Enbridge (NYSE:ENB) Shares Down 0.8%

Enbridge Inc. (NYSE:ENB) (TSE:ENB) dropped 0.8% during trading on Thursday . The stock traded as low as $40.53 and last traded at $40.76. Approximately 767,231 shares traded hands during trading, a decline of 85% from the average daily volume of 5,155,806 shares. The stock had previously closed at $41.09.

Enbridge Stock Performance

The stock’s 50 day moving average price is $39.09 and its two-hundred day moving average price is $36.91. 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 has a market capitalization of $87.15 billion, a price-to-earnings ratio of 20.69, a PEG 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 analysts’ consensus estimates of $0.45 by $0.13. The business had revenue of $8.29 billion for 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 in the prior year, the firm posted $0.51 EPS. On average, analysts forecast that Enbridge Inc. will post 2.08 EPS 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 given a $0.669 dividend. The ex-dividend date was Thursday, August 15th. This represents a $2.68 annualized dividend and a dividend yield of 6.55%. Enbridge’s dividend payout ratio is presently 134.01%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of ENB. Sei Investments Co. raised its stake in Enbridge by 6.1% in the 1st 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 purchased a new position in shares of Enbridge during the first quarter valued at approximately $1,133,000. Vanguard Group Inc. boosted its position in Enbridge by 1.5% during the first quarter. Vanguard Group Inc. now owns 84,280,486 shares of the pipeline company’s stock worth $3,049,268,000 after acquiring an additional 1,227,031 shares during the last quarter. Parallel Advisors LLC grew its stake in Enbridge by 11.0% in the 4th quarter. Parallel Advisors LLC now owns 24,183 shares of the pipeline company’s stock worth $871,000 after acquiring an additional 2,402 shares during the period. Finally, Sanibel Captiva Trust Company Inc. acquired a new position in Enbridge in the 4th quarter valued at $26,358,000. 54.60% of the stock is owned by hedge funds and other institutional investors.

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.