Enbridge (NYSE:ENB) Stock Price Up 0.5%

Enbridge Inc. (NYSE:ENB) (TSE:ENB)’s stock price shot up 0.5% during mid-day trading on Monday . The company traded as high as $40.65 and last traded at $40.59. 667,492 shares traded hands during trading, a decline of 87% from the average session volume of 5,320,461 shares. The stock had previously closed at $40.39.

Enbridge Trading Down 0.0 %

The company has a quick ratio of 0.68, a current ratio of 0.77 and a debt-to-equity ratio of 1.34. The stock has a market capitalization of $85.87 billion, a P/E ratio of 20.43, a PEG ratio of 3.92 and a beta of 0.94. The firm’s 50-day simple moving average is $38.01 and its 200 day simple moving average is $36.48.

Enbridge (NYSE:ENB) (TSE:ENB) last released its earnings results on Friday, August 2nd. The pipeline company reported $0.58 EPS for the quarter, topping analysts’ consensus estimates of $0.45 by $0.13. The business had revenue of $8.29 billion for the quarter, compared to the consensus estimate of $4.28 billion. Enbridge had a net margin of 13.31% and a return on equity of 10.07%. During the same period in the previous year, the firm earned $0.51 EPS. Equities research analysts anticipate that Enbridge Inc. will post 2.06 EPS for the current fiscal year.

Enbridge Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Thursday, August 15th were paid a dividend of $0.669 per share. This represents a $2.68 annualized dividend and a dividend yield of 6.65%. The ex-dividend date of this dividend was Thursday, August 15th. Enbridge’s dividend payout ratio is presently 134.01%.

Institutional Investors Weigh In On Enbridge

A number of institutional investors and hedge funds have recently modified their holdings of ENB. TruNorth Capital Management LLC acquired a new stake in Enbridge during the 2nd quarter worth about $28,000. William B. Walkup & Associates Inc. purchased a new position in shares of Enbridge in the second quarter worth approximately $28,000. Ameritas Investment Partners Inc. acquired a new stake in shares of Enbridge during the first quarter valued at approximately $29,000. Richardson Financial Services Inc. purchased a new stake in shares of Enbridge in the 1st quarter valued at 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 during the period. 54.60% of the stock is owned by institutional investors and hedge funds.

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.