Enbridge (NYSE:ENB) Trading Down 0.4%

Enbridge Inc. (NYSE:ENB) (TSE:ENB) was down 0.4% during mid-day trading on Thursday . The company traded as low as $40.16 and last traded at $40.36. Approximately 615,485 shares traded hands during trading, a decline of 88% from the average daily volume of 5,213,010 shares. The stock had previously closed at $40.52.

Enbridge Trading Down 0.6 %

The company has a market capitalization of $85.97 billion, a PE ratio of 20.49, a price-to-earnings-growth ratio of 3.91 and a beta of 0.94. 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 company’s fifty day moving average is $38.61 and its 200-day moving average is $36.72.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings results on Friday, August 2nd. The pipeline company reported $0.58 earnings per share (EPS) 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 the consensus estimate of $4.28 billion. Enbridge had a return on equity of 10.07% and a net margin of 13.31%. During the same period last year, the business posted $0.51 EPS. On average, analysts anticipate that Enbridge Inc. will post 2.06 EPS for the current fiscal year.

Enbridge Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Thursday, August 15th were issued a $0.669 dividend. 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 6.64%. Enbridge’s dividend payout ratio is presently 134.01%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Verity & Verity LLC boosted its holdings in Enbridge by 2.8% in the second quarter. Verity & Verity LLC now owns 455,531 shares of the pipeline company’s stock worth $16,212,000 after acquiring an additional 12,381 shares in the last quarter. Bluefin Capital Management LLC purchased a new stake in Enbridge during the 2nd quarter worth approximately $391,000. Heritage Wealth Management Inc. acquired a new position in Enbridge during the 2nd quarter valued at approximately $415,000. Sanctuary Advisors LLC purchased a new position in shares of Enbridge in the second quarter worth $5,837,000. Finally, Ghisallo Capital Management LLC acquired a new stake in shares of Enbridge during the second quarter worth $26,082,000. 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.