Enbridge (NYSE:ENB) Trading Up 1.6%

Enbridge Inc. (NYSE:ENB) (TSE:ENB) shares were up 1.6% during mid-day trading on Monday . The stock traded as high as $40.32 and last traded at $40.18. Approximately 4,767,500 shares changed hands during mid-day trading, a decline of 12% from the average daily volume of 5,393,788 shares. The stock had previously closed at $39.56.

Enbridge Trading Up 0.1 %

The company has a current ratio of 0.77, a quick ratio of 0.68 and a debt-to-equity ratio of 1.34. The firm has a market capitalization of $85.79 billion, a P/E ratio of 20.41, a PEG ratio of 3.90 and a beta of 0.92. The business has a 50 day moving average of $37.51 and a 200-day moving average of $36.27.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings data on Friday, August 2nd. The pipeline company reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.13. The company had revenue of $8.29 billion during the quarter, compared to the consensus estimate 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 prior year, the firm earned $0.51 earnings per share. Analysts anticipate that Enbridge Inc. will post 2.06 EPS for the current fiscal year.

Enbridge Cuts Dividend

The company also recently declared 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 dividend yield of 6.66%. The ex-dividend date of this dividend was Thursday, August 15th. Enbridge’s dividend payout ratio is 134.01%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of ENB. Rockwood Wealth Management LLC lifted its stake in Enbridge by 2.6% in the 2nd quarter. Rockwood Wealth Management LLC now owns 11,107 shares of the pipeline company’s stock valued at $395,000 after acquiring an additional 285 shares in the last quarter. Whittier Trust Co. of Nevada Inc. grew its stake in shares of Enbridge by 3.7% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 8,269 shares of the pipeline company’s stock worth $294,000 after acquiring an additional 298 shares in the last quarter. Nations Financial Group Inc. IA ADV raised its holdings in shares of Enbridge by 1.7% in the second quarter. Nations Financial Group Inc. IA ADV now owns 18,237 shares of the pipeline company’s stock valued at $649,000 after purchasing an additional 298 shares during the last quarter. Perigon Wealth Management LLC lifted its position in shares of Enbridge by 3.7% in the first quarter. Perigon Wealth Management LLC now owns 8,827 shares of the pipeline company’s stock worth $319,000 after purchasing an additional 314 shares in the last quarter. Finally, RFG Advisory LLC boosted its holdings in Enbridge by 2.3% during the second quarter. RFG Advisory LLC now owns 14,183 shares of the pipeline company’s stock worth $505,000 after purchasing an additional 325 shares during the last quarter. 54.60% of the stock is owned by institutional investors and hedge funds.

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.