Cedar Wealth Management LLC Has $162,000 Stock Position in Enbridge Inc. (NYSE:ENB)

Cedar Wealth Management LLC increased its holdings in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 28.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,538 shares of the pipeline company’s stock after acquiring an additional 1,000 shares during the period. Cedar Wealth Management LLC’s holdings in Enbridge were worth $162,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in Enbridge by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 84,280,486 shares of the pipeline company’s stock valued at $3,049,268,000 after acquiring an additional 1,227,031 shares in the last quarter. TD Asset Management Inc lifted its position in shares of Enbridge by 0.9% during the first quarter. TD Asset Management Inc now owns 38,087,489 shares of the pipeline company’s stock valued at $1,377,708,000 after purchasing an additional 337,729 shares in the last quarter. 1832 Asset Management L.P. grew its position in Enbridge by 3.9% in the 1st quarter. 1832 Asset Management L.P. now owns 36,649,579 shares of the pipeline company’s stock worth $1,325,982,000 after purchasing an additional 1,360,439 shares in the last quarter. Cibc World Market Inc. grew its holdings in shares of Enbridge by 12.8% in the second quarter. Cibc World Market Inc. now owns 32,531,675 shares of the pipeline company’s stock valued at $1,157,802,000 after acquiring an additional 3,693,495 shares in the last quarter. Finally, Bank of Nova Scotia increased its position in shares of Enbridge by 6.8% during the fourth quarter. Bank of Nova Scotia now owns 29,995,342 shares of the pipeline company’s stock valued at $1,079,833,000 after acquiring an additional 1,910,302 shares during the last quarter. Institutional investors own 54.60% of the company’s stock.

Enbridge Stock Down 0.3 %

Shares of NYSE:ENB opened at $40.39 on Friday. 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 company has a market capitalization of $86.19 billion, a PE ratio of 20.50, a price-to-earnings-growth ratio of 3.91 and a beta of 0.94. The business has a fifty day moving average price of $38.70 and a two-hundred day moving average price of $36.75. Enbridge Inc. has a 1 year low of $31.03 and a 1 year high of $41.22.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings results on Friday, August 2nd. The pipeline company reported $0.58 EPS for the quarter, beating 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 firm had revenue of $8.29 billion for the quarter, compared to analysts’ expectations of $4.28 billion. During the same quarter in the prior year, the firm earned $0.51 EPS. 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 dividend of $0.669 per share. This represents a $2.68 annualized dividend and a yield of 6.63%. The ex-dividend date was Thursday, August 15th. Enbridge’s dividend payout ratio 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.