Enbridge Inc. (NYSE:ENB) Position Lifted by First Horizon Advisors Inc.

First Horizon Advisors Inc. grew its stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 21.9% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 5,262 shares of the pipeline company’s stock after purchasing an additional 947 shares during the quarter. First Horizon Advisors Inc.’s holdings in Enbridge were worth $187,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the stock. Tennessee Valley Asset Management Partners acquired a new position in Enbridge in the fourth quarter worth $28,000. TruNorth Capital Management LLC acquired a new position in shares of Enbridge in the 2nd quarter valued at about $28,000. Ameritas Investment Partners Inc. bought a new stake in shares of Enbridge during the 1st quarter valued at about $29,000. Richardson Financial Services Inc. acquired a new stake in Enbridge during the first quarter worth about $31,000. Finally, PFS Partners LLC lifted its holdings in Enbridge by 95.8% in the first quarter. PFS Partners LLC now owns 922 shares of the pipeline company’s stock worth $33,000 after acquiring an additional 451 shares during the last quarter. Institutional investors own 54.60% of the company’s stock.

Enbridge Stock Performance

Shares of NYSE:ENB traded up $0.02 during trading on Tuesday, hitting $39.15. 888,035 shares of the company traded hands, compared to its average volume of 5,441,795. The stock has a market capitalization of $83.54 billion, a price-to-earnings ratio of 19.87, a PEG ratio of 3.55 and a beta of 0.92. Enbridge Inc. has a one year low of $31.03 and a one year high of $39.72. The company has a quick ratio of 0.59, a current ratio of 0.68 and a debt-to-equity ratio of 1.35. The business’s fifty day moving average is $36.50 and its 200-day moving average is $35.87.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its earnings results on Friday, August 2nd. The pipeline company reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.13. Enbridge had a return on equity of 10.53% and a net margin of 13.59%. The firm had revenue of $8.29 billion for the quarter, compared to analyst estimates of $4.28 billion. During the same period last year, the company earned $0.51 earnings per share. As a group, equities analysts predict that Enbridge Inc. will post 2.12 earnings per share for the current fiscal year.

Enbridge Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Sunday, September 1st. Shareholders of record on Thursday, August 15th will be paid a dividend of $0.669 per share. This represents a $2.68 dividend on an annualized basis and a yield of 6.84%. The ex-dividend date is Thursday, August 15th. Enbridge’s payout ratio is 134.01%.

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.