Enbridge (NYSE:ENB) Trading Up 0.8%

Shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) were up 0.8% during trading on Monday . The stock traded as high as $40.05 and last traded at $39.99. Approximately 944,338 shares changed hands during trading, a decline of 83% from the average daily volume of 5,432,148 shares. The stock had previously closed at $39.66.

Enbridge Stock Performance

The company has a debt-to-equity ratio of 1.35, a current ratio of 0.68 and a quick ratio of 0.59. The firm has a fifty day simple moving average of $37.00 and a 200 day simple moving average of $36.07. The company has a market cap of $84.02 billion, a price-to-earnings ratio of 19.99, a P/E/G ratio of 3.55 and a beta of 0.92.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings results on Friday, August 2nd. The pipeline company reported $0.58 EPS for the quarter, beating the consensus estimate of $0.45 by $0.13. The company had revenue of $8.29 billion for the quarter, compared to the consensus estimate of $4.28 billion. Enbridge had a return on equity of 10.53% and a net margin of 13.59%. During the same quarter last year, the company posted $0.51 earnings per share. On average, sell-side analysts expect that Enbridge Inc. will post 2.12 earnings per share for the current fiscal year.

Enbridge Cuts Dividend

The business also recently disclosed 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 of this dividend is Thursday, August 15th. This represents a $2.68 annualized dividend and a dividend yield of 6.80%. Enbridge’s payout ratio is 134.01%.

Institutional Investors Weigh In On Enbridge

Hedge funds and other institutional investors have recently modified their holdings of the stock. TruNorth Capital Management LLC acquired a new stake in shares of Enbridge in the second quarter worth $28,000. William B. Walkup & Associates Inc. acquired a new stake in shares of Enbridge in the second quarter worth $28,000. Ameritas Investment Partners Inc. acquired a new stake in Enbridge during the first quarter worth $29,000. Richardson Financial Services Inc. acquired a new stake in Enbridge during the first quarter worth $31,000. Finally, PFS Partners LLC boosted its stake in Enbridge by 95.8% during the first quarter. PFS Partners LLC now owns 922 shares of the pipeline company’s stock worth $33,000 after buying an additional 451 shares in the last quarter. Institutional investors and hedge funds 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.