1,648 Shares in Enbridge Inc. (NYSE:ENB) Bought by Hobbs Group Advisors LLC

Hobbs Group Advisors LLC bought a new position in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 1,648 shares of the pipeline company’s stock, valued at approximately $59,000.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in Enbridge by 1.5% in the first quarter. Vanguard Group Inc. now owns 84,280,486 shares of the pipeline company’s stock valued at $3,049,268,000 after purchasing an additional 1,227,031 shares during the last quarter. TD Asset Management Inc raised its holdings in Enbridge by 0.9% in the 1st quarter. TD Asset Management Inc now owns 38,087,489 shares of the pipeline company’s stock valued at $1,377,708,000 after buying an additional 337,729 shares during the last quarter. 1832 Asset Management L.P. raised its holdings in Enbridge by 3.9% in the 1st quarter. 1832 Asset Management L.P. now owns 36,649,579 shares of the pipeline company’s stock valued at $1,325,982,000 after buying an additional 1,360,439 shares during the last quarter. Canoe Financial LP boosted 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 worth $1,205,251,000 after buying an additional 33,419,164 shares during the period. Finally, Bank of Nova Scotia grew its holdings in Enbridge by 6.8% during the 4th quarter. Bank of Nova Scotia now owns 29,995,342 shares of the pipeline company’s stock worth $1,079,833,000 after acquiring an additional 1,910,302 shares during the last quarter. Institutional investors own 54.60% of the company’s stock.

Enbridge Trading Down 0.2 %

Shares of ENB stock traded down $0.08 on Tuesday, hitting $39.05. The company had a trading volume of 5,437,808 shares, compared to its average volume of 5,470,231. The stock’s 50-day moving average is $36.50 and its two-hundred day moving average is $35.87. 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 firm has a market cap of $83.33 billion, a P/E ratio of 19.87, a P/E/G ratio of 3.55 and a beta of 0.92. Enbridge Inc. has a twelve month low of $31.03 and a twelve month high of $39.72.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings data on Friday, August 2nd. The pipeline company reported $0.58 earnings per share for the quarter, topping 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 net margin of 13.59% and a return on equity of 10.53%. During the same period in the prior year, the company posted $0.51 earnings per share. On average, equities research analysts anticipate that Enbridge Inc. will post 2.12 earnings per share for the current fiscal year.

Enbridge Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, September 1st. Stockholders of record on Thursday, August 15th will be given a dividend of $0.669 per share. This represents a $2.68 annualized dividend and a dividend yield of 6.85%. The ex-dividend date is Thursday, August 15th. Enbridge’s dividend payout ratio (DPR) is 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.