Evergreen Capital Management LLC Increases Position in Enbridge Inc. (NYSE:ENB)

Evergreen Capital Management LLC lifted its stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 14.0% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 103,406 shares of the pipeline company’s stock after purchasing an additional 12,688 shares during the quarter. Evergreen Capital Management LLC’s holdings in Enbridge were worth $3,680,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in ENB. TruNorth Capital Management LLC bought a new stake in Enbridge in the second quarter worth $28,000. Ameritas Investment Partners Inc. bought a new stake in Enbridge during the 1st quarter valued at about $29,000. Richardson Financial Services Inc. purchased a new position in Enbridge in the first quarter worth about $31,000. PFS Partners LLC lifted its stake in shares of Enbridge by 95.8% in the first quarter. PFS Partners LLC now owns 922 shares of the pipeline company’s stock worth $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 fourth quarter valued at approximately $34,000. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Enbridge Price Performance

Shares of NYSE ENB opened at $40.89 on Tuesday. The firm has a market cap of $87.24 billion, a P/E ratio of 20.75, 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 quick ratio of 0.68, a current ratio of 0.77 and a debt-to-equity ratio of 1.34. The company has a 50 day moving average of $38.89 and a 200 day moving average of $36.85.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings results on Friday, August 2nd. The pipeline company reported $0.58 earnings per share (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 the consensus estimate of $4.28 billion. During the same period in the prior year, the company posted $0.51 earnings per share. As a group, research analysts expect that Enbridge Inc. will post 2.06 EPS for the current fiscal year.

Enbridge Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Stockholders 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 dividend on an annualized basis and a dividend yield of 6.55%. 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.