Cobblestone Capital Advisors LLC NY Raises Holdings in Enbridge Inc. (NYSE:ENB)

Cobblestone Capital Advisors LLC NY boosted its stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 3.5% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 14,915 shares of the pipeline company’s stock after acquiring an additional 510 shares during the quarter. Cobblestone Capital Advisors LLC NY’s holdings in Enbridge were worth $531,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. Canoe Financial LP lifted its stake in Enbridge by 80,631.1% during the fourth quarter. Canoe Financial LP now owns 33,460,611 shares of the pipeline company’s stock worth $1,205,251,000 after purchasing an additional 33,419,164 shares in the last quarter. Norges Bank purchased a new position in Enbridge during the 4th quarter valued at about $714,662,000. TD Asset Management Inc grew its position in 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 in the last quarter. M&G Plc acquired a new position in Enbridge in the 1st quarter valued at about $152,843,000. Finally, Canada Pension Plan Investment Board increased its stake in Enbridge by 66.9% during the first quarter. Canada Pension Plan Investment Board now owns 9,044,864 shares of the pipeline company’s stock worth $327,172,000 after purchasing an additional 3,624,089 shares during the period. 54.60% of the stock is currently owned by institutional investors and hedge funds.

Enbridge Stock Down 0.1 %

Shares of ENB stock traded down $0.06 during trading on Friday, reaching $40.39. The company’s stock had a trading volume of 3,555,744 shares, compared to its average volume of 5,347,496. Enbridge Inc. has a 1-year low of $31.03 and a 1-year high of $40.81. The stock’s 50-day moving average price is $37.81 and its 200 day moving average price is $36.37. The company has a market capitalization of $86.19 billion, a price-to-earnings ratio of 20.50, a P/E/G ratio of 3.90 and a beta of 0.94. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.77 and a quick ratio of 0.68.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings data on Friday, August 2nd. The pipeline company reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.13. Enbridge had a return on equity of 10.07% and a net margin of 13.31%. The business had revenue of $8.29 billion for the quarter, compared to analysts’ expectations of $4.28 billion. During the same period last year, the firm earned $0.51 earnings per share. On average, research analysts anticipate that Enbridge Inc. will post 2.06 EPS for the current year.

Enbridge Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Thursday, August 15th were issued a $0.669 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $2.68 annualized dividend and a yield of 6.63%. Enbridge’s dividend payout ratio (DPR) is 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.