Richardson Financial Services Inc. Has $45,000 Holdings in Enbridge Inc. (NYSE:ENB)

Richardson Financial Services Inc. lifted its stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 28.4% during the 3rd quarter, HoldingsChannel reports. The fund owned 1,112 shares of the pipeline company’s stock after buying an additional 246 shares during the period. Richardson Financial Services Inc.’s holdings in Enbridge were worth $45,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of Enbridge by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 84,280,486 shares of the pipeline company’s stock worth $3,049,268,000 after acquiring an additional 1,227,031 shares during the period. TD Asset Management Inc raised its stake in shares of Enbridge by 0.9% in the 1st quarter. TD Asset Management Inc now owns 38,087,489 shares of the pipeline company’s stock valued at $1,377,708,000 after buying an additional 337,729 shares in the last quarter. 1832 Asset Management L.P. lifted its holdings in shares of Enbridge by 3.9% during the 1st quarter. 1832 Asset Management L.P. now owns 36,649,579 shares of the pipeline company’s stock worth $1,325,982,000 after acquiring an additional 1,360,439 shares during the period. Cibc World Market Inc. boosted its position in shares of Enbridge by 12.8% during the 2nd quarter. Cibc World Market Inc. now owns 32,531,675 shares of the pipeline company’s stock valued at $1,157,802,000 after acquiring an additional 3,693,495 shares in the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC raised its position in Enbridge by 3.7% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 23,083,951 shares of the pipeline company’s stock worth $821,331,000 after purchasing an additional 827,540 shares in the last quarter. Institutional investors own 54.60% of the company’s stock.

Enbridge Price Performance

ENB stock traded down $0.19 during trading on Friday, hitting $40.94. 3,119,480 shares of the stock traded hands, compared to its average volume of 2,646,088. The stock has a market cap of $89.16 billion, a price-to-earnings ratio of 21.32, a P/E/G ratio of 4.00 and a beta of 0.93. Enbridge Inc. has a one year low of $31.31 and a one year high of $42.16. The company has a current ratio of 0.77, a quick ratio of 0.68 and a debt-to-equity ratio of 1.34. The company has a 50 day simple moving average of $40.60 and a 200 day simple moving average of $37.74.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings data on Friday, August 2nd. The pipeline company reported $0.58 earnings per share 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 company had revenue of $8.29 billion during the quarter, compared to analyst estimates of $4.28 billion. During the same quarter last year, the business posted $0.51 earnings per share. Equities analysts expect that Enbridge Inc. will post 2.08 EPS for the current fiscal year.

Enbridge Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Thursday, August 15th were issued a $0.669 dividend. The ex-dividend date was Thursday, August 15th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 6.54%. Enbridge’s dividend payout ratio is 137.50%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Jefferies Financial Group downgraded Enbridge from a “buy” rating to a “hold” rating in a report on Monday, September 30th. Morgan Stanley initiated coverage on Enbridge in a research note on Friday. They issued an “equal weight” rating on the stock.

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.