Enbridge Inc. (NYSE:ENB) Shares Sold by Beverly Hills Private Wealth LLC

Beverly Hills Private Wealth LLC reduced its stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 3.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 21,707 shares of the pipeline company’s stock after selling 865 shares during the quarter. Beverly Hills Private Wealth LLC’s holdings in Enbridge were worth $773,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Dimensional Fund Advisors LP raised its position in shares of Enbridge by 3.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,348,064 shares of the pipeline company’s stock worth $84,578,000 after acquiring an additional 72,129 shares during the period. Vise Technologies Inc. increased its stake in shares of Enbridge by 17.3% in the 4th quarter. Vise Technologies Inc. now owns 7,058 shares of the pipeline company’s stock valued at $254,000 after purchasing an additional 1,040 shares in the last quarter. Beacon Pointe Advisors LLC raised its holdings in Enbridge by 37.2% in the 4th quarter. Beacon Pointe Advisors LLC now owns 361,487 shares of the pipeline company’s stock worth $13,021,000 after purchasing an additional 98,067 shares during the period. Meridian Wealth Management LLC boosted its position in Enbridge by 3.7% during the fourth quarter. Meridian Wealth Management LLC now owns 18,190 shares of the pipeline company’s stock worth $656,000 after purchasing an additional 644 shares in the last quarter. Finally, Montrusco Bolton Investments Inc. grew its holdings in Enbridge by 25.2% in the fourth quarter. Montrusco Bolton Investments Inc. now owns 2,507,775 shares of the pipeline company’s stock valued at $90,718,000 after purchasing an additional 504,265 shares during the period. 54.60% of the stock is owned by institutional investors and hedge funds.

Enbridge Stock Up 0.6 %

Enbridge stock opened at $40.48 on Friday. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.77 and a quick ratio of 0.68. The stock has a market capitalization of $86.38 billion, a PE ratio of 20.55, a price-to-earnings-growth ratio of 3.92 and a beta of 0.94. The business has a 50 day simple moving average of $38.19 and a 200-day simple moving average of $36.53. Enbridge Inc. has a 12 month low of $31.03 and a 12 month high of $40.83.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings results on Friday, August 2nd. The pipeline company reported $0.58 EPS for the quarter, topping the consensus estimate of $0.45 by $0.13. The company had revenue of $8.29 billion during the quarter, compared to analyst estimates 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 firm earned $0.51 EPS. On average, analysts anticipate that Enbridge Inc. will post 2.06 EPS for the current fiscal year.

Enbridge Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Thursday, August 15th were paid a dividend of $0.669 per share. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 6.61%. Enbridge’s dividend payout ratio is currently 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.