S.E.E.D. Planning Group LLC Increases Stake in Enbridge Inc. (NYSE:ENB)

S.E.E.D. Planning Group LLC raised its holdings in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 7.6% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 247,091 shares of the pipeline company’s stock after buying an additional 17,428 shares during the quarter. Enbridge comprises 3.3% of S.E.E.D. Planning Group LLC’s investment portfolio, making the stock its 10th largest position. S.E.E.D. Planning Group LLC’s holdings in Enbridge were worth $8,940,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in ENB. Canoe Financial LP boosted 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 acquiring an additional 33,419,164 shares in the last quarter. Wellington Management Group LLP raised its position in shares of Enbridge by 630.3% in the 3rd quarter. Wellington Management Group LLP now owns 32,531,108 shares of the pipeline company’s stock worth $1,083,938,000 after purchasing an additional 28,076,386 shares during the last quarter. Norges Bank purchased a new stake in Enbridge during the 4th quarter valued at about $714,662,000. TD Asset Management Inc grew its holdings in shares of Enbridge by 24.9% during the fourth quarter. TD Asset Management Inc now owns 37,749,760 shares of the pipeline company’s stock valued at $1,365,583,000 after buying an additional 7,536,678 shares during the last quarter. Finally, Vanguard Group Inc. increased its position in shares of Enbridge by 5.7% during the third quarter. Vanguard Group Inc. now owns 81,491,857 shares of the pipeline company’s stock valued at $2,704,715,000 after acquiring an additional 4,400,848 shares in the last quarter. 54.60% of the stock is owned by hedge funds and other institutional investors.

Enbridge Stock Up 0.9 %

ENB traded up $0.33 during trading on Friday, hitting $35.59. 4,374,256 shares of the company’s stock traded hands, compared to its average volume of 4,628,726. Enbridge Inc. has a 12-month low of $31.03 and a 12-month high of $38.37. The company’s 50 day simple moving average is $36.01 and its two-hundred day simple moving average is $35.63. The company has a current ratio of 0.68, a quick ratio of 0.59 and a debt-to-equity ratio of 1.35. The stock has a market capitalization of $75.95 billion, a price-to-earnings ratio of 18.07, a PEG ratio of 3.31 and a beta of 0.90.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings data on Friday, May 10th. The pipeline company reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.09. The firm had revenue of $8.19 billion during the quarter, compared to analysts’ expectations of $9 billion. Enbridge had a net margin of 13.59% and a return on equity of 10.53%. Analysts predict that Enbridge Inc. will post 2.13 earnings per share for the current fiscal year.

Enbridge Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Saturday, June 1st. Shareholders of record on Wednesday, May 15th were given a $0.677 dividend. This represents a $2.71 annualized dividend and a yield of 7.61%. This is a boost from Enbridge’s previous quarterly dividend of $0.66. The ex-dividend date of this dividend was Tuesday, May 14th. Enbridge’s dividend payout ratio (DPR) is presently 136.04%.

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.