Enbridge (NYSE:ENB) Trading 0.3% Higher

Enbridge Inc. (NYSE:ENB) (TSE:ENB) shares shot up 0.3% during mid-day trading on Thursday . The stock traded as high as $39.58 and last traded at $39.47. 259,001 shares traded hands during mid-day trading, a decline of 95% from the average session volume of 5,387,071 shares. The stock had previously closed at $39.37.

Enbridge Price Performance

The stock has a market capitalization of $84.42 billion, a P/E ratio of 20.04, a PEG ratio of 3.55 and a beta of 0.92. 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 business has a fifty day simple moving average of $37.00 and a 200-day simple moving average of $36.07.

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. The business had revenue of $8.29 billion for the quarter, compared to analyst estimates of $4.28 billion. Enbridge had a net margin of 13.59% and a return on equity of 10.53%. During the same period in the prior year, the firm earned $0.51 earnings per share. Sell-side analysts expect that Enbridge Inc. will post 2.12 earnings per share for the current fiscal year.

Enbridge Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Sunday, September 1st. Stockholders of record on Thursday, August 15th will be paid a $0.669 dividend. The ex-dividend date is Thursday, August 15th. This represents a $2.68 annualized dividend and a dividend yield of 6.76%. Enbridge’s dividend payout ratio is presently 134.01%.

Institutional Investors Weigh In On Enbridge

Several hedge funds and other institutional investors have recently modified their holdings of the company. Rockwood Wealth Management LLC grew its position in Enbridge by 2.6% in the 2nd quarter. Rockwood Wealth Management LLC now owns 11,107 shares of the pipeline company’s stock valued at $395,000 after purchasing an additional 285 shares during the period. Whittier Trust Co. of Nevada Inc. lifted its stake in shares of Enbridge by 3.7% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 8,269 shares of the pipeline company’s stock valued at $294,000 after buying an additional 298 shares in the last quarter. Nations Financial Group Inc. IA ADV grew its holdings in shares of Enbridge by 1.7% during the second quarter. Nations Financial Group Inc. IA ADV now owns 18,237 shares of the pipeline company’s stock valued at $649,000 after buying an additional 298 shares during the last quarter. Perigon Wealth Management LLC increased its position in shares of Enbridge by 3.7% during the first quarter. Perigon Wealth Management LLC now owns 8,827 shares of the pipeline company’s stock worth $319,000 after acquiring an additional 314 shares in the last quarter. Finally, Fifth Third Bancorp raised its holdings in shares of Enbridge by 0.4% in the 1st quarter. Fifth Third Bancorp now owns 86,751 shares of the pipeline company’s stock worth $3,139,000 after acquiring an additional 324 shares during the last quarter. Institutional investors own 54.60% of the company’s stock.

Enbridge Company Profile

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.