Enbridge (NYSE:ENB) Stock Price Down 1.1%

Shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) were down 1.1% on Tuesday . The stock traded as low as $39.65 and last traded at $39.75. Approximately 530,757 shares changed hands during trading, a decline of 90% from the average daily volume of 5,365,012 shares. The stock had previously closed at $40.18.

Enbridge Trading Up 0.1 %

The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.68 and a current ratio of 0.77. The firm has a market capitalization of $86.32 billion, a price-to-earnings ratio of 20.67, a P/E/G ratio of 3.90 and a beta of 0.92. The company has a 50 day moving average price of $37.61 and a two-hundred day moving average price of $36.30.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings data on Friday, August 2nd. The pipeline company reported $0.58 EPS for the quarter, beating the consensus estimate of $0.45 by $0.13. Enbridge had a return on equity of 10.07% and a net margin of 13.31%. The firm had revenue of $8.29 billion during the quarter, compared to the consensus estimate of $4.28 billion. During the same period in the prior year, the company earned $0.51 EPS. On average, research analysts forecast that Enbridge Inc. will post 2.06 EPS for the current year.

Enbridge Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Thursday, August 15th were paid a $0.669 dividend. This represents a $2.68 annualized dividend and a yield of 6.62%. The ex-dividend date of this dividend was Thursday, August 15th. Enbridge’s dividend payout ratio is currently 134.01%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in ENB. TruNorth Capital Management LLC acquired a new stake in shares of Enbridge in the 2nd quarter worth $28,000. William B. Walkup & Associates Inc. acquired a new stake in shares of Enbridge in the 2nd quarter worth $28,000. Ameritas Investment Partners Inc. acquired a new stake in shares of Enbridge in the 1st quarter worth $29,000. Richardson Financial Services Inc. acquired a new stake in shares of Enbridge in the 1st quarter worth $31,000. Finally, PFS Partners LLC increased its stake in shares of 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 acquiring an additional 451 shares during the last quarter. 54.60% of the stock is owned by institutional investors and hedge funds.

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.