Pathway Financial Advisers LLC Acquires 2,760 Shares of Enbridge Inc. (NYSE:ENB)

Pathway Financial Advisers LLC grew its holdings in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 2.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 108,334 shares of the pipeline company’s stock after buying an additional 2,760 shares during the quarter. Enbridge accounts for approximately 1.4% of Pathway Financial Advisers LLC’s holdings, making the stock its 19th biggest holding. Pathway Financial Advisers LLC’s holdings in Enbridge were worth $3,852,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. M&G Plc bought a new position in shares of Enbridge during the first quarter valued at approximately $152,843,000. Cibc World Market Inc. grew its stake in Enbridge by 12.8% in the 2nd quarter. Cibc World Market Inc. now owns 32,531,675 shares of the pipeline company’s stock worth $1,157,802,000 after acquiring an additional 3,693,495 shares in the last quarter. Canada Pension Plan Investment Board increased its position in shares of Enbridge by 66.9% during the first quarter. Canada Pension Plan Investment Board now owns 9,044,864 shares of the pipeline company’s stock worth $327,172,000 after acquiring an additional 3,624,089 shares during the period. National Bank of Canada FI boosted its holdings in shares of Enbridge by 11.3% in the first quarter. National Bank of Canada FI now owns 21,664,748 shares of the pipeline company’s stock valued at $818,370,000 after purchasing an additional 2,203,123 shares during the period. Finally, Morningstar Investment Services LLC grew its stake in Enbridge by 129.6% in the fourth quarter. Morningstar Investment Services LLC now owns 3,631,712 shares of the pipeline company’s stock worth $131,032,000 after purchasing an additional 2,049,712 shares in the last quarter. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Jefferies Financial Group cut shares of Enbridge from a “buy” rating to a “hold” rating in a report on Monday. Two research analysts have rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, Enbridge has an average rating of “Hold” and an average target price of $51.50.

Enbridge Trading Down 0.3 %

NYSE:ENB opened at $40.61 on Tuesday. Enbridge Inc. has a 52 week low of $31.03 and a 52 week high of $41.22. The firm has a 50 day moving average of $39.34 and a 200 day moving average of $37.02. The company has a quick ratio of 0.68, a current ratio of 0.77 and a debt-to-equity ratio of 1.34. The stock has a market capitalization of $86.65 billion, a price-to-earnings ratio of 20.61, a PEG ratio of 3.93 and a beta of 0.94.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings results on Friday, August 2nd. The pipeline company reported $0.58 earnings per share 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 analyst estimates of $4.28 billion. During the same quarter in the previous year, the firm earned $0.51 earnings per share. As a group, sell-side analysts anticipate that Enbridge Inc. will post 2.08 earnings per share for the current fiscal year.

Enbridge Cuts Dividend

The company also recently announced 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. This represents a $2.68 dividend on an annualized basis and a dividend yield of 6.59%. The ex-dividend date of this dividend was Thursday, August 15th. Enbridge’s dividend payout ratio (DPR) is 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.