SMH Capital Advisors Inc. Makes New Investment in Enbridge Inc. (NYSE:ENB)

SMH Capital Advisors Inc. acquired a new stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 15,506 shares of the pipeline company’s stock, valued at approximately $552,000. Enbridge comprises 1.7% of SMH Capital Advisors Inc.’s portfolio, making the stock its 11th biggest position.

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

Enbridge Stock Down 0.7 %

Shares of NYSE ENB opened at $40.52 on Thursday. Enbridge Inc. has a 1 year low of $31.03 and a 1 year high of $41.22. The firm has a market cap of $86.45 billion, a price-to-earnings ratio of 20.57, a PEG ratio of 3.91 and a beta of 0.94. 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 stock’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 announced its quarterly earnings data on Friday, August 2nd. The pipeline company reported $0.58 earnings per share for the quarter, beating 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 during the quarter, compared to analyst estimates of $4.28 billion. During the same period in the previous year, the company earned $0.51 earnings per share. As a group, equities analysts anticipate that Enbridge Inc. will post 2.06 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. Shareholders of record on Thursday, August 15th were given a $0.669 dividend. The ex-dividend date was Thursday, August 15th. This represents a $2.68 dividend on an annualized basis and a yield of 6.60%. 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.