Virginia Retirement Systems ET AL decreased its stake in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 11.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 98,800 shares of the pipeline company’s stock after selling 13,000 shares during the period. Virginia Retirement Systems ET AL’s holdings in Enbridge were worth $3,576,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently made changes to their positions in ENB. Comerica Securities Inc. bought a new stake in Enbridge in the 4th quarter worth $211,000. Dimensional Fund Advisors LP grew its holdings in Enbridge by 3.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 936,495 shares of the pipeline company’s stock worth $29,106,000 after acquiring an additional 29,232 shares during the last quarter. Two Sigma Advisers LP bought a new stake in Enbridge in the 4th quarter worth $1,662,000. FMR LLC grew its holdings in Enbridge by 15.5% in the 4th quarter. FMR LLC now owns 3,076,023 shares of the pipeline company’s stock worth $95,557,000 after acquiring an additional 411,905 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in Enbridge by 35.2% in the 4th quarter. Geode Capital Management LLC now owns 1,694,727 shares of the pipeline company’s stock worth $52,840,000 after acquiring an additional 441,076 shares during the last quarter. 55.19% of the stock is currently owned by hedge funds and other institutional investors.
In other Enbridge news, insider Albert Monaco purchased 7,848 shares of the stock in a transaction that occurred on Wednesday, June 5th. The stock was bought at an average cost of $49.81 per share, with a total value of $390,908.88. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.42% of the company’s stock.
Shares of ENB traded down $0.15 during trading hours on Friday, reaching $33.79. 1,279,868 shares of the company traded hands, compared to its average volume of 2,769,550. The firm has a fifty day moving average price of $35.19. The stock has a market cap of $68.32 billion, a P/E ratio of 16.48, a price-to-earnings-growth ratio of 2.57 and a beta of 0.59. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.63 and a quick ratio of 0.56. Enbridge Inc has a 12 month low of $28.82 and a 12 month high of $38.04.
Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings results on Friday, August 2nd. The pipeline company reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $0.08. Enbridge had a net margin of 9.97% and a return on equity of 8.16%. The company had revenue of $9.92 billion during the quarter. Equities analysts anticipate that Enbridge Inc will post 1.9 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Sunday, September 1st. Investors of record on Thursday, August 15th will be given a dividend of $0.559 per share. This is a boost from Enbridge’s previous quarterly dividend of $0.52. This represents a $2.24 dividend on an annualized basis and a yield of 6.62%. The ex-dividend date is Wednesday, August 14th. Enbridge’s dividend payout ratio (DPR) is 106.83%.
Enbridge Inc operates as an energy infrastructure company in Canada and the United States. The company operates through five segments: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution, Green Power and Transmission, and Energy Services. The Liquids Pipelines segment operates common carrier and contract crude oil, natural gas liquids (NGL), and refined products pipelines and terminals.
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