Enbridge (NYSE:ENB) Trading 0.3% Higher

Enbridge Inc. (NYSE:ENB) (TSE:ENB) shares traded up 0.3% on Tuesday . The company traded as high as $41.08 and last traded at $41.02. 399,045 shares were traded during trading, a decline of 92% from the average session volume of 5,182,382 shares. The stock had previously closed at $40.88.

Enbridge Price Performance

The company’s fifty day simple moving average is $39.09 and its 200-day simple moving average is $36.91. The stock has a market cap of $87.02 billion, a P/E ratio of 20.69, a price-to-earnings-growth ratio of 3.93 and a beta of 0.94. The company has a current ratio of 0.77, a quick ratio of 0.68 and a debt-to-equity ratio of 1.34.

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 the consensus estimate of $0.45 by $0.13. The firm 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 quarter in the prior year, the business posted $0.51 earnings per share. As a group, sell-side analysts forecast that Enbridge Inc. will post 2.08 EPS for the current year.

Enbridge Cuts Dividend

The business also recently announced 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. The ex-dividend date was Thursday, August 15th. This represents a $2.68 annualized dividend and a dividend yield of 6.56%. Enbridge’s dividend payout ratio (DPR) is presently 134.01%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. TruNorth Capital Management LLC bought a new stake in shares of Enbridge in the 2nd quarter worth about $28,000. William B. Walkup & Associates Inc. bought a new stake in Enbridge during the 2nd quarter worth approximately $28,000. Ameritas Investment Partners Inc. acquired a new stake in Enbridge during the 1st quarter valued at $29,000. Richardson Financial Services Inc. bought a new position in Enbridge in the 1st quarter valued at $31,000. Finally, PFS Partners LLC boosted its stake in Enbridge by 95.8% in the first quarter. PFS Partners LLC now owns 922 shares of the pipeline company’s stock worth $33,000 after purchasing an additional 451 shares in the last quarter. 54.60% of the stock is currently owned by institutional investors and hedge funds.

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.