Enbridge (NYSE:ENB) Trading Down 2.3%

Enbridge Inc. (NYSE:ENB) (TSE:ENB)’s share price was down 2.3% during mid-day trading on Thursday . The stock traded as low as $38.49 and last traded at $38.62. Approximately 518,543 shares were traded during trading, a decline of 90% from the average daily volume of 5,444,004 shares. The stock had previously closed at $39.54.

Enbridge Trading Down 2.5 %

The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.59 and a current ratio of 0.68. The company’s fifty day simple moving average is $36.33 and its 200-day simple moving average is $35.81. The company has a market capitalization of $82.28 billion, a P/E ratio of 20.07, a PEG ratio of 3.55 and a beta of 0.92.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its earnings results on Friday, August 2nd. The pipeline company reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.13. Enbridge had a net margin of 13.59% and a return on equity of 10.53%. The company had revenue of $8.29 billion for the quarter, compared to analysts’ expectations of $4.28 billion. During the same period in the prior year, the business earned $0.51 EPS. Research analysts predict that Enbridge Inc. will post 2.12 earnings per share for the current year.

Enbridge Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Sunday, September 1st. Stockholders of record on Thursday, August 15th will be issued a $0.669 dividend. This represents a $2.68 dividend on an annualized basis and a dividend yield of 6.94%. The ex-dividend date is Thursday, August 15th. Enbridge’s dividend payout ratio is currently 134.01%.

Institutional Trading of Enbridge

A number of institutional investors have recently modified their holdings of ENB. Tennessee Valley Asset Management Partners bought a new stake in shares of Enbridge in the 4th quarter valued at about $28,000. TruNorth Capital Management LLC acquired a new stake in Enbridge in the 2nd quarter worth approximately $28,000. Ameritas Investment Partners Inc. acquired a new stake in Enbridge in the 1st quarter worth approximately $29,000. Richardson Financial Services Inc. acquired a new stake in Enbridge in the 1st quarter worth approximately $31,000. Finally, PFS Partners LLC boosted its stake in Enbridge by 95.8% in the 1st quarter. PFS Partners LLC now owns 922 shares of the pipeline company’s stock worth $33,000 after purchasing an additional 451 shares in the last quarter. 54.60% of the stock is currently owned by 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.