Enbridge (NYSE:ENB) Stock Price Down 0.5%

Enbridge Inc. (NYSE:ENB) (TSE:ENB)’s stock price fell 0.5% during mid-day trading on Wednesday . The company traded as low as $40.62 and last traded at $40.63. 471,805 shares changed hands during trading, a decline of 91% from the average session volume of 5,221,767 shares. The stock had previously closed at $40.82.

Enbridge Stock Performance

The stock’s 50-day moving average is $38.52 and its 200-day moving average is $36.69. 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 stock has a market cap of $86.68 billion, a price-to-earnings ratio of 20.62, a P/E/G ratio of 3.91 and a beta of 0.94.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its earnings results on Friday, August 2nd. The pipeline company reported $0.58 EPS for the quarter, beating analysts’ consensus estimates of $0.45 by $0.13. Enbridge had a net margin of 13.31% and a return on equity of 10.07%. The business had revenue of $8.29 billion for the quarter, compared to the consensus estimate of $4.28 billion. During the same quarter last year, the firm posted $0.51 EPS. On average, analysts expect that Enbridge Inc. will post 2.06 EPS for the current year.

Enbridge Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Thursday, August 15th were given a $0.669 dividend. This represents a $2.68 annualized dividend and a dividend yield of 6.59%. The ex-dividend date of this dividend was Thursday, August 15th. Enbridge’s payout ratio is 134.01%.

Institutional Trading of Enbridge

A number of hedge funds have recently made changes to their positions in ENB. TruNorth Capital Management LLC acquired a new position in shares of Enbridge in the 2nd quarter worth approximately $28,000. William B. Walkup & Associates Inc. acquired a new position in Enbridge during the 2nd quarter valued at approximately $28,000. Ameritas Investment Partners Inc. bought a new stake in Enbridge in the first quarter valued at $29,000. Richardson Financial Services Inc. acquired a new stake in shares of Enbridge in the 1st quarter worth about $31,000. Finally, PFS Partners LLC grew its position in Enbridge by 95.8% in the 1st quarter. PFS Partners LLC now owns 922 shares of the pipeline company’s stock worth $33,000 after purchasing an additional 451 shares during the last quarter. 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.