Enbridge (NYSE:ENB) Trading Up 0.5%

Enbridge Inc. (NYSE:ENB) (TSE:ENB)’s stock price shot up 0.5% during mid-day trading on Monday . The company traded as high as $40.65 and last traded at $40.59. 667,492 shares were traded during trading, a decline of 87% from the average session volume of 5,320,461 shares. The stock had previously closed at $40.39.

Enbridge Stock Performance

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 50 day moving average of $37.81 and a 200 day moving average of $36.40. The stock has a market capitalization of $88.66 billion, a P/E ratio of 20.60, a P/E/G ratio of 3.92 and a beta of 0.93.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings data on Friday, August 2nd. The pipeline company reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates of $0.45 by $0.13. The business had revenue of $8.29 billion for the quarter, compared to analysts’ expectations of $4.28 billion. Enbridge had a net margin of 13.31% and a return on equity of 10.07%. During the same quarter last year, the company earned $0.51 EPS. Equities analysts predict that Enbridge Inc. will post 2.06 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 given a dividend of $0.669 per share. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $2.68 annualized dividend and a dividend yield of 6.57%. Enbridge’s dividend payout ratio is presently 134.01%.

Institutional Trading of Enbridge

Several hedge funds have recently added to or reduced their stakes in ENB. Vanguard Group Inc. lifted its stake in shares of Enbridge by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 84,280,486 shares of the pipeline company’s stock worth $3,049,268,000 after acquiring an additional 1,227,031 shares during the period. TD Asset Management Inc lifted its position in Enbridge by 0.9% in the first quarter. TD Asset Management Inc now owns 38,087,489 shares of the pipeline company’s stock worth $1,377,708,000 after purchasing an additional 337,729 shares during the period. 1832 Asset Management L.P. boosted 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 purchasing an additional 1,360,439 shares in the last quarter. Cibc World Market Inc. increased its position in shares of 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 period. Finally, Bank of Nova Scotia increased its position in shares of Enbridge by 6.8% during the 4th quarter. Bank of Nova Scotia now owns 29,995,342 shares of the pipeline company’s stock valued at $1,079,833,000 after purchasing an additional 1,910,302 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.