Keynote Financial Services LLC Acquires New Stake in Enbridge Inc. (NYSE:ENB)

Keynote Financial Services LLC acquired a new stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) in the first quarter, Holdings Channel reports. The firm acquired 12,199 shares of the pipeline company’s stock, valued at approximately $441,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. BOK Financial Private Wealth Inc. acquired a new stake in Enbridge during the 4th quarter worth about $25,000. Baystate Wealth Management LLC grew its holdings in Enbridge by 836.4% during the 4th quarter. Baystate Wealth Management LLC now owns 721 shares of the pipeline company’s stock worth $26,000 after acquiring an additional 644 shares during the period. Tennessee Valley Asset Management Partners acquired a new stake in Enbridge during the 4th quarter worth about $28,000. Ameritas Investment Partners Inc. acquired a new stake in Enbridge during the 1st quarter worth about $29,000. Finally, Richardson Financial Services Inc. acquired a new stake in Enbridge during the 1st quarter worth about $31,000. 54.60% of the stock is currently owned by institutional investors and hedge funds.

Enbridge Stock Up 1.0 %

Shares of ENB stock traded up $0.36 on Friday, reaching $37.96. 10,451,304 shares of the company were exchanged, compared to its average volume of 4,122,181. The company has a market cap of $82.65 billion, a price-to-earnings ratio of 19.27, a PEG ratio of 3.55 and a beta of 0.92. The company has a 50-day moving average of $35.92 and a 200-day moving average of $35.64. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.68 and a quick ratio of 0.59. Enbridge Inc. has a one year low of $31.03 and a one year high of $38.37.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings data on Friday, May 10th. The pipeline company reported $0.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.59 by $0.09. The company had revenue of $8.19 billion for the quarter, compared to analysts’ expectations of $9 billion. Enbridge had a net margin of 13.59% and a return on equity of 10.53%. Analysts anticipate that Enbridge Inc. will post 2.12 earnings per share for the current year.

Enbridge Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, September 1st. Stockholders of record on Thursday, August 15th will be given a dividend of $0.669 per share. The ex-dividend date is Thursday, August 15th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 7.05%. Enbridge’s dividend payout ratio (DPR) 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.