Procyon Advisors LLC Has $3.56 Million Stock Position in Enbridge Inc. (NYSE:ENB)

Procyon Advisors LLC lifted its stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 38.2% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 98,465 shares of the pipeline company’s stock after purchasing an additional 27,236 shares during the period. Procyon Advisors LLC’s holdings in Enbridge were worth $3,562,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in ENB. Canoe Financial LP boosted its position in shares of Enbridge by 80,631.1% in the 4th quarter. Canoe Financial LP now owns 33,460,611 shares of the pipeline company’s stock worth $1,205,251,000 after purchasing an additional 33,419,164 shares during the last quarter. Wellington Management Group LLP boosted its position in shares of Enbridge by 630.3% in the 3rd quarter. Wellington Management Group LLP now owns 32,531,108 shares of the pipeline company’s stock worth $1,083,938,000 after purchasing an additional 28,076,386 shares during the last quarter. Norges Bank bought a new position in shares of Enbridge in the 4th quarter worth $714,662,000. TD Asset Management Inc boosted its position in shares of Enbridge by 24.9% in the 4th quarter. TD Asset Management Inc now owns 37,749,760 shares of the pipeline company’s stock worth $1,365,583,000 after purchasing an additional 7,536,678 shares during the last quarter. Finally, Vanguard Group Inc. boosted its position in shares of Enbridge by 5.7% in the 3rd quarter. Vanguard Group Inc. now owns 81,491,857 shares of the pipeline company’s stock worth $2,704,715,000 after purchasing an additional 4,400,848 shares during the last quarter. 54.60% of the stock is currently owned by institutional investors.

Enbridge Trading Down 0.2 %

ENB stock traded down $0.08 during midday trading on Thursday, hitting $35.26. 2,960,912 shares of the company’s stock were exchanged, compared to its average volume of 5,718,373. The stock’s fifty day moving average price is $35.97 and its 200-day moving average price is $35.62. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.59 and a current ratio of 0.68. The company has a market cap of $74.97 billion, a PE ratio of 17.93, a price-to-earnings-growth ratio of 3.28 and a beta of 0.90. Enbridge Inc. has a one year low of $31.03 and a one year high of $38.37.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its earnings results on Friday, May 10th. The pipeline company reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.09. The firm had revenue of $8.19 billion for the quarter, compared to analyst estimates of $9 billion. Enbridge had a return on equity of 10.53% and a net margin of 13.59%. Research analysts predict that Enbridge Inc. will post 2.13 earnings per share for the current fiscal year.

Enbridge Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Saturday, June 1st. Shareholders of record on Wednesday, May 15th were issued a dividend of $0.677 per share. The ex-dividend date of this dividend was Tuesday, May 14th. This is a positive change from Enbridge’s previous quarterly dividend of $0.66. This represents a $2.71 annualized dividend and a yield of 7.68%. Enbridge’s payout ratio is currently 136.04%.

About Enbridge

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.