Confluence Wealth Services Inc. Purchases New Position in Enbridge Inc. (NYSE:ENB)

Confluence Wealth Services Inc. purchased a new stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 10,523 shares of the pipeline company’s stock, valued at approximately $375,000.

A number of other large investors have also added to or reduced their stakes in the company. TruNorth Capital Management LLC purchased a new position in shares of Enbridge in the second quarter valued at $28,000. Ameritas Investment Partners Inc. bought a new stake in shares of Enbridge in the 1st quarter worth about $29,000. Richardson Financial Services Inc. purchased a new stake in shares of Enbridge during the 1st quarter valued at about $31,000. PFS Partners LLC lifted its holdings in shares of Enbridge by 95.8% in the 1st quarter. PFS Partners LLC now owns 922 shares of the pipeline company’s stock valued at $33,000 after acquiring an additional 451 shares during the last quarter. Finally, Northwest Bank & Trust Co purchased a new position in Enbridge in the fourth quarter worth about $34,000. Institutional investors own 54.60% of the company’s stock.

Enbridge Trading Up 1.6 %

Shares of ENB stock opened at $40.18 on Monday. The company has a market cap of $87.49 billion, a PE ratio of 20.40, a price-to-earnings-growth ratio of 3.90 and a beta of 0.92. Enbridge Inc. has a 1 year low of $31.03 and a 1 year high of $40.32. The stock’s 50 day simple moving average is $37.30 and its two-hundred day simple moving average is $36.19. 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 released its quarterly earnings results on Friday, August 2nd. The pipeline company reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.13. The company had revenue of $8.29 billion for the quarter, compared to analyst estimates of $4.28 billion. Enbridge had a return on equity of 10.07% and a net margin of 13.31%. During the same quarter in the prior year, the firm posted $0.51 EPS. Research analysts predict that Enbridge Inc. will post 2.06 earnings per share for the current year.

Enbridge Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Thursday, August 15th were issued a dividend of $0.669 per share. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $2.68 annualized dividend 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.