Enbridge (NYSE:ENB) Reaches New 1-Year High at $41.14

Shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $41.14 and last traded at $41.06, with a volume of 309820 shares changing hands. The stock had previously closed at $40.73.

Enbridge Price Performance

The company has a current ratio of 0.77, a quick ratio of 0.68 and a debt-to-equity ratio of 1.34. The firm has a 50 day moving average of $38.29 and a two-hundred day moving average of $36.60. The company has a market cap of $87.28 billion, a PE ratio of 20.79, a P/E/G ratio of 3.91 and a beta of 0.94.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings results on Friday, August 2nd. The pipeline company reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $4.28 billion. During the same quarter last year, the firm posted $0.51 EPS. Research analysts predict that Enbridge Inc. will post 2.06 earnings per share for the current fiscal year.

Enbridge Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Thursday, August 15th were paid a dividend of $0.669 per share. The ex-dividend date was Thursday, August 15th. This represents a $2.68 dividend on an annualized basis and a yield of 6.54%. Enbridge’s dividend payout ratio is presently 134.01%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Sei Investments Co. boosted its holdings in shares of Enbridge by 6.1% in the first quarter. Sei Investments Co. now owns 274,235 shares of the pipeline company’s stock worth $9,922,000 after buying an additional 15,650 shares during the last quarter. State Board of Administration of Florida Retirement System bought a new stake in Enbridge during the first quarter valued at about $1,133,000. CAP Partners LLC bought a new position in shares of Enbridge in the fourth quarter worth about $391,000. Vanguard Group Inc. lifted its position in shares of Enbridge by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 84,280,486 shares of the pipeline company’s stock valued at $3,049,268,000 after buying an additional 1,227,031 shares in the last quarter. Finally, Parallel Advisors LLC grew its stake in shares of Enbridge by 11.0% during the 4th quarter. Parallel Advisors LLC now owns 24,183 shares of the pipeline company’s stock valued at $871,000 after acquiring an additional 2,402 shares during the period. Institutional investors own 54.60% of the company’s stock.

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.