Parsons Capital Management Inc. RI Sells 12,847 Shares of Enbridge Inc. (NYSE:ENB)

Parsons Capital Management Inc. RI decreased its stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 36.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 22,338 shares of the pipeline company’s stock after selling 12,847 shares during the period. Parsons Capital Management Inc. RI’s holdings in Enbridge were worth $795,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Perigon Wealth Management LLC grew its holdings in shares of Enbridge by 3.7% during the 1st 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 last quarter. Fifth Third Bancorp grew its holdings in shares of Enbridge by 0.4% during the 1st quarter. Fifth Third Bancorp now owns 86,751 shares of the pipeline company’s stock valued at $3,139,000 after purchasing an additional 324 shares during the last quarter. RFG Advisory LLC grew its holdings in shares of Enbridge by 2.3% during the 2nd quarter. RFG Advisory LLC now owns 14,183 shares of the pipeline company’s stock valued at $505,000 after purchasing an additional 325 shares during the last quarter. Capital Investment Counsel Inc grew its holdings in shares of Enbridge by 5.2% during the 4th quarter. Capital Investment Counsel Inc now owns 6,564 shares of the pipeline company’s stock valued at $237,000 after purchasing an additional 326 shares during the last quarter. Finally, Checchi Capital Advisers LLC grew its holdings in shares of Enbridge by 2.8% during the 1st quarter. Checchi Capital Advisers LLC now owns 12,506 shares of the pipeline company’s stock valued at $452,000 after purchasing an additional 337 shares during the last quarter. Institutional investors own 54.60% of the company’s stock.

Enbridge Trading Up 0.2 %

Shares of ENB stock traded up $0.06 on Tuesday, hitting $39.19. 175,558 shares of the company’s stock traded hands, compared to its average volume of 5,437,342. The stock has a market capitalization of $83.63 billion, a price-to-earnings ratio of 19.86, a P/E/G ratio of 3.55 and a beta of 0.92. 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’s fifty day simple moving average is $36.50 and its 200 day simple moving average is $35.87. Enbridge Inc. has a one year low of $31.03 and a one year high of $39.72.

Enbridge (NYSE:ENB) (TSE:ENB) last announced 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 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 quarter in the prior year, the company posted $0.51 EPS. Equities analysts forecast that Enbridge Inc. will post 2.12 EPS for the current year.

Enbridge Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Sunday, September 1st. Shareholders of record on Thursday, August 15th will be given a dividend of $0.669 per share. The ex-dividend date is Thursday, August 15th. This represents a $2.68 annualized dividend and a yield of 6.83%. 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.