Enbridge (NYSE:ENB) Stock Price Up 0.5%

Enbridge Inc. (NYSE:ENB) (TSE:ENB)’s stock price was up 0.5% during trading on Monday . The company traded as high as $41.14 and last traded at $40.95. Approximately 712,406 shares traded hands during mid-day trading, a decline of 86% from the average daily volume of 5,246,172 shares. The stock had previously closed at $40.73.

Enbridge Price Performance

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 stock’s 50 day moving average price is $38.52 and its two-hundred day moving average price is $36.69. The firm has a market capitalization of $86.45 billion, a price-to-earnings ratio of 20.62, a PEG ratio of 3.91 and a beta of 0.94.

Enbridge (NYSE:ENB) (TSE:ENB) last released its earnings results on Friday, August 2nd. The pipeline company reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates of $0.45 by $0.13. The firm had revenue of $8.29 billion during the quarter, compared to analyst estimates 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 previous year, the business earned $0.51 EPS. On average, equities research analysts anticipate that Enbridge Inc. will post 2.06 EPS for the current year.

Enbridge Cuts Dividend

The firm 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. This represents a $2.68 dividend on an annualized basis and a yield of 6.60%. The ex-dividend date of this dividend was Thursday, August 15th. Enbridge’s dividend payout ratio (DPR) is currently 134.01%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Vanguard Group Inc. raised its stake in Enbridge by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 84,280,486 shares of the pipeline company’s stock valued at $3,049,268,000 after purchasing an additional 1,227,031 shares during the last quarter. TD Asset Management Inc increased its stake in Enbridge by 0.9% during the first quarter. TD Asset Management Inc now owns 38,087,489 shares of the pipeline company’s stock valued at $1,377,708,000 after acquiring an additional 337,729 shares during the period. 1832 Asset Management L.P. raised its holdings in Enbridge by 3.9% in the 1st quarter. 1832 Asset Management L.P. now owns 36,649,579 shares of the pipeline company’s stock valued at $1,325,982,000 after acquiring an additional 1,360,439 shares in the last quarter. Cibc World Market Inc. lifted its position in shares of Enbridge by 12.8% in the 2nd quarter. Cibc World Market Inc. now owns 32,531,675 shares of the pipeline company’s stock worth $1,157,802,000 after acquiring an additional 3,693,495 shares during the period. Finally, Bank of Nova Scotia lifted its position in shares of Enbridge by 6.8% in the 4th quarter. Bank of Nova Scotia now owns 29,995,342 shares of the pipeline company’s stock worth $1,079,833,000 after acquiring an additional 1,910,302 shares during the period. 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.