Leo Wealth LLC Grows Holdings in Enbridge Inc. (NYSE:ENB)

Leo Wealth LLC lifted its holdings in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 15.2% during the third quarter, Holdings Channel reports. The institutional investor owned 7,568 shares of the pipeline company’s stock after acquiring an additional 1,000 shares during the quarter. Leo Wealth LLC’s holdings in Enbridge were worth $307,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. M&G Plc purchased a new stake in Enbridge during the 1st quarter valued at about $152,843,000. Cibc World Market Inc. grew its position in Enbridge by 12.8% during the 2nd quarter. Cibc World Market Inc. now owns 32,531,675 shares of the pipeline company’s stock valued at $1,157,802,000 after purchasing an additional 3,693,495 shares during the last quarter. Canada Pension Plan Investment Board grew its position in Enbridge by 66.9% during the 1st quarter. Canada Pension Plan Investment Board now owns 9,044,864 shares of the pipeline company’s stock valued at $327,172,000 after purchasing an additional 3,624,089 shares during the last quarter. National Bank of Canada FI lifted its stake in Enbridge by 11.3% during the 1st quarter. National Bank of Canada FI now owns 21,664,748 shares of the pipeline company’s stock valued at $818,370,000 after acquiring an additional 2,203,123 shares during the period. Finally, 1832 Asset Management L.P. lifted its stake in Enbridge by 3.9% during the 1st quarter. 1832 Asset Management L.P. now owns 36,649,579 shares of the pipeline company’s stock valued at $1,325,982,000 after acquiring an additional 1,360,439 shares during the period. 54.60% of the stock is owned by hedge funds and other institutional investors.

Enbridge Price Performance

ENB opened at $41.46 on Wednesday. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.68 and a current ratio of 0.77. The stock has a market capitalization of $88.46 billion, a P/E ratio of 21.04, a P/E/G ratio of 3.94 and a beta of 0.93. The company’s 50-day simple moving average is $40.47 and its two-hundred day simple moving average is $37.63. Enbridge Inc. has a 52-week low of $31.31 and a 52-week high of $42.16.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings data 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. Enbridge had a net margin of 13.31% and a return on equity of 10.07%. The firm had revenue of $8.29 billion for the quarter, compared to analysts’ expectations of $4.28 billion. During the same quarter in the prior year, the business earned $0.51 EPS. As a group, analysts predict that Enbridge Inc. will post 2.08 EPS for the current year.

Enbridge Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Thursday, August 15th were paid a $0.669 dividend. This represents a $2.68 annualized dividend and a dividend yield of 6.46%. The ex-dividend date of this dividend was Thursday, August 15th. Enbridge’s dividend payout ratio (DPR) is presently 134.01%.

Wall Street Analyst Weigh In

Separately, Jefferies Financial Group cut shares of Enbridge from a “buy” rating to a “hold” rating in a research note on Monday, September 30th.

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.