Procyon Advisors LLC Boosts Stock Position in Enbridge Inc. (NYSE:ENB)

Procyon Advisors LLC boosted its holdings in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 38.2% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 98,465 shares of the pipeline company’s stock after purchasing an additional 27,236 shares during the quarter. Procyon Advisors LLC’s holdings in Enbridge were worth $3,562,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Viking Fund Management LLC increased its holdings in shares of Enbridge by 2.5% in the 1st quarter. Viking Fund Management LLC now owns 329,000 shares of the pipeline company’s stock valued at $11,903,000 after acquiring an additional 8,000 shares during the last quarter. PFS Partners LLC increased its holdings in shares of Enbridge by 95.8% in the 1st quarter. PFS Partners LLC now owns 922 shares of the pipeline company’s stock valued at $33,000 after acquiring an additional 451 shares during the last quarter. Agate Pass Investment Management LLC increased its holdings in shares of Enbridge by 1.5% in the 1st quarter. Agate Pass Investment Management LLC now owns 43,219 shares of the pipeline company’s stock valued at $1,564,000 after acquiring an additional 652 shares during the last quarter. Wealthcare Advisory Partners LLC increased its holdings in shares of Enbridge by 7.1% in the 1st quarter. Wealthcare Advisory Partners LLC now owns 7,960 shares of the pipeline company’s stock valued at $288,000 after acquiring an additional 530 shares during the last quarter. Finally, Key Client Fiduciary Advisors LLC bought a new stake in shares of Enbridge in the 1st quarter valued at approximately $207,000. 54.60% of the stock is currently owned by hedge funds and other institutional investors.

Enbridge Stock Performance

ENB traded down $0.08 during trading on Thursday, reaching $35.26. 2,960,912 shares of the company were exchanged, compared to its average volume of 5,718,373. The stock has a market cap of $74.97 billion, a P/E ratio of 17.93, a PEG ratio of 3.28 and a beta of 0.90. The firm has a 50 day moving average of $35.97 and a 200 day moving average of $35.62. The company has a current ratio of 0.68, a quick ratio of 0.59 and a debt-to-equity ratio of 1.35. Enbridge Inc. has a 52 week low of $31.03 and a 52 week high of $38.37.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings data on Friday, May 10th. The pipeline company reported $0.68 EPS for the quarter, topping analysts’ consensus estimates of $0.59 by $0.09. The firm had revenue of $8.19 billion during the quarter, compared to the consensus estimate of $9 billion. Enbridge had a return on equity of 10.53% and a net margin of 13.59%. On average, sell-side analysts forecast that Enbridge Inc. will post 2.13 EPS for the current fiscal year.

Enbridge Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Saturday, June 1st. Investors of record on Wednesday, May 15th were paid a dividend of $0.677 per share. This is an increase from Enbridge’s previous quarterly dividend of $0.66. This represents a $2.71 dividend on an annualized basis and a yield of 7.68%. The ex-dividend date was Tuesday, May 14th. Enbridge’s dividend payout ratio is presently 136.04%.

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.