Wealth Dimensions Group Ltd. Sells 688 Shares of Enbridge Inc. (NYSE:ENB)

Wealth Dimensions Group Ltd. lowered its holdings in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 4.1% in the 2nd quarter, HoldingsChannel reports. The firm owned 16,198 shares of the pipeline company’s stock after selling 688 shares during the quarter. Wealth Dimensions Group Ltd.’s holdings in Enbridge were worth $576,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. Rockwood Wealth Management LLC increased its holdings in Enbridge by 2.6% in the second quarter. Rockwood Wealth Management LLC now owns 11,107 shares of the pipeline company’s stock valued at $395,000 after buying an additional 285 shares in the last quarter. Whittier Trust Co. of Nevada Inc. raised its holdings in Enbridge by 3.7% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 8,269 shares of the pipeline company’s stock worth $294,000 after purchasing an additional 298 shares during the period. Nations Financial Group Inc. IA ADV boosted its position in Enbridge by 1.7% during the second quarter. Nations Financial Group Inc. IA ADV now owns 18,237 shares of the pipeline company’s stock worth $649,000 after purchasing an additional 298 shares in the last quarter. Perigon Wealth Management LLC grew its holdings in Enbridge by 3.7% in the first quarter. Perigon Wealth Management LLC now owns 8,827 shares of the pipeline company’s stock valued at $319,000 after purchasing an additional 314 shares during the period. Finally, RFG Advisory LLC increased its position in shares of Enbridge by 2.3% in the second quarter. RFG Advisory LLC now owns 14,183 shares of the pipeline company’s stock valued at $505,000 after buying an additional 325 shares in the last quarter. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Enbridge Trading Up 0.6 %

Shares of NYSE:ENB opened at $40.73 on Monday. The business’s 50 day moving average price is $38.29 and its 200-day moving average price is $36.60. Enbridge Inc. has a 1 year low of $31.03 and a 1 year high of $40.83. The firm has a market capitalization of $88.69 billion, a price-to-earnings ratio of 20.68, a price-to-earnings-growth ratio of 3.91 and a beta of 0.94. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.77 and a quick ratio of 0.68.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings data on Friday, August 2nd. The pipeline company reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.13. The business had revenue of $8.29 billion for the quarter, compared to the consensus estimate of $4.28 billion. Enbridge had a net margin of 13.31% and a return on equity of 10.07%. During the same period last year, the firm posted $0.51 earnings per share. On average, equities research analysts forecast that Enbridge Inc. will post 2.06 earnings per share for the current fiscal year.

Enbridge Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Thursday, August 15th were issued a dividend of $0.669 per share. The ex-dividend date was Thursday, August 15th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 6.57%. Enbridge’s payout ratio is currently 134.01%.

Enbridge Company 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.