Enbridge (NYSE:ENB) Stock Price Down 0.1%

Enbridge Inc. (NYSE:ENB) (TSE:ENB) shares were down 0.1% on Tuesday . The stock traded as low as $41.03 and last traded at $41.13. Approximately 360,603 shares were traded during mid-day trading, a decline of 93% from the average daily volume of 5,237,688 shares. The stock had previously closed at $41.18.

Enbridge Stock Performance

The stock has a market cap of $87.13 billion, a P/E ratio of 20.88, a P/E/G ratio of 3.91 and a beta of 0.94. 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 business’s 50-day moving average price is $38.41 and its 200-day moving average price is $36.65.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings data 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 analysts’ expectations of $4.28 billion. Enbridge had a return on equity of 10.07% and a net margin of 13.31%. During the same period in the previous year, the firm earned $0.51 EPS. As a group, sell-side analysts expect that Enbridge Inc. will post 2.06 earnings per share for the current fiscal year.

Enbridge Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Thursday, August 15th were issued a $0.669 dividend. This represents a $2.68 annualized dividend and a yield of 6.55%. The ex-dividend date was Thursday, August 15th. Enbridge’s dividend payout ratio is currently 134.01%.

Hedge Funds Weigh In On Enbridge

Several hedge funds have recently modified their holdings of the stock. Norges Bank bought a new stake in Enbridge during the 4th quarter valued at about $714,662,000. TD Asset Management Inc increased its position in Enbridge by 24.9% during the 4th quarter. TD Asset Management Inc now owns 37,749,760 shares of the pipeline company’s stock valued at $1,365,583,000 after buying an additional 7,536,678 shares in the last quarter. M&G Plc acquired a new position in shares of Enbridge during the first quarter valued at about $152,843,000. Cibc World Market Inc. increased its stake in 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 in the last quarter. Finally, Canada Pension Plan Investment Board lifted its stake in shares of Enbridge by 66.9% during the first quarter. Canada Pension Plan Investment Board now owns 9,044,864 shares of the pipeline company’s stock worth $327,172,000 after buying an additional 3,624,089 shares during the period. Hedge funds and other 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.