Norden Group LLC owns $289,000 in Enbridge Inc. (NYSE:ENB)

Norden Group LLC reduced its stake in Enbridge Inc. (NYSE:ENB – Free Report) (TSE:ENB) by 18.5% during the second quarter, HoldingsChannel.com reports. The firm owned 8,125 shares of the pipeline company’s stock after selling 1,839 shares during the quarter. Norden Group LLC’s holdings in Enbridge were worth $289,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the stock. Cobblestone Capital Advisors LLC NY grew its position in Enbridge by 3.5% during the 2nd quarter. Cobblestone Capital Advisors LLC NY now owns 14,915 shares of the pipeline company’s stock valued at $531,000 after buying an additional 510 shares during the period respective. Loudon Investment Management LLC boosted its holdings in Enbridge by 12.0% in the second quarter. Loudon Investment Management LLC now owns 18,361 shares of the pipeline company’s stock valued at $653,000 after buying an additional 1,965 shares during the period. Torray Investment Partners LLC boosted its holdings in Enbridge by 1.7% in the second quarter. Torray Investment Partners LLC now owns 108,510 shares of the pipeline company’s stock valued at $3,862,000 after buying an additional 1,826 shares during the period. Mosley Wealth Management bought a new position in Enbridge in the second quarter valued at about $211,000. Finally, Tortoise Capital Advisors LLC boosted its holdings in Enbridge by 4.7% during the second quarter. Tortoise Capital Advisors LLC now owns 4,533,032 shares of the pipeline company’s stock worth $161,331,000 after acquiring an additional 203,972 shares during the period. Institutional investors hold 54.60% of the company’s shares.

Enbridge stock performance

Shares of ENB opened at $40.79 on Tuesday. Enbridge Inc. it has a 12-month low of $31.03 and a 12-month high of $40.81. 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 company has a market cap of $88.82 billion, a P/E ratio of 20.71, a price-to-earnings-growth ratio of 3.92 and a beta of 0.93. The company’s fifty-day moving average is $37.92, and its 200-day moving average is $36.44.

Enbridge (NYSE:ENB – Get Your Free Report ) (TSE:ENB) last released 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. The firm had revenue of $8.29 billion for the quarter, compared to analyst estimates of $4.28 billion. Enbridge had a return on equity of 10.07% and a net margin of 13.31%. In the same quarter last year, the company posted earnings of $0.51 per share. Equities research analysts predict that Enbridge Inc. will record 2.06 EPS for the current year.

Enbridge cuts dividend

The company also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Thursday, August 15th were given a dividend of $0.669 per share. The ex-dividend date was Thursday, August 15. This represents a dividend of $2.68 on an annualized basis and a dividend yield of 6.56%. Enbridge’s dividend yield is 134.01%.

Enbridge Company Profile

(Free report)

Enbridge Inc, together with its subsidiaries, operates as an energy infrastructure company. The company operates through five segments: liquids pipelines, gas transportation and midstream, gas distribution and storage, renewable energy generation and energy services. The Liquid Pipelines segment operates pipelines and related terminals to transport various types of crude oil and other liquid hydrocarbons in Canada and the United States.

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