Enbridge (NYSE:ENB) Trading Up 1.7%

Shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) rose 1.7% during trading on Friday . The stock traded as high as $39.70 and last traded at $39.69. Approximately 656,340 shares were traded during trading, a decline of 88% from the average daily volume of 5,428,336 shares. The stock had previously closed at $39.04.

Enbridge Stock Performance

The company has a debt-to-equity ratio of 1.35, a current ratio of 0.68 and a quick ratio of 0.59. The firm has a market capitalization of $84.63 billion, a price-to-earnings ratio of 20.13, a PEG ratio of 3.55 and a beta of 0.92. The firm’s fifty day moving average is $36.81 and its 200 day moving average is $35.98.

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

Enbridge Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Sunday, September 1st. Investors of record on Thursday, August 15th will be issued a dividend of $0.669 per share. This represents a $2.68 annualized dividend and a dividend yield of 6.75%. The ex-dividend date is Thursday, August 15th. Enbridge’s dividend payout ratio is currently 134.01%.

Institutional Trading of Enbridge

A number of institutional investors have recently added to or reduced their stakes in the business. Cetera Investment Advisers lifted its stake in Enbridge by 7.9% in the second quarter. Cetera Investment Advisers now owns 798,636 shares of the pipeline company’s stock valued at $28,411,000 after acquiring an additional 58,545 shares during the last quarter. Graham Capital Wealth Management LLC acquired a new stake in Enbridge in the second quarter valued at approximately $2,128,000. Ted Buchan & Co acquired a new stake in Enbridge in the second quarter valued at approximately $1,210,000. Pathway Financial Advisers LLC lifted its stake in Enbridge by 2.6% in the second quarter. Pathway Financial Advisers LLC now owns 108,334 shares of the pipeline company’s stock valued at $3,852,000 after acquiring an additional 2,760 shares during the last quarter. Finally, Old North State Trust LLC lifted its stake in Enbridge by 5.1% in the second quarter. Old North State Trust LLC now owns 13,985 shares of the pipeline company’s stock valued at $498,000 after acquiring an additional 680 shares during the last quarter. 54.60% of the stock is currently owned by institutional investors and hedge funds.

About Enbridge

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.