Enbridge Inc. (NYSE:ENB) Position Increased by Farmers & Merchants Investments Inc.

Farmers & Merchants Investments Inc. raised its position in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 3.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 312,942 shares of the pipeline company’s stock after purchasing an additional 11,385 shares during the quarter. Farmers & Merchants Investments Inc.’s holdings in Enbridge were worth $11,138,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Sei Investments Co. grew its stake in shares of Enbridge by 6.1% in the 1st quarter. Sei Investments Co. now owns 274,235 shares of the pipeline company’s stock valued at $9,922,000 after buying an additional 15,650 shares in the last quarter. State Board of Administration of Florida Retirement System acquired a new position in shares of Enbridge during the 1st quarter worth $1,133,000. CAP Partners LLC bought a new position in shares of Enbridge during the 4th quarter valued at $391,000. Vanguard Group Inc. lifted its stake in shares of Enbridge by 1.5% in 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 purchasing an additional 1,227,031 shares during the last quarter. Finally, Parallel Advisors LLC lifted its stake in shares of Enbridge by 11.0% in the 4th quarter. Parallel Advisors LLC now owns 24,183 shares of the pipeline company’s stock valued at $871,000 after purchasing an additional 2,402 shares during the last quarter. 54.60% of the stock is owned by institutional investors and hedge funds.

Enbridge Stock Up 0.6 %

Enbridge stock traded up $0.26 during mid-day trading on Friday, hitting $40.71. 239,394 shares of the company’s stock were exchanged, compared to its average volume of 5,327,640. Enbridge Inc. has a 1-year low of $31.03 and a 1-year high of $40.81. The stock has a 50 day moving average of $37.71 and a two-hundred day moving average of $36.33. The company has a current ratio of 0.77, a quick ratio of 0.68 and a debt-to-equity ratio of 1.34. The stock has a market cap of $86.87 billion, a P/E ratio of 20.53, a P/E/G ratio of 3.90 and a beta of 0.92.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its earnings results on Friday, August 2nd. The pipeline company reported $0.58 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $4.28 billion. During the same period in the previous year, the company earned $0.51 EPS. As a group, analysts anticipate that Enbridge Inc. will post 2.06 EPS for the current fiscal year.

Enbridge Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Thursday, August 15th were issued a dividend of $0.669 per share. This represents a $2.68 annualized dividend and a dividend yield of 6.57%. The ex-dividend date of this dividend was Thursday, August 15th. Enbridge’s payout ratio 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.