94,752 Shares in Enbridge Inc. (NYSE:ENB) Acquired by Prevail Innovative Wealth Advisors LLC

Prevail Innovative Wealth Advisors LLC acquired a new stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) in the second quarter, according to its most recent disclosure with the SEC. The firm acquired 94,752 shares of the pipeline company’s stock, valued at approximately $3,372,000. Enbridge makes up about 1.2% of Prevail Innovative Wealth Advisors LLC’s holdings, making the stock its 19th biggest position.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Sei Investments Co. boosted its stake in Enbridge by 6.1% during the first quarter. Sei Investments Co. now owns 274,235 shares of the pipeline company’s stock valued at $9,922,000 after buying an additional 15,650 shares during the last quarter. State Board of Administration of Florida Retirement System bought a new position in shares of Enbridge during the 1st quarter valued at approximately $1,133,000. CAP Partners LLC purchased a new position in shares of Enbridge in the fourth quarter valued at $391,000. Vanguard Group Inc. increased its position in Enbridge by 1.5% in the first quarter. Vanguard Group Inc. now owns 84,280,486 shares of the pipeline company’s stock worth $3,049,268,000 after purchasing an additional 1,227,031 shares during the last quarter. Finally, Parallel Advisors LLC raised its stake in Enbridge by 11.0% during the fourth quarter. Parallel Advisors LLC now owns 24,183 shares of the pipeline company’s stock valued at $871,000 after purchasing an additional 2,402 shares in the last quarter. Institutional investors own 54.60% of the company’s stock.

Enbridge Price Performance

ENB stock opened at $40.48 on Friday. The company has a fifty day simple moving average of $38.19 and a two-hundred day simple moving average of $36.53. Enbridge Inc. has a 52 week low of $31.03 and a 52 week high of $40.83. The company has a quick ratio of 0.68, a current ratio of 0.77 and a debt-to-equity ratio of 1.34. The firm has a market capitalization of $88.14 billion, a P/E ratio of 20.55, a price-to-earnings-growth ratio of 3.91 and a beta of 0.94.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings results on Friday, August 2nd. The pipeline company reported $0.58 EPS for the quarter, topping 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 company had revenue of $8.29 billion during the quarter, compared to analyst estimates of $4.28 billion. During the same quarter last year, the business posted $0.51 earnings per share. Analysts anticipate that Enbridge Inc. will post 2.06 earnings per share for the current fiscal year.

Enbridge Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Thursday, August 15th were issued a dividend of $0.669 per share. The ex-dividend date was Thursday, August 15th. This represents a $2.68 annualized dividend and a yield of 6.61%. Enbridge’s payout ratio is presently 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.