Hantz Financial Services Inc. Makes New $8.56 Million Investment in Enbridge Inc. (NYSE:ENB)

Hantz Financial Services Inc. bought a new position in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 240,480 shares of the pipeline company’s stock, valued at approximately $8,559,000.

Several other institutional investors have also recently made changes to their positions in the stock. Sumitomo Mitsui DS Asset Management Company Ltd bought a new position in shares of Enbridge in the second quarter worth $727,000. Signaturefd LLC increased its holdings in shares of Enbridge by 1.9% in the second quarter. Signaturefd LLC now owns 39,439 shares of the pipeline company’s stock worth $1,404,000 after purchasing an additional 728 shares during the period. KCM Investment Advisors LLC increased its holdings in shares of Enbridge by 5.9% in the second quarter. KCM Investment Advisors LLC now owns 9,094 shares of the pipeline company’s stock worth $324,000 after purchasing an additional 509 shares during the period. Callahan Advisors LLC increased its holdings in shares of Enbridge by 22.7% in the second quarter. Callahan Advisors LLC now owns 96,761 shares of the pipeline company’s stock worth $3,444,000 after purchasing an additional 17,885 shares during the period. Finally, Nations Financial Group Inc. IA ADV increased its holdings in shares of Enbridge by 1.7% in the second quarter. Nations Financial Group Inc. IA ADV now owns 18,237 shares of the pipeline company’s stock worth $649,000 after purchasing an additional 298 shares during the period. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Enbridge Trading Up 1.6 %

Enbridge stock opened at $40.18 on Friday. The stock has a market cap of $87.49 billion, a P/E ratio of 20.40, a PEG ratio of 3.90 and a beta of 0.92. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.68 and a current ratio of 0.77. Enbridge Inc. has a fifty-two week low of $31.03 and a fifty-two week high of $40.32. The firm’s fifty day moving average price is $37.30 and its 200-day moving average price is $36.15.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings results on Friday, August 2nd. The pipeline company reported $0.58 earnings per share for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $4.28 billion. During the same quarter last year, the business posted $0.51 earnings per share. Equities research analysts forecast that Enbridge Inc. will post 2.06 earnings per share for the current fiscal year.

Enbridge Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Sunday, September 1st. Shareholders of record on Thursday, August 15th will be given a dividend of $0.669 per share. The ex-dividend date is Thursday, August 15th. This represents a $2.68 dividend on an annualized basis and a yield of 6.66%. Enbridge’s payout ratio 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.