Enbridge Inc. (NYSE:ENB) Shares Sold by ProShare Advisors LLC

ProShare Advisors LLC reduced its holdings in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 9.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 233,203 shares of the pipeline company’s stock after selling 24,507 shares during the quarter. ProShare Advisors LLC’s holdings in Enbridge were worth $8,296,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the business. TruNorth Capital Management LLC acquired a new stake in Enbridge in the second quarter valued at $28,000. Ameritas Investment Partners Inc. purchased a new stake in Enbridge during the first quarter worth about $29,000. Richardson Financial Services Inc. acquired a new position in Enbridge during the first quarter worth about $31,000. PFS Partners LLC increased its holdings in 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 buying an additional 451 shares in the last quarter. Finally, Northwest Bank & Trust Co acquired a new stake in shares of Enbridge during the 4th quarter valued at approximately $34,000. 54.60% of the stock is currently owned by hedge funds and other institutional investors.

Enbridge Price Performance

Shares of NYSE:ENB opened at $40.86 on Wednesday. Enbridge Inc. has a 12 month low of $31.03 and a 12 month high of $41.22. The firm has a market capitalization of $87.19 billion, a price-to-earnings ratio of 20.74, a price-to-earnings-growth ratio of 3.91 and a beta of 0.94. The business’s 50 day simple moving average is $38.99 and its 200-day simple moving average is $36.89. 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 (NYSE:ENB) (TSE:ENB) last posted its 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. The company had revenue of $8.29 billion for 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 business earned $0.51 earnings per share. As a group, equities analysts forecast that Enbridge Inc. will post 2.06 earnings per share for the current fiscal year.

Enbridge Cuts Dividend

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