Stokes Capital Advisors LLC grew its stake in Enbridge Inc. (NYSE:ENB – Free Report) (TSE:ENB) by 7.8% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 103,076 shares of the pipeline company’s stock after purchasing an additional 7,478 shares during the period. Stokes Capital Advisors LLC’s holdings in Enbridge were worth $3,668,000 at the end of the most recent quarter.
Several other hedge funds have also bought and sold shares of ENB. Sei Investments Co. increased its stake in shares of Enbridge by 6.1% in the 1st quarter. Sei Investments Co. now owns 274,235 shares of the pipeline company’s stock valued at $9,922,000 after purchasing an additional 15,650 shares in the last quarter. State Board of Administration of Florida Retirement System acquired a new position in shares of Enbridge during the 1st quarter worth approximately $1,133,000. Savant Capital LLC lifted its position in shares of Enbridge by 23.1% during the 4th quarter. Savant Capital LLC now owns 21,547 shares of the pipeline company’s stock valued at $776,000 after buying an additional 4,049 shares in the last quarter. CAP Partners LLC acquired a new stake in Enbridge in the 4th quarter valued at $391,000. Finally, Vanguard Group Inc. increased its holdings in Enbridge by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 84,280,486 shares of the pipeline company’s stock worth $3,049,268,000 after acquiring an additional 1,227,031 shares in the last quarter. Hedge funds and other institutional investors own 54.60% of the company’s stock.
Enbridge Price Performance
ENB traded up $0.13 during midday trading on Friday, hitting $38.70. 3,323,491 shares of the company traded hands, compared to its average volume of 5,453,265. The company has a market capitalization of $82.58 billion, a price-to-earnings ratio of 19.64, a PEG ratio of 3.55 and a beta of 0.92. The business has a 50 day simple moving average of $36.43 and a two-hundred day simple moving average of $35.85. 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 Inc. has a 52-week low of $31.03 and a 52-week high of $39.72.
Enbridge Cuts Dividend
The firm also recently announced a quarterly dividend, which will be paid on Sunday, September 1st. Stockholders of record on Thursday, August 15th will be issued a dividend of $0.669 per share. This represents a $2.68 dividend on an annualized basis and a dividend yield of 6.91%. The ex-dividend date is Thursday, August 15th. Enbridge’s payout ratio is 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.
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