Enbridge Inc. (NYSE:ENB) Shares Sold by Mission Wealth Management LP

Mission Wealth Management LP cut its position in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 15.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,874 shares of the pipeline company’s stock after selling 1,803 shares during the period. Mission Wealth Management LP’s holdings in Enbridge were worth $357,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in ENB. Qube Research & Technologies Ltd lifted its stake in shares of Enbridge by 4.5% in the third quarter. Qube Research & Technologies Ltd now owns 94,966 shares of the pipeline company’s stock worth $3,152,000 after buying an additional 4,120 shares in the last quarter. Seven Eight Capital LP purchased a new stake in shares of Enbridge in the third quarter valued at approximately $657,000. Baker Avenue Asset Management LP increased its holdings in shares of Enbridge by 422.7% in the third quarter. Baker Avenue Asset Management LP now owns 2,943 shares of the pipeline company’s stock valued at $98,000 after purchasing an additional 2,380 shares during the last quarter. Toroso Investments LLC lifted its position in Enbridge by 16.3% during the third quarter. Toroso Investments LLC now owns 41,829 shares of the pipeline company’s stock worth $1,388,000 after buying an additional 5,864 shares in the last quarter. Finally, Townsquare Capital LLC boosted its stake in Enbridge by 0.7% during the third quarter. Townsquare Capital LLC now owns 236,539 shares of the pipeline company’s stock worth $7,897,000 after buying an additional 1,686 shares during the last quarter. 54.60% of the stock is currently owned by hedge funds and other institutional investors.

Enbridge Trading Down 0.8 %

Shares of ENB traded down $0.28 during midday trading on Friday, reaching $35.61. The company had a trading volume of 2,954,530 shares, compared to its average volume of 4,167,967. Enbridge Inc. has a 1-year low of $31.03 and a 1-year high of $38.37. The company has a quick ratio of 0.59, a current ratio of 0.68 and a debt-to-equity ratio of 1.35. The firm has a 50 day simple moving average of $36.01 and a 200-day simple moving average of $35.64. The stock has a market cap of $75.99 billion, a PE ratio of 18.08, a price-to-earnings-growth ratio of 3.36 and a beta of 0.92.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings data on Friday, May 10th. The pipeline company reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.09. Enbridge had a net margin of 13.59% and a return on equity of 10.53%. The firm had revenue of $8.19 billion during the quarter, compared to analysts’ expectations of $9 billion. Research analysts forecast that Enbridge Inc. will post 2.13 EPS for the current fiscal year.

Enbridge Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Saturday, June 1st. Investors of record on Wednesday, May 15th were given a $0.677 dividend. This represents a $2.71 annualized dividend and a yield of 7.60%. This is a positive change from Enbridge’s previous quarterly dividend of $0.66. The ex-dividend date was Tuesday, May 14th. Enbridge’s dividend payout ratio is presently 136.04%.

Enbridge 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.