Enbridge (NYSE:ENB) Stock Price Up 0.1%

Enbridge Inc. (NYSE:ENB) (TSE:ENB)’s stock price was up 0.1% during trading on Thursday . The company traded as high as $40.41 and last traded at $40.27. Approximately 341,694 shares changed hands during mid-day trading, a decline of 94% from the average daily volume of 5,276,406 shares. The stock had previously closed at $40.24.

Enbridge Stock Performance

The firm has a market cap of $86.21 billion, a PE ratio of 20.44, a P/E/G ratio of 3.92 and a beta of 0.94. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.77 and a quick ratio of 0.68. The stock has a 50-day moving average price of $38.10 and a 200 day moving average price of $36.50.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings data on Friday, August 2nd. The pipeline company reported $0.58 EPS for the quarter, beating analysts’ consensus estimates of $0.45 by $0.13. The business had revenue of $8.29 billion during the quarter, compared to the consensus estimate 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 previous year, the business earned $0.51 earnings per share. Research analysts forecast that Enbridge Inc. will post 2.06 earnings per share for the current year.

Enbridge Cuts Dividend

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

Institutional Investors Weigh In On Enbridge

Institutional investors have recently added to or reduced their stakes in the company. Sei Investments Co. grew its position in Enbridge by 6.1% during the first quarter. Sei Investments Co. now owns 274,235 shares of the pipeline company’s stock valued at $9,922,000 after acquiring an additional 15,650 shares during the period. State Board of Administration of Florida Retirement System purchased a new stake in Enbridge during the first quarter valued at about $1,133,000. CAP Partners LLC acquired a new position in shares of Enbridge during the fourth quarter worth about $391,000. Vanguard Group Inc. lifted its stake in shares of 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 purchasing an additional 1,227,031 shares in the last quarter. Finally, Parallel Advisors LLC lifted its stake in shares of Enbridge by 11.0% during the fourth quarter. Parallel Advisors LLC now owns 24,183 shares of the pipeline company’s stock worth $871,000 after purchasing an additional 2,402 shares in the last quarter. Hedge funds and other institutional investors own 54.60% of the company’s stock.

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.