AdvisorNet Financial Inc Acquires 478 Shares of Enbridge Inc. (NYSE:ENB)

AdvisorNet Financial Inc boosted its holdings in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 7.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,351 shares of the pipeline company’s stock after buying an additional 478 shares during the quarter. AdvisorNet Financial Inc’s holdings in Enbridge were worth $262,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in ENB. Cerity Partners LLC raised its holdings in Enbridge by 41.7% during the 4th quarter. Cerity Partners LLC now owns 132,744 shares of the pipeline company’s stock worth $4,781,000 after purchasing an additional 39,079 shares during the last quarter. Perigon Wealth Management LLC increased its stake in shares of Enbridge by 25.5% in the 4th quarter. Perigon Wealth Management LLC now owns 8,513 shares of the pipeline company’s stock valued at $307,000 after acquiring an additional 1,728 shares in the last quarter. Tennessee Valley Asset Management Partners bought a new stake in shares of Enbridge in the 4th quarter valued at $28,000. Simplicity Solutions LLC increased its stake in shares of Enbridge by 5.7% in the 4th quarter. Simplicity Solutions LLC now owns 16,512 shares of the pipeline company’s stock valued at $595,000 after acquiring an additional 892 shares in the last quarter. Finally, Waldron Private Wealth LLC bought a new stake in shares of Enbridge in the 4th quarter valued at $214,000. Institutional investors own 54.60% of the company’s stock.

Enbridge Trading Down 2.5 %

Shares of NYSE:ENB traded down $0.97 during mid-day trading on Thursday, hitting $38.57. The company had a trading volume of 2,939,107 shares, compared to its average volume of 5,459,422. The firm has a fifty day moving average price of $36.33 and a 200 day moving average price of $35.81. The company has a market capitalization of $82.30 billion, a PE ratio of 20.07, a price-to-earnings-growth ratio of 3.55 and a beta of 0.92. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.68 and a quick ratio of 0.59. Enbridge Inc. has a one year low of $31.03 and a one year high of $39.72.

Enbridge (NYSE:ENB) (TSE:ENB) last released its earnings results on Friday, August 2nd. The pipeline company reported $0.58 EPS for the quarter, topping analysts’ consensus estimates of $0.45 by $0.13. Enbridge had a return on equity of 10.53% and a net margin of 13.59%. The company had revenue of $8.29 billion for the quarter, compared to analysts’ expectations of $4.28 billion. During the same period in the previous year, the business posted $0.51 EPS. As a group, research analysts forecast that Enbridge Inc. will post 2.12 EPS for the current year.

Enbridge Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, September 1st. Stockholders of record on Thursday, August 15th will be paid a dividend of $0.669 per share. This represents a $2.68 dividend on an annualized basis and a dividend yield of 6.94%. The ex-dividend date is Thursday, August 15th. Enbridge’s dividend payout ratio (DPR) is presently 134.01%.

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.