Enbridge (NYSE:ENB) Shares Up 0.4%

Enbridge Inc. (NYSE:ENB) (TSE:ENB) shares shot up 0.4% during mid-day trading on Wednesday . The stock traded as high as $41.09 and last traded at $41.02. 632,278 shares traded hands during mid-day trading, a decline of 88% from the average session volume of 5,167,518 shares. The stock had previously closed at $40.86.

Enbridge Stock Performance

The company has a 50-day moving average of $38.99 and a 200 day moving average of $36.89. 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 firm has a market capitalization of $89.30 billion, a PE ratio of 20.82, a PEG ratio of 3.93 and a beta of 0.94.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its earnings results on Friday, August 2nd. The pipeline company reported $0.58 EPS for the quarter, topping 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 business had revenue of $8.29 billion during the quarter, compared to analysts’ expectations of $4.28 billion. During the same period in the previous year, the business earned $0.51 earnings per share. Equities research analysts predict that Enbridge Inc. will post 2.08 EPS for the current year.

Enbridge Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Thursday, August 15th were issued a dividend of $0.669 per share. The ex-dividend date was Thursday, August 15th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 6.53%. Enbridge’s dividend payout ratio (DPR) is 134.01%.

Institutional Trading of Enbridge

Institutional investors have recently added to or reduced their stakes in the business. Rockwood Wealth Management LLC grew its position in shares of Enbridge by 2.6% during the second quarter. Rockwood Wealth Management LLC now owns 11,107 shares of the pipeline company’s stock valued at $395,000 after purchasing an additional 285 shares in the last quarter. Whittier Trust Co. of Nevada Inc. grew its position in Enbridge by 3.7% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 8,269 shares of the pipeline company’s stock worth $294,000 after acquiring an additional 298 shares in the last quarter. Nations Financial Group Inc. IA ADV grew its position in Enbridge by 1.7% in the second quarter. Nations Financial Group Inc. IA ADV now owns 18,237 shares of the pipeline company’s stock worth $649,000 after acquiring an additional 298 shares in the last quarter. Perigon Wealth Management LLC grew its position in Enbridge by 3.7% in the first quarter. Perigon Wealth Management LLC now owns 8,827 shares of the pipeline company’s stock worth $319,000 after acquiring an additional 314 shares in the last quarter. Finally, RFG Advisory LLC grew its position in Enbridge by 2.3% in the second quarter. RFG Advisory LLC now owns 14,183 shares of the pipeline company’s stock worth $505,000 after acquiring an additional 325 shares in the last quarter. 54.60% of the stock is currently owned by hedge funds and other institutional investors.

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.