Enbridge (NYSE:ENB) Trading Down 0.1%

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

Enbridge Stock Performance

The firm’s 50 day moving average price is $38.61 and its 200-day moving average price is $36.72. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.77 and a quick ratio of 0.68. The firm has a market cap of $86.19 billion, a price-to-earnings ratio of 20.49, 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. The business had revenue of $8.29 billion during the quarter, compared to analyst estimates 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 prior year, the company posted $0.51 earnings per share. On average, analysts anticipate that Enbridge Inc. will post 2.06 earnings per share for the current year.

Enbridge Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Thursday, August 15th were issued a dividend of $0.669 per share. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $2.68 dividend on an annualized basis and a yield of 6.63%. Enbridge’s dividend payout ratio is 134.01%.

Hedge Funds Weigh In On Enbridge

A number of large investors have recently modified their holdings of the stock. TruNorth Capital Management LLC bought a new stake in shares of Enbridge during the second quarter worth approximately $28,000. William B. Walkup & Associates Inc. bought a new position in Enbridge during the 2nd quarter worth approximately $28,000. Ameritas Investment Partners Inc. acquired a new position in Enbridge during the first quarter valued at approximately $29,000. Richardson Financial Services Inc. bought a new stake in Enbridge in the first quarter valued at approximately $31,000. Finally, PFS Partners LLC boosted its position in shares of Enbridge by 95.8% during the first quarter. PFS Partners LLC now owns 922 shares of the pipeline company’s stock worth $33,000 after purchasing an additional 451 shares in 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.