Rockport Wealth LLC Invests $208,000 in Enbridge Inc. (NYSE:ENB)

Rockport Wealth LLC acquired a new position in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 5,743 shares of the pipeline company’s stock, valued at approximately $208,000.

Other large investors also recently modified their holdings of the company. BOK Financial Private Wealth Inc. acquired a new stake in Enbridge in the 4th quarter valued at about $25,000. Baystate Wealth Management LLC lifted its stake in Enbridge by 836.4% in the 4th quarter. Baystate Wealth Management LLC now owns 721 shares of the pipeline company’s stock valued at $26,000 after purchasing an additional 644 shares during the last quarter. Tennessee Valley Asset Management Partners acquired a new stake in Enbridge in the 4th quarter valued at about $28,000. Richardson Financial Services Inc. acquired a new stake in Enbridge in the 1st quarter valued at about $31,000. Finally, PFS Partners LLC lifted its stake in Enbridge by 95.8% in the 1st quarter. PFS Partners LLC now owns 922 shares of the pipeline company’s stock valued at $33,000 after purchasing an additional 451 shares during the last quarter. 54.60% of the stock is currently owned by institutional investors and hedge funds.

Enbridge Stock Performance

NYSE:ENB traded down $0.28 during mid-day trading on Tuesday, hitting $36.46. The stock had a trading volume of 4,644,589 shares, compared to its average volume of 5,513,156. Enbridge Inc. has a twelve month low of $31.03 and a twelve month high of $38.37. The stock has a market cap of $79.39 billion, a price-to-earnings ratio of 18.56, a PEG ratio of 3.41 and a beta of 0.92. The company’s 50 day simple moving average is $35.86 and its 200 day simple moving average is $35.62. 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 issued its earnings results on Friday, May 10th. The pipeline company reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.59 by $0.09. Enbridge had a net margin of 13.59% and a return on equity of 10.53%. The business had revenue of $8.19 billion during the quarter, compared to the consensus estimate of $9 billion. On average, equities research analysts forecast that Enbridge Inc. will post 2.14 earnings per share for the current year.

Enbridge Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Saturday, June 1st. Shareholders 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 annualized dividend and a yield of 7.43%. The ex-dividend date of this dividend was Tuesday, May 14th. Enbridge’s dividend payout ratio is currently 136.04%.

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.