Enbridge Inc. (NYSE:ENB) is Dupree Financial Group LLC’s Largest Position

Dupree Financial Group LLC decreased its position in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 0.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 499,718 shares of the pipeline company’s stock after selling 4,599 shares during the period. Enbridge comprises 8.1% of Dupree Financial Group LLC’s portfolio, making the stock its largest holding. Dupree Financial Group LLC’s holdings in Enbridge were worth $20,294,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in ENB. Grove Bank & Trust increased its position in Enbridge by 56.7% during the 3rd quarter. Grove Bank & Trust now owns 771 shares of the pipeline company’s stock worth $31,000 after purchasing an additional 279 shares during the period. TruNorth Capital Management LLC acquired a new stake in Enbridge in the second quarter valued at $28,000. William B. Walkup & Associates Inc. acquired a new position in shares of Enbridge during the 2nd quarter worth $28,000. Ameritas Investment Partners Inc. purchased a new position in shares of Enbridge in the 1st quarter valued at about $29,000. Finally, Richardson Financial Services Inc. acquired a new stake in shares of Enbridge in the first quarter valued at about $31,000. 54.60% of the stock is owned by hedge funds and other institutional investors.

Enbridge Stock Down 0.2 %

Shares of NYSE ENB opened at $41.46 on Wednesday. The firm’s 50-day moving average is $40.47 and its two-hundred day moving average is $37.63. The company has a market capitalization of $88.46 billion, a PE ratio of 21.04, a price-to-earnings-growth ratio of 3.94 and a beta of 0.93. Enbridge Inc. has a 12-month low of $31.31 and a 12-month high of $42.16. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.77 and a quick ratio of 0.68.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its earnings results on Friday, August 2nd. The pipeline company reported $0.58 EPS for the quarter, beating analysts’ consensus estimates of $0.45 by $0.13. Enbridge had a return on equity of 10.07% and a net margin of 13.31%. 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 firm earned $0.51 EPS. Equities analysts anticipate that Enbridge Inc. will post 2.08 EPS for the current fiscal year.

Enbridge Cuts Dividend

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

Wall Street Analysts Forecast Growth

Separately, Jefferies Financial Group cut shares of Enbridge from a “buy” rating to a “hold” rating in a report 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.