Enbridge (NYSE:ENB) Trading 1.1% Higher

Enbridge Inc. (NYSE:ENB) (TSE:ENB)’s share price shot up 1.1% during trading on Wednesday . The stock traded as high as $40.67 and last traded at $40.63. 701,462 shares traded hands during trading, a decline of 87% from the average session volume of 5,354,768 shares. The stock had previously closed at $40.20.

Enbridge Trading Up 0.3 %

The company has a quick ratio of 0.68, a current ratio of 0.77 and a debt-to-equity ratio of 1.34. The stock has a market capitalization of $86.04 billion, a P/E ratio of 20.62, a price-to-earnings-growth ratio of 3.90 and a beta of 0.92. The company has a fifty day simple moving average of $37.51 and a two-hundred day simple moving average of $36.27.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings results on Friday, August 2nd. The pipeline company reported $0.58 earnings per share for the quarter, beating analysts’ consensus estimates of $0.45 by $0.13. The firm had revenue of $8.29 billion for the quarter, compared to analyst estimates of $4.28 billion. Enbridge had a net margin of 13.31% and a return on equity of 10.07%. During the same quarter in the previous year, the firm posted $0.51 earnings per share. On average, sell-side analysts expect that Enbridge Inc. will post 2.06 earnings per share for the current 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 paid a $0.669 dividend. This represents a $2.68 annualized dividend and a yield of 6.64%. The ex-dividend date of this dividend was Thursday, August 15th. Enbridge’s payout ratio is 134.01%.

Hedge Funds Weigh In On Enbridge

Hedge funds have recently made changes to their positions in the business. Fisher Asset Management LLC grew its position in Enbridge by 39.9% in the fourth quarter. Fisher Asset Management LLC now owns 11,833 shares of the pipeline company’s stock valued at $426,000 after purchasing an additional 3,373 shares in the last quarter. First Horizon Advisors Inc. increased its position in shares of Enbridge by 12.4% in the fourth quarter. First Horizon Advisors Inc. now owns 4,063 shares of the pipeline company’s stock valued at $146,000 after acquiring an additional 448 shares during the last quarter. Natixis Advisors L.P. boosted its position in Enbridge by 52.0% during the fourth quarter. Natixis Advisors L.P. now owns 103,686 shares of the pipeline company’s stock valued at $3,734,000 after purchasing an additional 35,473 shares during the last quarter. Merit Financial Group LLC grew its stake in Enbridge by 39.4% in the fourth quarter. Merit Financial Group LLC now owns 13,631 shares of the pipeline company’s stock valued at $491,000 after purchasing an additional 3,856 shares in the last quarter. Finally, Sheets Smith Wealth Management raised its stake in shares of Enbridge by 4.7% during the 4th quarter. Sheets Smith Wealth Management now owns 10,657 shares of the pipeline company’s stock worth $384,000 after purchasing an additional 475 shares in the last quarter. 54.60% of the stock is 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.