Stokes Capital Advisors LLC Buys 9,371 Shares of Enbridge Inc. (NYSE:ENB)

Stokes Capital Advisors LLC increased its stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 10.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 95,598 shares of the pipeline company’s stock after acquiring an additional 9,371 shares during the period. Stokes Capital Advisors LLC’s holdings in Enbridge were worth $3,459,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. BOK Financial Private Wealth Inc. bought a new position in Enbridge during the 4th quarter valued at approximately $25,000. Baystate Wealth Management LLC raised its position in shares of Enbridge by 836.4% in the 4th quarter. Baystate Wealth Management LLC now owns 721 shares of the pipeline company’s stock worth $26,000 after acquiring an additional 644 shares in the last quarter. Tennessee Valley Asset Management Partners bought a new position in shares of Enbridge in the 4th quarter worth approximately $28,000. Financial Gravity Asset Management Inc. raised its position in shares of Enbridge by 2,294.6% in the 3rd quarter. Financial Gravity Asset Management Inc. now owns 886 shares of the pipeline company’s stock worth $29,000 after acquiring an additional 849 shares in the last quarter. Finally, PFS Partners LLC raised its position in shares of Enbridge by 95.8% in the 1st quarter. PFS Partners LLC now owns 922 shares of the pipeline company’s stock worth $33,000 after acquiring an additional 451 shares in the last quarter. Institutional investors own 54.60% of the company’s stock.

Enbridge Stock Up 0.6 %

Shares of Enbridge stock traded up $0.20 during midday trading on Friday, hitting $35.46. The company had a trading volume of 951,262 shares, compared to its average volume of 5,684,292. 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 stock has a market capitalization of $75.67 billion, a P/E ratio of 18.02, a P/E/G ratio of 3.31 and a beta of 0.90. The company has a 50 day moving average of $35.97 and a 200 day moving average of $35.62. Enbridge Inc. has a 52-week low of $31.03 and a 52-week high of $38.37.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its earnings results on Friday, May 10th. The pipeline company reported $0.68 EPS for the quarter, beating the consensus estimate 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. On average, equities analysts predict that Enbridge Inc. will post 2.13 earnings per share for the current fiscal year.

Enbridge Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Saturday, June 1st. Investors of record on Wednesday, May 15th were issued a $0.677 dividend. This is a boost from Enbridge’s previous quarterly dividend of $0.66. This represents a $2.71 dividend on an annualized basis and a yield of 7.64%. The ex-dividend date was Tuesday, May 14th. Enbridge’s dividend payout ratio (DPR) is currently 136.04%.

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.