Morton Community Bank Increases Stake in Enbridge Inc. (NYSE:ENB)

Morton Community Bank increased its holdings in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 4.8% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 73,538 shares of the pipeline company’s stock after purchasing an additional 3,392 shares during the quarter. Morton Community Bank’s holdings in Enbridge were worth $2,617,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. Caprock Group LLC increased its holdings in shares of Enbridge by 72.0% in the second quarter. Caprock Group LLC now owns 35,550 shares of the pipeline company’s stock worth $1,265,000 after buying an additional 14,876 shares during the period. Acadian Asset Management LLC increased its stake in Enbridge by 622.1% in the 2nd quarter. Acadian Asset Management LLC now owns 228,770 shares of the pipeline company’s stock worth $8,139,000 after purchasing an additional 197,089 shares during the period. MainStreet Investment Advisors LLC lifted its position in Enbridge by 0.9% in the second quarter. MainStreet Investment Advisors LLC now owns 87,156 shares of the pipeline company’s stock valued at $3,102,000 after purchasing an additional 753 shares during the last quarter. Strategic Financial Concepts LLC lifted its position in Enbridge by 2,564.6% in the second quarter. Strategic Financial Concepts LLC now owns 266,136 shares of the pipeline company’s stock valued at $95,000 after purchasing an additional 256,148 shares during the last quarter. Finally, Cobblestone Capital Advisors LLC NY boosted its stake in shares of Enbridge by 3.5% during the second quarter. Cobblestone Capital Advisors LLC NY now owns 14,915 shares of the pipeline company’s stock valued at $531,000 after purchasing an additional 510 shares during the period. 54.60% of the stock is owned by institutional investors.

Enbridge Trading Down 0.1 %

Shares of NYSE ENB traded down $0.06 during mid-day trading on Friday, hitting $40.39. The stock had a trading volume of 3,555,744 shares, compared to its average volume of 5,347,496. The business has a 50 day moving average price of $37.81 and a two-hundred day moving average price of $36.39. Enbridge Inc. has a 1 year low of $31.03 and a 1 year high of $40.81. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.68 and a current ratio of 0.77. The firm has a market cap of $86.19 billion, a P/E ratio of 20.50, a price-to-earnings-growth ratio of 3.90 and a beta of 0.94.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings data on Friday, August 2nd. The pipeline company reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.45 by $0.13. The firm had revenue of $8.29 billion for the quarter, compared to analysts’ expectations of $4.28 billion. Enbridge had a net margin of 13.31% and a return on equity of 10.07%. During the same quarter in the previous year, the company earned $0.51 earnings per share. On average, equities analysts anticipate that Enbridge Inc. will post 2.06 EPS for the current fiscal year.

Enbridge Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Thursday, August 15th were given a dividend of $0.669 per share. This represents a $2.68 dividend on an annualized basis and a yield of 6.63%. The ex-dividend date was 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.