Short Interest in Enbridge Inc. (NYSE:ENB) Rises By 58.4%

Enbridge Inc. (NYSE:ENB) (TSE:ENB) was the target of a significant growth in short interest in the month of July. As of July 31st, there was short interest totalling 25,060,000 shares, a growth of 58.4% from the July 15th total of 15,820,000 shares. Based on an average daily volume of 5,060,000 shares, the short-interest ratio is currently 5.0 days. Approximately 1.2% of the company’s shares are sold short.

Hedge Funds Weigh In On Enbridge

Several institutional investors have recently added to or reduced their stakes in ENB. BOK Financial Private Wealth Inc. acquired a new position in shares of Enbridge during the fourth quarter worth approximately $25,000. Tennessee Valley Asset Management Partners acquired a new position in Enbridge during the 4th quarter valued at about $28,000. TruNorth Capital Management LLC bought a new stake in Enbridge during the 2nd quarter worth approximately $28,000. William B. Walkup & Associates Inc. purchased a new stake in shares of Enbridge in the second quarter worth approximately $28,000. Finally, Ameritas Investment Partners Inc. bought a new position in shares of Enbridge in the first quarter valued at approximately $29,000. 54.60% of the stock is owned by institutional investors and hedge funds.

Enbridge Trading Up 0.4 %

NYSE:ENB traded up $0.15 during trading hours on Friday, hitting $38.72. 3,323,429 shares of the company were exchanged, compared to its average volume of 5,453,265. The company has a fifty day simple moving average of $36.37 and a 200 day simple moving average of $35.82. Enbridge has a one year low of $31.03 and a one year high of $39.72. The stock has a market capitalization of $82.61 billion, a price-to-earnings ratio of 19.64, a price-to-earnings-growth ratio of 3.55 and a beta of 0.92. The company has a current ratio of 0.68, a quick ratio of 0.59 and a debt-to-equity ratio of 1.35.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings data on Friday, August 2nd. The pipeline company reported $0.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.45 by $0.13. Enbridge had a return on equity of 10.53% and a net margin of 13.59%. The company had revenue of $8.29 billion during the quarter, compared to the consensus estimate of $4.28 billion. During the same period last year, the company earned $0.51 earnings per share. Sell-side analysts expect that Enbridge will post 2.12 EPS for the current fiscal year.

Enbridge Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Sunday, September 1st. Investors of record on Thursday, August 15th will be issued a $0.669 dividend. The ex-dividend date is Thursday, August 15th. This represents a $2.68 annualized dividend and a yield of 6.91%. Enbridge’s payout ratio is 134.01%.

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.