Enbridge Inc. (NYSE:ENB) Shares Acquired by Principal Financial Group Inc.

Principal Financial Group Inc. grew its holdings in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 151.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 43,461 shares of the pipeline company’s stock after purchasing an additional 26,185 shares during the period. Principal Financial Group Inc.’s holdings in Enbridge were worth $1,572,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also modified their holdings of ENB. BOK Financial Private Wealth Inc. acquired a new position in Enbridge during the 4th quarter worth about $25,000. Baystate Wealth Management LLC raised its position in Enbridge by 836.4% in the 4th quarter. Baystate Wealth Management LLC now owns 721 shares of the pipeline company’s stock valued at $26,000 after purchasing an additional 644 shares in the last quarter. Tennessee Valley Asset Management Partners acquired a new stake in Enbridge in the 4th quarter valued at about $28,000. Financial Gravity Asset Management Inc. raised its position in Enbridge by 2,294.6% in the 3rd quarter. Financial Gravity Asset Management Inc. now owns 886 shares of the pipeline company’s stock valued at $29,000 after purchasing an additional 849 shares in the last quarter. Finally, PFS Partners LLC raised its position in 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 purchasing an additional 451 shares in the last quarter. Institutional investors and hedge funds own 54.60% of the company’s stock.

Enbridge Stock Down 0.4 %

ENB stock traded down $0.15 during mid-day trading on Friday, reaching $35.74. The company had a trading volume of 1,020,629 shares, compared to its average volume of 5,623,989. 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 has a market capitalization of $76.27 billion, a price-to-earnings ratio of 18.15, a price-to-earnings-growth ratio of 3.36 and a beta of 0.92. The firm has a fifty day simple moving average of $36.01 and a 200 day simple moving average of $35.64. Enbridge Inc. has a fifty-two week low of $31.03 and a fifty-two week high of $38.37.

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

Enbridge Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Saturday, June 1st. Stockholders of record on Wednesday, May 15th were issued a $0.677 dividend. The ex-dividend date was Tuesday, May 14th. This represents a $2.71 dividend on an annualized basis and a dividend yield of 7.58%. This is an increase from Enbridge’s previous quarterly dividend of $0.66. Enbridge’s dividend payout ratio 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.