Wedbush Securities Inc. Boosts Holdings in Enbridge Inc. (NYSE:ENB)

Wedbush Securities Inc. grew its holdings in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 11.2% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 50,259 shares of the pipeline company’s stock after acquiring an additional 5,065 shares during the quarter. Wedbush Securities Inc.’s holdings in Enbridge were worth $1,789,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the business. Sei Investments Co. grew its holdings in shares of Enbridge by 6.1% in the first quarter. Sei Investments Co. now owns 274,235 shares of the pipeline company’s stock worth $9,922,000 after purchasing an additional 15,650 shares during the last quarter. State Board of Administration of Florida Retirement System bought a new position in shares of Enbridge in the first quarter worth approximately $1,133,000. CAP Partners LLC bought a new position in shares of Enbridge in the fourth quarter worth approximately $391,000. Vanguard Group Inc. grew its holdings in shares of Enbridge by 1.5% in the first quarter. Vanguard Group Inc. now owns 84,280,486 shares of the pipeline company’s stock worth $3,049,268,000 after purchasing an additional 1,227,031 shares during the last quarter. Finally, Parallel Advisors LLC grew its holdings in shares of Enbridge by 11.0% in the fourth quarter. Parallel Advisors LLC now owns 24,183 shares of the pipeline company’s stock worth $871,000 after purchasing an additional 2,402 shares during the last quarter. 54.60% of the stock is owned by hedge funds and other institutional investors.

Enbridge Stock Up 1.0 %

Shares of Enbridge stock opened at $40.79 on Tuesday. The stock has a market capitalization of $88.82 billion, a price-to-earnings ratio of 20.71, a P/E/G ratio of 3.92 and a beta of 0.93. The company’s 50 day moving average price is $37.92 and its 200-day moving average price is $36.44. Enbridge Inc. has a 52-week low of $31.03 and a 52-week high of $40.81. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.68 and a current ratio of 0.77.

Enbridge (NYSE:ENB) (TSE:ENB) last released 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 business had revenue of $8.29 billion for the quarter, compared to analysts’ expectations of $4.28 billion. Enbridge had a net margin of 13.31% and a return on equity of 10.07%. During the same quarter in the previous year, the business posted $0.51 earnings per share. Equities research analysts forecast that Enbridge Inc. will post 2.06 EPS for the current year.

Enbridge Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Thursday, August 15th were issued a $0.669 dividend. This represents a $2.68 annualized dividend and a yield of 6.56%. The ex-dividend date was Thursday, August 15th. Enbridge’s dividend payout ratio (DPR) is currently 134.01%.

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.