BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Buys 192,975 Shares of Enbridge Inc. (NYSE:ENB)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 185.1% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 297,230 shares of the pipeline company’s stock after acquiring an additional 192,975 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Enbridge were worth $10,576,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of ENB. Evergreen Capital Management LLC increased its position in shares of Enbridge by 14.0% during the second quarter. Evergreen Capital Management LLC now owns 103,406 shares of the pipeline company’s stock valued at $3,680,000 after acquiring an additional 12,688 shares in the last quarter. Magnetar Financial LLC bought a new position in shares of Enbridge during the second quarter valued at $4,766,000. Edge Capital Group LLC boosted its position in shares of Enbridge by 53.9% during the second quarter. Edge Capital Group LLC now owns 37,249 shares of the pipeline company’s stock valued at $1,326,000 after buying an additional 13,047 shares during the last quarter. EverSource Wealth Advisors LLC increased its holdings in Enbridge by 5.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 9,553 shares of the pipeline company’s stock worth $357,000 after buying an additional 484 shares in the last quarter. Finally, Greenline Partners LLC raised its position in Enbridge by 6.4% in the 2nd quarter. Greenline Partners LLC now owns 333,141 shares of the pipeline company’s stock worth $11,750,000 after buying an additional 19,993 shares during the last quarter. Institutional investors own 54.60% of the company’s stock.

Enbridge Stock Performance

Shares of NYSE ENB opened at $41.10 on Thursday. The firm’s 50-day moving average price is $38.99 and its 200-day moving average price is $36.89. Enbridge Inc. has a 52-week low of $31.03 and a 52-week high of $41.22. The company has a market cap of $87.69 billion, a PE ratio of 20.86, a PEG ratio of 3.93 and a beta of 0.94. The company has a quick ratio of 0.68, a current ratio of 0.77 and a debt-to-equity ratio of 1.34.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its earnings results on Friday, August 2nd. The pipeline company reported $0.58 EPS for the quarter, topping analysts’ consensus estimates of $0.45 by $0.13. The business had revenue of $8.29 billion during the quarter, compared to the consensus estimate of $4.28 billion. Enbridge had a net margin of 13.31% and a return on equity of 10.07%. During the same quarter in the previous year, the firm posted $0.51 EPS. As a group, analysts anticipate that Enbridge Inc. will post 2.08 EPS for the current year.

Enbridge Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Thursday, August 15th were given a $0.669 dividend. The ex-dividend date was Thursday, August 15th. This represents a $2.68 annualized dividend and a yield of 6.51%. 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.