Enbridge (NYSE:ENB) Trading 0.4% Higher

Enbridge Inc. (NYSE:ENB) (TSE:ENB)’s share price rose 0.4% on Monday . The stock traded as high as $40.76 and last traded at $40.69. Approximately 565,189 shares changed hands during trading, a decline of 89% from the average daily volume of 5,197,181 shares. The stock had previously closed at $40.52.

Enbridge Stock Performance

The company has a market capitalization of $89.47 billion, a P/E ratio of 20.84, a PEG ratio of 3.93 and a beta of 0.94. The stock’s fifty day moving average price is $38.99 and its 200-day moving average price is $36.89. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.68 and a current ratio of 0.77.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings data on Friday, August 2nd. The pipeline company reported $0.58 EPS for the quarter, beating the consensus estimate of $0.45 by $0.13. Enbridge had a net margin of 13.31% and a return on equity of 10.07%. The firm had revenue of $8.29 billion for the quarter, compared to the consensus estimate of $4.28 billion. During the same period in the previous year, the company earned $0.51 earnings per share. As a group, research analysts anticipate that Enbridge Inc. will post 2.08 EPS for the current fiscal year.

Enbridge Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Thursday, August 15th were given a dividend of $0.669 per share. This represents a $2.68 dividend on an annualized basis and a yield of 6.51%. The ex-dividend date of this dividend was Thursday, August 15th. Enbridge’s dividend payout ratio is 134.01%.

Institutional Trading of Enbridge

A number of institutional investors have recently bought and sold shares of the business. TD Asset Management Inc increased its position in shares of Enbridge by 24.9% in the fourth quarter. TD Asset Management Inc now owns 37,749,760 shares of the pipeline company’s stock worth $1,365,583,000 after purchasing an additional 7,536,678 shares during the period. M&G Plc acquired a new position in shares of Enbridge in the 1st quarter valued at approximately $152,843,000. Cibc World Market Inc. lifted its holdings in shares of Enbridge by 12.8% during the 2nd quarter. Cibc World Market Inc. now owns 32,531,675 shares of the pipeline company’s stock worth $1,157,802,000 after acquiring an additional 3,693,495 shares during the period. Canada Pension Plan Investment Board boosted its position in shares of Enbridge by 66.9% during the 1st quarter. Canada Pension Plan Investment Board now owns 9,044,864 shares of the pipeline company’s stock worth $327,172,000 after acquiring an additional 3,624,089 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its stake in Enbridge by 15.2% in the fourth quarter. The Manufacturers Life Insurance Company now owns 21,932,752 shares of the pipeline company’s stock valued at $790,785,000 after acquiring an additional 2,895,742 shares during the last quarter. 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.