Enbridge Inc. (NYSE:ENB) Shares Sold by Weaver C. Barksdale & Associates Inc.

Weaver C. Barksdale & Associates Inc. reduced its stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 1.7% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 45,633 shares of the pipeline company’s stock after selling 802 shares during the period. Weaver C. Barksdale & Associates Inc.’s holdings in Enbridge were worth $1,624,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. TD Asset Management Inc lifted its holdings in shares of Enbridge by 24.9% in the 4th quarter. TD Asset Management Inc now owns 37,749,760 shares of the pipeline company’s stock worth $1,365,583,000 after acquiring an additional 7,536,678 shares during the last quarter. M&G Plc acquired a new position in Enbridge during the first quarter worth $152,843,000. Cibc World Market Inc. boosted its position in shares of Enbridge by 12.8% during the second quarter. Cibc World Market Inc. now owns 32,531,675 shares of the pipeline company’s stock worth $1,157,802,000 after buying an additional 3,693,495 shares during the period. Canada Pension Plan Investment Board boosted its position in shares of Enbridge by 66.9% during the first quarter. Canada Pension Plan Investment Board now owns 9,044,864 shares of the pipeline company’s stock worth $327,172,000 after buying an additional 3,624,089 shares during the period. Finally, The Manufacturers Life Insurance Company grew its stake in shares of Enbridge by 15.2% in the fourth quarter. The Manufacturers Life Insurance Company now owns 21,932,752 shares of the pipeline company’s stock valued at $790,785,000 after buying an additional 2,895,742 shares in the last quarter. Institutional investors and hedge funds own 54.60% of the company’s stock.

Enbridge Price Performance

ENB opened at $40.39 on Friday. The stock’s 50-day moving average price is $38.70 and its 200 day moving average price is $36.75. Enbridge Inc. has a 12-month low of $31.03 and a 12-month high of $41.22. The firm has a market cap of $86.19 billion, a price-to-earnings ratio of 20.50, a PEG ratio of 3.91 and a beta of 0.94. The company has a current ratio of 0.77, a quick ratio of 0.68 and a debt-to-equity ratio of 1.34.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly 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. The business had revenue of $8.29 billion for the quarter, compared to analysts’ expectations 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 prior year, the company earned $0.51 earnings per share. As a group, sell-side analysts expect that Enbridge Inc. will post 2.06 earnings per share for the current year.

Enbridge Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Thursday, August 15th were paid a $0.669 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $2.68 annualized dividend and a dividend yield of 6.63%. 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.