Advisors Asset Management Inc. Buys 2,785 Shares of Enbridge Inc. (NYSE:ENB)

Advisors Asset Management Inc. grew its stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 2.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 111,359 shares of the pipeline company’s stock after acquiring an additional 2,785 shares during the quarter. Advisors Asset Management Inc.’s holdings in Enbridge were worth $4,029,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. BOK Financial Private Wealth Inc. bought a new stake in shares of Enbridge in the 4th quarter valued at about $25,000. Baystate Wealth Management LLC increased its stake in Enbridge by 836.4% during the 4th quarter. Baystate Wealth Management LLC now owns 721 shares of the pipeline company’s stock worth $26,000 after purchasing an additional 644 shares in the last quarter. Tennessee Valley Asset Management Partners bought a new stake in Enbridge during the 4th quarter worth approximately $28,000. Ameritas Investment Partners Inc. bought a new stake in Enbridge during the 1st quarter worth approximately $29,000. Finally, Richardson Financial Services Inc. bought a new stake in Enbridge during the 1st quarter worth approximately $31,000. 54.60% of the stock is owned by institutional investors.

Enbridge Stock Up 0.9 %

NYSE ENB traded up $0.34 during trading hours on Friday, reaching $36.67. 3,064,466 shares of the company’s stock were exchanged, compared to its average volume of 5,465,151. The company’s 50-day moving average is $35.83 and its two-hundred day moving average is $35.63. Enbridge Inc. has a one year low of $31.03 and a one year high of $38.37. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.59 and a current ratio of 0.68. The company has a market capitalization of $79.83 billion, a price-to-earnings ratio of 18.44, a price-to-earnings-growth ratio of 3.45 and a beta of 0.92.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its earnings results on Friday, May 10th. The pipeline company reported $0.68 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $9 billion. On average, analysts forecast that Enbridge Inc. will post 2.12 EPS for the current fiscal year.

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.