Enbridge Inc. (NYSE:ENB) Holdings Increased by Kingswood Wealth Advisors LLC

Kingswood Wealth Advisors LLC grew its stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 34.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,479 shares of the pipeline company’s stock after buying an additional 2,407 shares during the quarter. Kingswood Wealth Advisors LLC’s holdings in Enbridge were worth $337,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in ENB. Prime Capital Investment Advisors LLC raised its holdings in shares of Enbridge by 22.2% during the fourth quarter. Prime Capital Investment Advisors LLC now owns 7,406 shares of the pipeline company’s stock valued at $267,000 after acquiring an additional 1,347 shares during the period. Stratos Wealth Partners LTD. grew its position in Enbridge by 1.3% during the fourth quarter. Stratos Wealth Partners LTD. now owns 35,861 shares of the pipeline company’s stock valued at $1,292,000 after purchasing an additional 456 shares in the last quarter. Bleakley Financial Group LLC grew its position in Enbridge by 5.7% during the fourth quarter. Bleakley Financial Group LLC now owns 16,512 shares of the pipeline company’s stock valued at $595,000 after purchasing an additional 892 shares in the last quarter. HBK Sorce Advisory LLC grew its position in Enbridge by 10.5% during the fourth quarter. HBK Sorce Advisory LLC now owns 11,769 shares of the pipeline company’s stock valued at $424,000 after purchasing an additional 1,116 shares in the last quarter. Finally, Sequoia Financial Advisors LLC grew its position in Enbridge by 131.4% during the fourth quarter. Sequoia Financial Advisors LLC now owns 33,118 shares of the pipeline company’s stock valued at $1,193,000 after purchasing an additional 18,806 shares in the last quarter. 54.60% of the stock is currently owned by institutional investors.

Enbridge Stock Performance

Shares of ENB opened at $38.49 on Thursday. The company’s 50 day moving average price is $36.04 and its 200 day moving average price is $35.69. Enbridge Inc. has a 52 week low of $31.03 and a 52 week high of $38.83. The company has a market capitalization of $82.13 billion, a PE ratio of 19.52, a PEG ratio of 3.55 and a beta of 0.92. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.59 and a current 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 EPS for the quarter, beating analysts’ consensus estimates of $0.45 by $0.13. Enbridge had a net margin of 13.59% and a return on equity of 10.53%. The firm had revenue of $8.29 billion for the quarter, compared to the consensus estimate of $4.28 billion. During the same period in the previous year, the firm posted $0.51 earnings per share. Research analysts expect that Enbridge Inc. will post 2.12 EPS for the current fiscal year.

Enbridge Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Sunday, September 1st. Shareholders of record on Thursday, August 15th will be given a $0.669 dividend. This represents a $2.68 annualized dividend and a yield of 6.95%. The ex-dividend date of this dividend is Thursday, August 15th. Enbridge’s dividend payout ratio is 134.01%.

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.