Varma Mutual Pension Insurance Co Has $26.96 Million Holdings in Enbridge Inc. (NYSE:ENB)

Varma Mutual Pension Insurance Co cut its holdings in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 0.4% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 757,861 shares of the pipeline company’s stock after selling 3,239 shares during the period. Varma Mutual Pension Insurance Co’s holdings in Enbridge were worth $26,956,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in shares of Enbridge by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 84,280,486 shares of the pipeline company’s stock valued at $3,049,268,000 after acquiring an additional 1,227,031 shares during the last quarter. TD Asset Management Inc raised its position in shares of Enbridge by 0.9% in the first quarter. TD Asset Management Inc now owns 38,087,489 shares of the pipeline company’s stock valued at $1,377,708,000 after purchasing an additional 337,729 shares during the period. 1832 Asset Management L.P. raised its position in shares of Enbridge by 3.9% in the first quarter. 1832 Asset Management L.P. now owns 36,649,579 shares of the pipeline company’s stock valued at $1,325,982,000 after purchasing an additional 1,360,439 shares during the period. Bank of Nova Scotia lifted its stake in shares of Enbridge by 6.8% in the fourth quarter. Bank of Nova Scotia now owns 29,995,342 shares of the pipeline company’s stock worth $1,079,833,000 after buying an additional 1,910,302 shares during the last quarter. Finally, CIBC Asset Management Inc boosted its holdings in shares of Enbridge by 7.9% during the 4th quarter. CIBC Asset Management Inc now owns 22,358,849 shares of the pipeline company’s stock worth $807,469,000 after buying an additional 1,641,245 shares during the period. 54.60% of the stock is owned by institutional investors and hedge funds.

Enbridge Stock Performance

ENB traded down $0.06 during 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 company has a current ratio of 0.77, a quick ratio of 0.68 and a debt-to-equity ratio of 1.34. Enbridge Inc. has a 12 month low of $31.03 and a 12 month high of $40.81. The company has a 50 day simple moving average of $37.81 and a 200-day simple moving average of $36.39. The firm has a market cap of $86.19 billion, a PE ratio of 20.50, a P/E/G ratio of 3.90 and a beta of 0.94.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings data on Friday, August 2nd. The pipeline company reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.13. Enbridge had a net margin of 13.31% and a return on equity of 10.07%. The business had revenue of $8.29 billion for the quarter, compared to the consensus estimate of $4.28 billion. During the same quarter last year, the company posted $0.51 earnings per share. Analysts expect that Enbridge Inc. will post 2.06 EPS for the current year.

Enbridge Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Thursday, August 15th were issued a $0.669 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $2.68 annualized dividend and a yield of 6.63%. Enbridge’s dividend payout ratio (DPR) is 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.