Bradley Foster & Sargent Inc. CT Has $19.59 Million Stake in Enbridge Inc. (NYSE:ENB)

Bradley Foster & Sargent Inc. CT decreased its holdings in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 9.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 550,385 shares of the pipeline company’s stock after selling 57,292 shares during the quarter. Bradley Foster & Sargent Inc. CT’s holdings in Enbridge were worth $19,588,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. TruNorth Capital Management LLC acquired a new position in shares of Enbridge in the second quarter valued at approximately $28,000. Ameritas Investment Partners Inc. acquired a new position in shares of Enbridge in the first quarter valued at approximately $29,000. Richardson Financial Services Inc. acquired a new position in shares of Enbridge in the first quarter valued at approximately $31,000. PFS Partners LLC increased its stake in shares of Enbridge by 95.8% in the first quarter. PFS Partners LLC now owns 922 shares of the pipeline company’s stock valued at $33,000 after buying an additional 451 shares during the period. Finally, Northwest Bank & Trust Co acquired a new position in shares of Enbridge in the fourth quarter valued at approximately $34,000. Institutional investors and hedge funds own 54.60% of the company’s stock.

Enbridge Stock Performance

Shares of ENB stock opened at $40.83 on Wednesday. The business’s 50 day simple moving average is $38.52 and its 200 day simple moving average is $36.69. Enbridge Inc. has a one year low of $31.03 and a one year high of $41.22. The stock has a market capitalization of $87.12 billion, a PE ratio of 20.72, a PEG ratio of 3.91 and a beta of 0.94. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.77 and a quick ratio of 0.68.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its earnings results on Friday, August 2nd. The pipeline company reported $0.58 EPS for the quarter, beating the consensus estimate of $0.45 by $0.13. Enbridge had a return on equity of 10.07% and a net margin of 13.31%. The business had revenue of $8.29 billion for the quarter, compared to analysts’ expectations of $4.28 billion. During the same period in the prior year, the business posted $0.51 earnings per share. As a group, research analysts forecast that Enbridge Inc. will post 2.06 earnings per share for the current year.

Enbridge Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Thursday, August 15th were issued a dividend of $0.669 per share. This represents a $2.68 dividend on an annualized basis and a dividend yield of 6.55%. The ex-dividend date of this dividend was Thursday, August 15th. Enbridge’s payout ratio is 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.