Parsons Capital Management Inc. RI lessened its holdings in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 4.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 72,418 shares of the pipeline company’s stock after selling 3,631 shares during the quarter. Parsons Capital Management Inc. RI’s holdings in Enbridge were worth $2,613,000 as of its most recent SEC filing.
Other institutional investors have also modified their holdings of the company. NEXT Financial Group Inc increased its holdings in Enbridge by 67.6% during the 2nd quarter. NEXT Financial Group Inc now owns 25,215 shares of the pipeline company’s stock worth $910,000 after purchasing an additional 10,170 shares in the last quarter. Sawtooth Solutions LLC increased its holdings in Enbridge by 31.6% during the 1st quarter. Sawtooth Solutions LLC now owns 56,072 shares of the pipeline company’s stock worth $2,033,000 after purchasing an additional 13,467 shares in the last quarter. TD Asset Management Inc. increased its holdings in Enbridge by 3.7% during the 1st quarter. TD Asset Management Inc. now owns 46,596,794 shares of the pipeline company’s stock worth $1,688,151,000 after purchasing an additional 1,648,741 shares in the last quarter. Synovus Financial Corp increased its holdings in Enbridge by 3.8% during the 1st quarter. Synovus Financial Corp now owns 260,482 shares of the pipeline company’s stock worth $9,459,000 after purchasing an additional 9,428 shares in the last quarter. Finally, Addenda Capital Inc. increased its holdings in Enbridge by 6.7% during the 2nd quarter. Addenda Capital Inc. now owns 1,855,043 shares of the pipeline company’s stock worth $67,146,000 after purchasing an additional 116,982 shares in the last quarter. 55.45% of the stock is currently owned by institutional investors and hedge funds.
In related news, insider Albert Monaco acquired 7,848 shares of the firm’s stock in a transaction dated Wednesday, June 5th. The stock was bought at an average price of $49.81 per share, for a total transaction of $390,908.88. The acquisition was disclosed in a document filed with the SEC, which is available through this link. 0.42% of the stock is owned by company insiders.
Shares of NYSE ENB traded up $0.32 during mid-day trading on Thursday, hitting $33.08. The company had a trading volume of 136,856 shares, compared to its average volume of 3,027,426. The company has a market cap of $66.30 billion, a P/E ratio of 16.14, a PEG ratio of 2.64 and a beta of 0.59. The company has a 50-day moving average price of $35.02. The company has a quick ratio of 0.53, a current ratio of 0.63 and a debt-to-equity ratio of 0.92. Enbridge Inc has a one year low of $28.82 and a one year high of $38.04.
Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings data on Friday, August 2nd. The pipeline company reported $0.50 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.42 by $0.08. The company had revenue of $9.92 billion during the quarter. Enbridge had a return on equity of 8.16% and a net margin of 9.97%. On average, sell-side analysts forecast that Enbridge Inc will post 1.9 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Sunday, September 1st. Stockholders of record on Thursday, August 15th will be issued a $0.559 dividend. This is a boost from Enbridge’s previous quarterly dividend of $0.52. The ex-dividend date is Wednesday, August 14th. This represents a $2.24 annualized dividend and a dividend yield of 6.76%. Enbridge’s dividend payout ratio (DPR) is presently 106.83%.
Enbridge Inc operates as an energy infrastructure company in Canada and the United States. The company operates through five segments: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution, Green Power and Transmission, and Energy Services. The Liquids Pipelines segment operates common carrier and contract crude oil, natural gas liquids (NGL), and refined products pipelines and terminals.
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