Octavia Wealth Advisors LLC Has $286,000 Stake in Enbridge Inc. (NYSE:ENB)

Octavia Wealth Advisors LLC lifted its stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 36.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,035 shares of the pipeline company’s stock after buying an additional 2,157 shares during the period. Octavia Wealth Advisors LLC’s holdings in Enbridge were worth $286,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Fisher Asset Management LLC increased its position in shares of Enbridge by 39.9% during the fourth quarter. Fisher Asset Management LLC now owns 11,833 shares of the pipeline company’s stock valued at $426,000 after acquiring an additional 3,373 shares during the last quarter. First Horizon Advisors Inc. boosted its holdings in shares of Enbridge by 12.4% in the 4th quarter. First Horizon Advisors Inc. now owns 4,063 shares of the pipeline company’s stock worth $146,000 after buying an additional 448 shares during the last quarter. Natixis Advisors L.P. raised its position in Enbridge by 52.0% in the fourth quarter. Natixis Advisors L.P. now owns 103,686 shares of the pipeline company’s stock worth $3,734,000 after acquiring an additional 35,473 shares during the period. Merit Financial Group LLC boosted its stake in Enbridge by 39.4% in the fourth quarter. Merit Financial Group LLC now owns 13,631 shares of the pipeline company’s stock valued at $491,000 after acquiring an additional 3,856 shares during the last quarter. Finally, Sheets Smith Wealth Management grew its position in shares of Enbridge by 4.7% during the 4th quarter. Sheets Smith Wealth Management now owns 10,657 shares of the pipeline company’s stock valued at $384,000 after acquiring an additional 475 shares during the period. 54.60% of the stock is owned by hedge funds and other institutional investors.

Enbridge Trading Up 0.1 %

NYSE:ENB opened at $40.21 on Wednesday. The firm’s 50 day moving average is $37.51 and its 200 day moving average is $36.27. Enbridge Inc. has a 12 month low of $31.03 and a 12 month high of $40.33. The stock has a market capitalization of $85.79 billion, a PE ratio of 20.41, a price-to-earnings-growth ratio of 3.90 and a beta of 0.92. The company has a current ratio of 0.77, a quick ratio of 0.68 and a debt-to-equity ratio of 1.34.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its earnings results on Friday, August 2nd. The pipeline company reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.13. Enbridge had a return on equity of 10.07% and a net margin of 13.31%. The firm had revenue of $8.29 billion for the quarter, compared to analyst estimates of $4.28 billion. During the same period in the previous year, the company posted $0.51 earnings per share. Sell-side analysts expect that Enbridge Inc. will post 2.06 earnings per share for the current year.

Enbridge Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Thursday, August 15th were issued a $0.669 dividend. This represents a $2.68 annualized dividend and a yield of 6.66%. The ex-dividend date was Thursday, August 15th. Enbridge’s dividend payout ratio (DPR) is currently 134.01%.

Enbridge Company 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.