Independence Bank of Kentucky Has $142,000 Position in Enbridge Inc. (NYSE:ENB)

Independence Bank of Kentucky grew its position in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 30.9% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,933 shares of the pipeline company’s stock after buying an additional 929 shares during the quarter. Independence Bank of Kentucky’s holdings in Enbridge were worth $142,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in ENB. Qube Research & Technologies Ltd grew its holdings in shares of Enbridge by 4.5% during the 3rd quarter. Qube Research & Technologies Ltd now owns 94,966 shares of the pipeline company’s stock valued at $3,152,000 after purchasing an additional 4,120 shares during the last quarter. Schonfeld Strategic Advisors LLC grew its holdings in shares of Enbridge by 31.2% during the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 103,401 shares of the pipeline company’s stock valued at $3,432,000 after purchasing an additional 24,600 shares during the last quarter. Waverly Advisors LLC grew its holdings in shares of Enbridge by 8.7% during the 3rd quarter. Waverly Advisors LLC now owns 7,571 shares of the pipeline company’s stock valued at $254,000 after purchasing an additional 603 shares during the last quarter. United Services Automobile Association grew its holdings in shares of Enbridge by 14.4% during the 3rd quarter. United Services Automobile Association now owns 64,728 shares of the pipeline company’s stock valued at $2,147,000 after purchasing an additional 8,124 shares during the last quarter. Finally, Insigneo Advisory Services LLC bought a new stake in shares of Enbridge during the 3rd quarter valued at approximately $378,000. 54.60% of the stock is currently owned by institutional investors and hedge funds.

Enbridge Trading Up 0.9 %

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

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 analysts’ consensus estimates of $0.59 by $0.09. Enbridge had a net margin of 13.59% and a return on equity of 10.53%. The firm had revenue of $8.19 billion for the quarter, compared to analyst estimates of $9 billion. As a group, equities research analysts forecast that Enbridge Inc. will post 2.13 earnings per share for the current fiscal year.

Enbridge Increases Dividend

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