Enbridge (NYSE:ENB) Trading Down 0.1%

Enbridge Inc. (NYSE:ENB) (TSE:ENB)’s share price fell 0.1% during trading on Thursday . The stock traded as low as $38.85 and last traded at $38.97. 420,913 shares were traded during mid-day trading, a decline of 92% from the average session volume of 5,422,428 shares. The stock had previously closed at $39.00.

Enbridge Stock Up 1.5 %

The company has a market capitalization of $84.59 billion, a price-to-earnings ratio of 20.12, a PEG ratio of 3.55 and a beta of 0.92. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.59 and a current ratio of 0.68. The business’s 50 day moving average is $36.81 and its 200 day moving average is $35.97.

Enbridge (NYSE:ENB) (TSE:ENB) last announced 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 business had revenue of $8.29 billion for the quarter, compared to analyst estimates of $4.28 billion. Enbridge had a return on equity of 10.53% and a net margin of 13.59%. During the same period in the prior year, the company earned $0.51 earnings per share. Sell-side analysts anticipate that Enbridge Inc. will post 2.12 earnings per share for the current year.

Enbridge Cuts Dividend

The firm also recently disclosed 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 6.75%. Enbridge’s payout ratio is currently 134.01%.

Institutional Investors Weigh In On Enbridge

Hedge funds have recently added to or reduced their stakes in the business. Canoe Financial LP boosted its stake in shares of Enbridge by 80,631.1% in the fourth quarter. Canoe Financial LP now owns 33,460,611 shares of the pipeline company’s stock worth $1,205,251,000 after buying an additional 33,419,164 shares during the last quarter. Norges Bank acquired a new position in shares of Enbridge in the 4th quarter valued at $714,662,000. TD Asset Management Inc grew its position in Enbridge by 24.9% during the fourth 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 during the period. M&G Plc acquired a new position in shares of Enbridge in the first quarter worth about $152,843,000. Finally, Cibc World Market Inc. boosted its stake 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 worth $1,157,802,000 after acquiring an additional 3,693,495 shares in the last quarter. 54.60% of the stock is owned by hedge funds and other 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.