Enbridge (NYSE:ENB) Trading Up 0.6%

Enbridge Inc. (NYSE:ENB) (TSE:ENB)’s share price was up 0.6% on Friday . The stock traded as high as $39.86 and last traded at $39.81. Approximately 544,955 shares were traded during mid-day trading, a decline of 90% from the average daily volume of 5,368,653 shares. The stock had previously closed at $39.56.

Enbridge Stock Performance

The stock has a market capitalization of $85.18 billion, a price-to-earnings ratio of 20.21, a PEG ratio of 3.55 and a beta of 0.92. The stock’s 50 day moving average is $37.10 and its 200 day moving average is $36.09. The company has a current ratio of 0.68, a quick ratio of 0.59 and a debt-to-equity ratio of 1.35.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings data on Friday, August 2nd. The pipeline company reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.13. Enbridge had a net margin of 13.59% and a return on equity of 10.53%. The company had revenue of $8.29 billion during the quarter, compared to analysts’ expectations of $4.28 billion. During the same period in the previous year, the company earned $0.51 EPS. On average, analysts predict that Enbridge Inc. will post 2.12 earnings per share for the current year.

Enbridge Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Sunday, September 1st. Stockholders of record on Thursday, August 15th will be paid a $0.669 dividend. The ex-dividend date is Thursday, August 15th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 6.70%. Enbridge’s dividend payout ratio (DPR) is presently 134.01%.

Institutional Investors Weigh In On Enbridge

Hedge funds have recently added to or reduced their stakes in the stock. Canoe Financial LP increased its position in Enbridge by 80,631.1% in the 4th quarter. Canoe Financial LP now owns 33,460,611 shares of the pipeline company’s stock valued at $1,205,251,000 after acquiring an additional 33,419,164 shares during the period. Norges Bank bought a new stake in shares of Enbridge during the 4th quarter worth about $714,662,000. TD Asset Management Inc lifted its stake in shares of Enbridge by 24.9% in the 4th quarter. TD Asset Management Inc now owns 37,749,760 shares of the pipeline company’s stock worth $1,365,583,000 after acquiring an additional 7,536,678 shares during the period. M&G Plc bought a new stake in Enbridge during the first quarter worth approximately $152,843,000. Finally, Cibc World Market Inc. lifted its position in Enbridge by 12.8% in the second quarter. Cibc World Market Inc. now owns 32,531,675 shares of the pipeline company’s stock worth $1,157,802,000 after purchasing an additional 3,693,495 shares during the period. 54.60% of the stock is currently owned by institutional investors.

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.