Thornburg Investment Management Inc. Reduces Position in Enbridge Inc. (NYSE:ENB)

Thornburg Investment Management Inc. lowered its stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 0.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,581,161 shares of the pipeline company’s stock after selling 14,266 shares during the period. Enbridge accounts for 1.8% of Thornburg Investment Management Inc.’s holdings, making the stock its 15th biggest position. Thornburg Investment Management Inc. owned 0.17% of Enbridge worth $127,437,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. TruNorth Capital Management LLC acquired a new position in shares of Enbridge in the second quarter valued at about $28,000. Ameritas Investment Partners Inc. acquired a new position in Enbridge in the 1st quarter worth approximately $29,000. Richardson Financial Services Inc. purchased a new position in Enbridge during the 1st quarter worth approximately $31,000. PFS Partners LLC lifted its stake in Enbridge by 95.8% during the 1st quarter. PFS Partners LLC now owns 922 shares of the pipeline company’s stock valued at $33,000 after acquiring an additional 451 shares during the period. Finally, Northwest Bank & Trust Co acquired a new stake in shares of Enbridge in the fourth quarter worth $34,000. 54.60% of the stock is owned by hedge funds and other institutional investors.

Enbridge Trading Down 0.0 %

NYSE ENB opened at $40.25 on Thursday. Enbridge Inc. has a 1 year low of $31.03 and a 1 year high of $40.83. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.77 and a quick ratio of 0.68. The company has a market capitalization of $85.88 billion, a PE ratio of 20.43, a P/E/G ratio of 3.92 and a beta of 0.94. The company has a fifty day moving average of $38.10 and a 200 day moving average of $36.50.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings results on Friday, August 2nd. The pipeline company reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.13. The company had revenue of $8.29 billion during the quarter, compared to analysts’ expectations of $4.28 billion. Enbridge had a return on equity of 10.07% and a net margin of 13.31%. During the same period last year, the business earned $0.51 earnings per share. Research analysts forecast 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. Investors of record on Thursday, August 15th were paid a $0.669 dividend. The ex-dividend date was Thursday, August 15th. This represents a $2.68 annualized dividend and a dividend yield of 6.65%. 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.