Brown Brothers Harriman & Co. Reduces Position in Enbridge Inc. (NYSE:ENB)

Brown Brothers Harriman & Co. lessened its holdings in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 31.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,579 shares of the pipeline company’s stock after selling 3,938 shares during the period. Brown Brothers Harriman & Co.’s holdings in Enbridge were worth $305,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of ENB. Rockwood Wealth Management LLC raised its stake in shares of Enbridge by 2.6% during the second quarter. Rockwood Wealth Management LLC now owns 11,107 shares of the pipeline company’s stock valued at $395,000 after acquiring an additional 285 shares in the last quarter. Whittier Trust Co. of Nevada Inc. raised its stake in shares of Enbridge by 3.7% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 8,269 shares of the pipeline company’s stock valued at $294,000 after acquiring an additional 298 shares in the last quarter. Nations Financial Group Inc. IA ADV raised its stake in shares of Enbridge by 1.7% during the second quarter. Nations Financial Group Inc. IA ADV now owns 18,237 shares of the pipeline company’s stock valued at $649,000 after acquiring an additional 298 shares in the last quarter. Perigon Wealth Management LLC raised its stake in shares of Enbridge by 3.7% during the first quarter. Perigon Wealth Management LLC now owns 8,827 shares of the pipeline company’s stock valued at $319,000 after acquiring an additional 314 shares in the last quarter. Finally, RFG Advisory LLC raised its stake in shares of Enbridge by 2.3% during the second quarter. RFG Advisory LLC now owns 14,183 shares of the pipeline company’s stock valued at $505,000 after acquiring an additional 325 shares in the last quarter. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Enbridge Stock Performance

Enbridge stock opened at $40.52 on Thursday. The company has a market capitalization of $86.45 billion, a PE ratio of 20.57, a P/E/G ratio of 3.91 and a beta of 0.94. Enbridge Inc. has a fifty-two week low of $31.03 and a fifty-two 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 company has a 50 day moving average price of $38.61 and a 200-day moving average price of $36.72.

Enbridge (NYSE:ENB) (TSE:ENB) last issued 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 company had revenue of $8.29 billion during the quarter, compared to the consensus estimate of $4.28 billion. Enbridge had a net margin of 13.31% and a return on equity of 10.07%. During the same quarter in the previous year, the firm posted $0.51 earnings per share. As a group, equities analysts forecast that Enbridge Inc. will post 2.06 earnings per share for the current year.

Enbridge Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Thursday, August 15th were paid a $0.669 dividend. This represents a $2.68 dividend on an annualized basis and a yield of 6.60%. The ex-dividend date of this dividend was Thursday, August 15th. Enbridge’s dividend payout ratio (DPR) is 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.