Agate Pass Investment Management LLC Has $1.49 Million Stake in Enbridge Inc. (NYSE:ENB)

Agate Pass Investment Management LLC lowered its stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 3.1% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 41,873 shares of the pipeline company’s stock after selling 1,346 shares during the quarter. Agate Pass Investment Management LLC’s holdings in Enbridge were worth $1,490,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of ENB. Wedmont Private Capital raised its stake in Enbridge by 26.3% during the 2nd quarter. Wedmont Private Capital now owns 7,319 shares of the pipeline company’s stock worth $264,000 after buying an additional 1,526 shares during the period. WASHINGTON TRUST Co increased its holdings in shares of Enbridge by 9.7% during the second quarter. WASHINGTON TRUST Co now owns 6,141 shares of the pipeline company’s stock valued at $219,000 after acquiring an additional 542 shares in the last quarter. Voisard Asset Management Group Inc. raised its position in shares of Enbridge by 68.7% during the second quarter. Voisard Asset Management Group Inc. now owns 3,037 shares of the pipeline company’s stock worth $108,000 after purchasing an additional 1,237 shares during the period. FLC Capital Advisors raised its position in shares of Enbridge by 3.9% during the second quarter. FLC Capital Advisors now owns 90,306 shares of the pipeline company’s stock worth $3,214,000 after purchasing an additional 3,406 shares during the period. Finally, Dynamic Advisor Solutions LLC lifted its holdings in shares of Enbridge by 2.7% in the 2nd quarter. Dynamic Advisor Solutions LLC now owns 51,781 shares of the pipeline company’s stock worth $1,843,000 after purchasing an additional 1,349 shares in the last quarter. Institutional investors and hedge funds own 54.60% of the company’s stock.

Enbridge Stock Up 0.8 %

ENB stock traded up $0.33 during midday trading on Tuesday, reaching $39.38. 4,965,174 shares of the company’s stock traded hands, compared to its average volume of 5,461,249. The company has a quick ratio of 0.59, a current ratio of 0.68 and a debt-to-equity ratio of 1.35. The firm’s fifty day moving average price is $36.19 and its 200-day moving average price is $35.75. Enbridge Inc. has a 52 week low of $31.03 and a 52 week high of $39.49. The company has a market cap of $84.02 billion, a price-to-earnings ratio of 20.03, a P/E/G ratio of 3.55 and a beta of 0.92.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its 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. Enbridge had a net margin of 13.59% and a return on equity of 10.53%. The company had revenue of $8.29 billion during the quarter, compared to the consensus estimate of $4.28 billion. During the same period in the previous year, the firm posted $0.51 earnings per share. As a group, sell-side analysts forecast that Enbridge Inc. will post 2.12 earnings per share for the current fiscal year.

Enbridge Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, September 1st. Stockholders of record on Thursday, August 15th will be paid a $0.669 dividend. This represents a $2.68 annualized dividend and a dividend yield of 6.80%. The ex-dividend date is Thursday, August 15th. Enbridge’s dividend payout ratio (DPR) is presently 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.