Enbridge (NYSE:ENB) Shares Down 0.2%

Shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) dropped 0.2% on Friday . The stock traded as low as $40.31 and last traded at $40.35. Approximately 546,528 shares changed hands during mid-day trading, a decline of 90% from the average daily volume of 5,330,018 shares. The stock had previously closed at $40.45.

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 $85.95 billion, a P/E ratio of 20.48, a P/E/G ratio of 3.90 and a beta of 0.92. The business has a fifty day moving average price of $37.71 and a 200-day moving average price of $36.33.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its earnings results on Friday, August 2nd. The pipeline company reported $0.58 earnings per share (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 business had revenue of $8.29 billion for the quarter, compared to analysts’ expectations of $4.28 billion. During the same quarter in the prior year, the business earned $0.51 EPS. On average, sell-side analysts expect that Enbridge Inc. will post 2.06 EPS for the current year.

Enbridge Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Thursday, August 15th were given a $0.669 dividend. This represents a $2.68 dividend on an annualized basis and a yield of 6.64%. The ex-dividend date was Thursday, August 15th. Enbridge’s dividend payout ratio (DPR) is presently 134.01%.

Hedge Funds Weigh In On Enbridge

Institutional investors and hedge funds have recently modified their holdings of the company. TruNorth Capital Management LLC bought a new position in Enbridge in the second quarter valued at about $28,000. William B. Walkup & Associates Inc. bought a new position in shares of Enbridge in the 2nd quarter worth approximately $28,000. Ameritas Investment Partners Inc. purchased a new position in shares of Enbridge in the first quarter worth approximately $29,000. Richardson Financial Services Inc. bought a new stake in Enbridge during the first quarter valued at approximately $31,000. Finally, PFS Partners LLC increased its holdings in Enbridge by 95.8% during the first quarter. PFS Partners LLC now owns 922 shares of the pipeline company’s stock valued at $33,000 after buying an additional 451 shares during 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.