D.B. Root & Company LLC Has $1.17 Million Holdings in Enbridge Inc. (NYSE:ENB)

D.B. Root & Company LLC cut its position in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 4.4% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 32,241 shares of the pipeline company’s stock after selling 1,480 shares during the quarter. D.B. Root & Company LLC’s holdings in Enbridge were worth $1,166,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. BOK Financial Private Wealth Inc. acquired a new stake in shares of Enbridge during the fourth quarter worth $25,000. Baystate Wealth Management LLC boosted its stake in Enbridge by 836.4% during the fourth quarter. Baystate Wealth Management LLC now owns 721 shares of the pipeline company’s stock worth $26,000 after acquiring an additional 644 shares in the last quarter. Tennessee Valley Asset Management Partners bought a new position in Enbridge during the fourth quarter worth $28,000. Financial Gravity Asset Management Inc. boosted its stake in Enbridge by 2,294.6% during the third quarter. Financial Gravity Asset Management Inc. now owns 886 shares of the pipeline company’s stock worth $29,000 after acquiring an additional 849 shares in the last quarter. Finally, PFS Partners LLC boosted its stake in Enbridge by 95.8% during the first quarter. PFS Partners LLC now owns 922 shares of the pipeline company’s stock worth $33,000 after acquiring an additional 451 shares in the last quarter. 54.60% of the stock is currently owned by institutional investors and hedge funds.

Enbridge Stock Up 0.9 %

NYSE ENB traded up $0.33 on Friday, hitting $35.59. 4,374,256 shares of the company were exchanged, compared to its average volume of 4,628,726. The company has a market cap of $75.95 billion, a PE ratio of 18.07, a PEG ratio of 3.34 and a beta of 0.90. Enbridge Inc. has a 12 month low of $31.03 and a 12 month high of $38.37. The stock has a fifty day moving average of $36.01 and a 200-day moving average of $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.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its earnings results on Friday, May 10th. The pipeline company reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.09. The business had revenue of $8.19 billion for the quarter, compared to analyst estimates of $9 billion. Enbridge had a net margin of 13.59% and a return on equity of 10.53%. As a group, analysts forecast that Enbridge Inc. will post 2.13 earnings per share for the current year.

Enbridge Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Saturday, June 1st. Shareholders of record on Wednesday, May 15th were paid a $0.677 dividend. This represents a $2.71 dividend on an annualized basis and a dividend yield of 7.61%. This is a positive change 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 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.