in shares of Enbridge in the 1st quarter valued at $29,000. Richardson Financial Services Inc. bought a new position in shares of Enbridge during the 1st quarter valued at $31,000. PFS Partners LLC raised its position in Enbridge by 95.8% in the 1st 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 period. Finally, Northwest Bank & Trust Co purchased a new position in Enbridge in the 4th quarter worth $34,000. Institutional investors own 54.60% of the company’s stock.

Enbridge Stock Performance

NYSE ENB opened at $40.89 on Tuesday. The firm has a market cap of $87.24 billion, a price-to-earnings ratio of 20.75, a PEG ratio of 3.91 and a beta of 0.94. The company has a 50-day simple moving average of $38.89 and a two-hundred day simple moving average of $36.85. The company has a quick ratio of 0.68, a current ratio of 0.77 and a debt-to-equity ratio of 1.34. Enbridge Inc. has a 12-month low of $31.03 and a 12-month high of $41.22.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings results 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 business had revenue of $8.29 billion for the quarter, compared to analysts’ expectations of $4.28 billion. During the same period in the previous year, the firm earned $0.51 EPS. On average, equities analysts forecast that Enbridge Inc. will post 2.06 EPS for the current year.

Enbridge Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Thursday, August 15th were issued a $0.669 dividend. This represents a $2.68 dividend on an annualized basis and a yield of 6.55%. The ex-dividend date was Thursday, August 15th. Enbridge’s dividend payout ratio (DPR) 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.