Ashton Thomas Private Wealth LLC Sells 360 Shares of Enbridge Inc. (NYSE:ENB)

Ashton Thomas Private Wealth LLC reduced its holdings in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 1.4% in the first quarter, according to its most recent filing with the SEC. The fund owned 24,564 shares of the pipeline company’s stock after selling 360 shares during the period. Ashton Thomas Private Wealth LLC’s holdings in Enbridge were worth $889,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of ENB. Canoe Financial LP raised its position in Enbridge by 80,631.1% during the 4th quarter. Canoe Financial LP now owns 33,460,611 shares of the pipeline company’s stock valued at $1,205,251,000 after purchasing an additional 33,419,164 shares in the last quarter. Wellington Management Group LLP raised its position in Enbridge by 630.3% during the 3rd quarter. Wellington Management Group LLP now owns 32,531,108 shares of the pipeline company’s stock valued at $1,083,938,000 after purchasing an additional 28,076,386 shares in the last quarter. Norges Bank purchased a new position in shares of Enbridge in the 4th quarter valued at $714,662,000. TD Asset Management Inc increased its holdings in shares of Enbridge by 24.9% in the 4th quarter. TD Asset Management Inc now owns 37,749,760 shares of the pipeline company’s stock valued at $1,365,583,000 after acquiring an additional 7,536,678 shares during the period. Finally, Vanguard Group Inc. increased its holdings in shares of Enbridge by 5.7% in the 3rd quarter. Vanguard Group Inc. now owns 81,491,857 shares of the pipeline company’s stock valued at $2,704,715,000 after acquiring an additional 4,400,848 shares during the period. 54.60% of the stock is owned by institutional investors.

Enbridge Stock Down 0.4 %

Shares of NYSE:ENB traded down $0.13 on Friday, reaching $35.76. The company had a trading volume of 738,989 shares, compared to its average volume of 5,621,789. Enbridge Inc. has a 52-week low of $31.03 and a 52-week high of $38.37. The firm’s 50 day simple moving average is $36.01 and its 200-day simple moving average is $35.64. The firm has a market capitalization of $76.31 billion, a PE ratio of 18.15, a PEG ratio of 3.36 and a beta of 0.92. The company has a current ratio of 0.68, a quick ratio of 0.59 and a debt-to-equity ratio of 1.35.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings results on Friday, May 10th. The pipeline company reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.59 by $0.09. Enbridge had a return on equity of 10.53% and a net margin of 13.59%. The business had revenue of $8.19 billion for the quarter, compared to the consensus estimate of $9 billion. As a group, analysts expect that Enbridge Inc. will post 2.13 earnings per share for the current fiscal year.

Enbridge Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Saturday, June 1st. Investors of record on Wednesday, May 15th were paid a dividend of $0.677 per share. This represents a $2.71 annualized dividend and a yield of 7.57%. This is an increase from Enbridge’s previous quarterly dividend of $0.66. The ex-dividend date of this dividend was Tuesday, May 14th. Enbridge’s payout ratio is 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.