Enbridge Inc. (NYSE:ENB) Shares Sold by Demars Financial Group LLC

Demars Financial Group LLC lowered its position in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 4.7% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 21,173 shares of the pipeline company’s stock after selling 1,050 shares during the quarter. Enbridge makes up approximately 0.4% of Demars Financial Group LLC’s holdings, making the stock its 26th biggest holding. Demars Financial Group LLC’s holdings in Enbridge were worth $754,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in ENB. Tennessee Valley Asset Management Partners acquired a new position in shares of Enbridge in the 4th quarter valued at $28,000. TruNorth Capital Management LLC acquired a new position in shares of Enbridge in the 2nd quarter valued at $28,000. Ameritas Investment Partners Inc. acquired a new position in shares of Enbridge during the 1st quarter valued at $29,000. Richardson Financial Services Inc. acquired a new position in shares of Enbridge during the 1st quarter valued at $31,000. Finally, PFS Partners LLC lifted its holdings in shares of Enbridge by 95.8% during the 1st quarter. PFS Partners LLC now owns 922 shares of the pipeline company’s stock valued at $33,000 after acquiring an additional 451 shares in the last quarter. Institutional investors and hedge funds own 54.60% of the company’s stock.

Enbridge Stock Up 0.3 %

Shares of NYSE:ENB traded up $0.13 during midday trading on Friday, hitting $38.70. 3,323,491 shares of the company’s stock traded hands, compared to its average volume of 5,453,265. 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 cap of $82.58 billion, a PE ratio of 19.64, a P/E/G ratio of 3.55 and a beta of 0.92. The firm’s fifty day moving average price is $36.43 and its two-hundred day moving average price is $35.85. Enbridge Inc. has a twelve month low of $31.03 and a twelve month high of $39.72.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its earnings results on Friday, August 2nd. The pipeline company reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.13. The business had revenue of $8.29 billion for the quarter, compared to analyst estimates of $4.28 billion. Enbridge had a net margin of 13.59% and a return on equity of 10.53%. During the same quarter in the previous year, the business posted $0.51 EPS. On average, equities research analysts anticipate 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. Investors of record on Thursday, August 15th will be issued a dividend of $0.669 per share. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $2.68 annualized dividend and a dividend yield of 6.91%. Enbridge’s payout ratio is 134.01%.

About Enbridge

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.