Enbridge Inc. (NYSE:ENB) Stock Position Reduced by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA decreased its position in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 0.3% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,910,286 shares of the pipeline company’s stock after selling 11,877 shares during the quarter. Massachusetts Financial Services Co. MA owned 0.18% of Enbridge worth $139,167,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Dimensional Fund Advisors LP increased its stake in Enbridge by 3.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,348,064 shares of the pipeline company’s stock valued at $84,578,000 after purchasing an additional 72,129 shares during the last quarter. UBS Group AG grew its position in shares of Enbridge by 0.3% during the 4th quarter. UBS Group AG now owns 2,426,281 shares of the pipeline company’s stock valued at $87,395,000 after buying an additional 7,476 shares during the last quarter. D.A. Davidson & CO. raised its stake in Enbridge by 5.4% during the fourth quarter. D.A. Davidson & CO. now owns 198,374 shares of the pipeline company’s stock worth $7,145,000 after acquiring an additional 10,233 shares during the period. Corient Private Wealth LLC lifted its holdings in Enbridge by 4.0% in the fourth quarter. Corient Private Wealth LLC now owns 323,217 shares of the pipeline company’s stock worth $11,642,000 after acquiring an additional 12,322 shares during the last quarter. Finally, GW&K Investment Management LLC boosted its stake in Enbridge by 8.8% in the fourth quarter. GW&K Investment Management LLC now owns 778,712 shares of the pipeline company’s stock valued at $28,049,000 after acquiring an additional 62,902 shares during the period. 54.60% of the stock is currently owned by institutional investors.

Enbridge Stock Down 0.7 %

Shares of Enbridge stock opened at $40.52 on Thursday. The stock has a market capitalization of $86.45 billion, a price-to-earnings ratio of 20.57, a PEG ratio of 3.91 and a beta of 0.94. Enbridge Inc. has a twelve month low of $31.03 and a twelve month high of $41.22. The company has a current ratio of 0.77, a quick ratio of 0.68 and a debt-to-equity ratio of 1.34. The business’s 50 day simple moving average is $38.61 and its 200-day simple moving average is $36.72.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its earnings results on Friday, August 2nd. The pipeline company reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.13. Enbridge had a return on equity of 10.07% and a net margin of 13.31%. The firm had revenue of $8.29 billion for the quarter, compared to analyst estimates of $4.28 billion. During the same period last year, the company earned $0.51 earnings per share. Equities research analysts forecast that Enbridge Inc. will post 2.06 earnings per share for the current year.

Enbridge Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Thursday, August 15th were paid a dividend of $0.669 per share. This represents a $2.68 dividend on an annualized basis and a yield of 6.60%. The ex-dividend date was Thursday, August 15th. Enbridge’s payout ratio is 134.01%.

Enbridge 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.