Enbridge (NYSE:ENB) Shares Up 0.4%

Enbridge Inc. (NYSE:ENB) (TSE:ENB) shares shot up 0.4% on Wednesday . The stock traded as high as $41.09 and last traded at $41.02. 632,278 shares were traded during trading, a decline of 88% from the average session volume of 5,167,518 shares. The stock had previously closed at $40.86.

Enbridge Stock Performance

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 firm’s 50-day moving average is $38.99 and its two-hundred day moving average is $36.89. The stock has a market cap of $89.30 billion, a price-to-earnings ratio of 20.82, a P/E/G ratio of 3.93 and a beta of 0.94.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings results on Friday, August 2nd. The pipeline company reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.13. Enbridge had a net margin of 13.31% and a return on equity of 10.07%. The firm had revenue of $8.29 billion during the quarter, compared to the consensus estimate of $4.28 billion. During the same quarter in the prior year, the firm earned $0.51 EPS. As a group, sell-side analysts expect that Enbridge Inc. will post 2.08 earnings per share for the current year.

Enbridge Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Investors 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 annualized dividend and a yield of 6.53%. Enbridge’s dividend payout ratio is presently 134.01%.

Institutional Trading of Enbridge

Hedge funds have recently made changes to their positions in the company. TruNorth Capital Management LLC purchased a new position in shares of Enbridge during the 2nd quarter worth approximately $28,000. William B. Walkup & Associates Inc. purchased a new position in Enbridge in the 2nd quarter valued at approximately $28,000. Ameritas Investment Partners Inc. purchased a new position in Enbridge in the 1st quarter valued at approximately $29,000. Richardson Financial Services Inc. purchased a new position in Enbridge in the 1st quarter valued at approximately $31,000. Finally, PFS Partners LLC boosted its position in Enbridge by 95.8% in the 1st quarter. PFS Partners LLC now owns 922 shares of the pipeline company’s stock valued at $33,000 after buying an additional 451 shares during the period. Hedge funds and other institutional investors own 54.60% of the company’s stock.

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.