Griffin Asset Management Inc. Buys 1,066 Shares of Enbridge Inc. (NYSE:ENB)

Griffin Asset Management Inc. lifted its stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 1.0% in the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 108,091 shares of the pipeline company’s stock after purchasing an additional 1,066 shares during the quarter. Griffin Asset Management Inc.’s holdings in Enbridge were worth $3,911,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Canoe Financial LP lifted its holdings 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 acquiring an additional 33,419,164 shares during the last quarter. Wellington Management Group LLP raised its holdings in shares of Enbridge by 630.3% in the third quarter. Wellington Management Group LLP now owns 32,531,108 shares of the pipeline company’s stock worth $1,083,938,000 after buying an additional 28,076,386 shares during the period. Norges Bank purchased a new stake in Enbridge in the fourth quarter worth $714,662,000. TD Asset Management Inc lifted its position in shares of Enbridge by 24.9% during the fourth 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 stake in shares of Enbridge by 5.7% during the third quarter. Vanguard Group Inc. now owns 81,491,857 shares of the pipeline company’s stock valued at $2,704,715,000 after purchasing an additional 4,400,848 shares during the period. Institutional investors own 54.60% of the company’s stock.

Enbridge Trading Up 0.9 %

ENB traded up $0.33 on Friday, reaching $35.59. 4,374,256 shares of the company traded hands, compared to its average volume of 4,628,726. The company has a market cap of $75.95 billion, a P/E ratio of 18.07, a price-to-earnings-growth ratio of 3.31 and a beta of 0.90. The company has a quick ratio of 0.59, a current ratio of 0.68 and a debt-to-equity ratio of 1.35. Enbridge Inc. has a one year low of $31.03 and a one year high of $38.37. The firm has a fifty day simple moving average of $36.01 and a two-hundred day simple moving average of $35.63.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings results on Friday, May 10th. The pipeline company reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.59 by $0.09. The firm had revenue of $8.19 billion during 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%. As a group, equities research analysts expect that Enbridge Inc. will post 2.13 earnings per share for the current year.

Enbridge Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Saturday, June 1st. Stockholders of record on Wednesday, May 15th were given a dividend of $0.677 per share. This is an increase from Enbridge’s previous quarterly dividend of $0.66. The ex-dividend date was Tuesday, May 14th. This represents a $2.71 dividend on an annualized basis and a dividend yield of 7.61%. Enbridge’s dividend payout ratio is presently 136.04%.

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.