Enbridge (NYSE:ENB) Shares Down 0.4%

Shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) fell 0.4% on Thursday . The company traded as low as $40.16 and last traded at $40.36. 615,485 shares traded hands during mid-day trading, a decline of 88% from the average session volume of 5,213,010 shares. The stock had previously closed at $40.52.

Enbridge Stock Performance

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 $85.97 billion, a PE ratio of 20.49, a PEG ratio of 3.91 and a beta of 0.94. The firm has a 50 day moving average price of $38.61 and a 200-day moving average price of $36.72.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings results on Friday, August 2nd. The pipeline company reported $0.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.45 by $0.13. The company had revenue of $8.29 billion during the quarter, compared to analyst estimates of $4.28 billion. Enbridge had a net margin of 13.31% and a return on equity of 10.07%. During the same period last year, the firm posted $0.51 EPS. Research analysts expect that Enbridge Inc. will post 2.06 EPS for the current fiscal year.

Enbridge Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Thursday, August 15th were issued a $0.669 dividend. This represents a $2.68 annualized dividend and a yield of 6.64%. The ex-dividend date was Thursday, August 15th. Enbridge’s payout ratio is 134.01%.

Hedge Funds Weigh In On Enbridge

A number of institutional investors have recently modified their holdings of the stock. Verity & Verity LLC grew its holdings in Enbridge by 2.8% during the second quarter. Verity & Verity LLC now owns 455,531 shares of the pipeline company’s stock worth $16,212,000 after acquiring an additional 12,381 shares during the period. Bluefin Capital Management LLC purchased a new stake in Enbridge in the 2nd quarter worth approximately $391,000. Heritage Wealth Management Inc. acquired a new stake in shares of Enbridge during the 2nd quarter worth approximately $415,000. Sanctuary Advisors LLC acquired a new position in shares of Enbridge in the 2nd quarter valued at $5,837,000. Finally, Ghisallo Capital Management LLC purchased a new position in shares of Enbridge in the 2nd quarter valued at about $26,082,000. 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.