Enbridge Inc. (NYSE:ENB) Stock Position Lessened by 1832 Asset Management L.P.

1832 Asset Management L.P. lowered its stake in Enbridge Inc. (NYSE:ENB - Free Report) TSE: ENB by 2.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 35,901,074 shares of the pipeline company's stock after selling 748,505 shares during the period. Enbridge accounts for 1.0% of 1832 Asset Management L.P.'s holdings, making the stock its 5th biggest position. 1832 Asset Management L.P. owned 1.68% of Enbridge worth $1,277,719,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Rockwood Wealth Management LLC lifted its stake in Enbridge by 2.6% during the 2nd quarter. Rockwood Wealth Management LLC now owns 11,107 shares of the pipeline company's stock valued at $395,000 after acquiring an additional 285 shares during the period. Whittier Trust Co. of Nevada Inc. grew its position in Enbridge by 3.7% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 8,269 shares of the pipeline company's stock worth $294,000 after purchasing an additional 298 shares during the period. Nations Financial Group Inc. IA ADV raised its stake in shares of Enbridge by 1.7% during the 2nd quarter. Nations Financial Group Inc. IA ADV now owns 18,237 shares of the pipeline company's stock valued at $649,000 after buying an additional 298 shares during the last quarter. Perigon Wealth Management LLC lifted its holdings in shares of Enbridge by 3.7% in the 1st quarter. Perigon Wealth Management LLC now owns 8,827 shares of the pipeline company's stock valued at $319,000 after buying an additional 314 shares during the period. Finally, RFG Advisory LLC raised its position in shares of Enbridge by 2.3% in the second quarter. RFG Advisory LLC now owns 14,183 shares of the pipeline company's stock worth $505,000 after acquiring an additional 325 shares during the period. 54.60% of the stock is currently owned by institutional investors and hedge funds.

Enbridge Price Performance

ENB stock traded up $0.13 during mid-day trading on Friday, reaching $40.52. 3,648,337 shares of the company's stock were exchanged, compared to its average volume of 5,222,630. 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 company has a market cap of $86.47 billion, a price-to-earnings ratio of 20.57, a price-to-earnings-growth ratio of 3.91 and a beta of 0.94. The stock's 50 day moving average is $38.79 and its 200 day moving average is $36.81. Enbridge Inc. has a 12-month low of $31.03 and a 12-month high of $41.22.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last released its quarterly earnings data on Friday, August 2nd. The pipeline company reported $0.58 EPS for the quarter, beating analysts' consensus estimates of $0.45 by $0.13. Enbridge had a net margin of 13.31% and a return on equity of 10.07%. The company had revenue of $8.29 billion during the quarter, compared to the consensus estimate of $4.28 billion. During the same quarter in the prior year, the firm earned $0.51 EPS. On average, research analysts expect that Enbridge Inc. will post 2.06 EPS for the current year.

Enbridge Cuts Dividend

The business 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 dividend yield of 6.60%. The ex-dividend date was Thursday, August 15th. Enbridge's dividend payout ratio is presently 134.01%.

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.