Carolinas Wealth Consulting LLC Sells 1,802 Shares of Enbridge Inc. (NYSE:ENB)

Carolinas Wealth Consulting LLC reduced its holdings in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 15.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,026 shares of the pipeline company’s stock after selling 1,802 shares during the quarter. Carolinas Wealth Consulting LLC’s holdings in Enbridge were worth $357,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. TruNorth Capital Management LLC purchased a new stake in shares of Enbridge during the 2nd quarter valued at approximately $28,000. Ameritas Investment Partners Inc. purchased a new stake in shares of Enbridge during the 1st quarter valued at approximately $29,000. Richardson Financial Services Inc. purchased a new stake in shares of Enbridge during the 1st quarter valued at approximately $31,000. PFS Partners LLC lifted its stake in shares of Enbridge by 95.8% during the 1st 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 purchased 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 Stock Performance

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 company has a debt-to-equity ratio of 1.34, a current ratio of 0.77 and a quick ratio of 0.68. The stock 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. The company’s 50 day simple moving average is $38.61 and its two-hundred day simple moving average is $36.72.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its earnings results on Friday, August 2nd. The pipeline company reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.13. Enbridge had a net margin of 13.31% and a return on equity of 10.07%. The business had revenue of $8.29 billion for the quarter, compared to analysts’ expectations of $4.28 billion. During the same period in the prior year, the company posted $0.51 EPS. Analysts predict 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 paid a $0.669 dividend. This represents a $2.68 annualized dividend and a yield of 6.60%. The ex-dividend date was Thursday, August 15th. Enbridge’s dividend payout ratio is presently 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.