Enbridge (NYSE:ENB) Stock Price Up 0.4%

Enbridge Inc. (NYSE:ENB) (TSE:ENB)’s stock price shot up 0.4% during mid-day trading on Monday . The stock traded as high as $40.76 and last traded at $40.69. 565,189 shares were traded during mid-day trading, a decline of 89% from the average session volume of 5,197,181 shares. The stock had previously closed at $40.52.

Enbridge Trading Up 0.9 %

The firm has a market capitalization of $87.23 billion, a PE ratio of 20.65, a PEG ratio of 3.91 and a beta of 0.94. 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 business has a fifty day moving average price of $38.79 and a two-hundred day moving average price of $36.81.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings data on Friday, August 2nd. The pipeline company reported $0.58 earnings per share (EPS) for the quarter, beating 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 return on equity of 10.07% and a net margin of 13.31%. During the same quarter last year, the business posted $0.51 EPS. Analysts expect that Enbridge Inc. will post 2.06 EPS for the current fiscal year.

Enbridge Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Thursday, August 15th were paid 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 6.55%. Enbridge’s dividend payout ratio (DPR) is presently 134.01%.

Hedge Funds Weigh In On Enbridge

Hedge funds have recently modified their holdings of the stock. Sei Investments Co. boosted its position in Enbridge by 6.1% during the first quarter. Sei Investments Co. now owns 274,235 shares of the pipeline company’s stock valued at $9,922,000 after purchasing an additional 15,650 shares during the last quarter. State Board of Administration of Florida Retirement System acquired a new position in shares of Enbridge in the 1st quarter worth approximately $1,133,000. CAP Partners LLC acquired a new position in shares of Enbridge in the 4th quarter worth approximately $391,000. Vanguard Group Inc. lifted its holdings in Enbridge by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 84,280,486 shares of the pipeline company’s stock worth $3,049,268,000 after buying an additional 1,227,031 shares in the last quarter. Finally, Parallel Advisors LLC raised its position in shares of Enbridge by 11.0% during the 4th quarter. Parallel Advisors LLC now owns 24,183 shares of the pipeline company’s stock valued at $871,000 after acquiring an additional 2,402 shares during the last quarter. 54.60% of the stock is currently 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.