Enbridge (NYSE:ENB) Trading Up 0.3%

Enbridge Inc. (NYSE:ENB) (TSE:ENB) shares were up 0.3% during mid-day trading on Friday . The stock traded as high as $40.69 and last traded at $40.60. Approximately 284,893 shares changed hands during mid-day trading, a decline of 95% from the average daily volume of 5,259,450 shares. The stock had previously closed at $40.49.

Enbridge Price Performance

The stock’s 50-day moving average price is $38.19 and its 200-day moving average price is $36.53. The company has a market capitalization of $88.58 billion, a price-to-earnings ratio of 20.60, a price-to-earnings-growth ratio of 3.91 and a beta of 0.94. The company has a quick ratio of 0.68, a current ratio of 0.77 and a debt-to-equity ratio of 1.34.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings data on Friday, August 2nd. The pipeline company reported $0.58 EPS for the quarter, topping analysts’ consensus estimates of $0.45 by $0.13. The business had revenue of $8.29 billion for 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 business posted $0.51 earnings per share. Equities research analysts anticipate that Enbridge Inc. will post 2.06 earnings per share for the current year.

Enbridge Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Thursday, August 15th were paid a $0.669 dividend. This represents a $2.68 dividend on an annualized basis and a dividend yield of 6.58%. The ex-dividend date of this dividend was Thursday, August 15th. Enbridge’s dividend payout ratio is currently 134.01%.

Institutional Investors Weigh In On Enbridge

Hedge funds have recently made changes to their positions in the business. Dimensional Fund Advisors LP raised its position in Enbridge by 3.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,348,064 shares of the pipeline company’s stock valued at $84,578,000 after purchasing an additional 72,129 shares during the last quarter. Vise Technologies Inc. boosted its stake in shares of Enbridge by 17.3% in the 4th quarter. Vise Technologies Inc. now owns 7,058 shares of the pipeline company’s stock worth $254,000 after buying an additional 1,040 shares during the last quarter. Beacon Pointe Advisors LLC grew its stake in shares of Enbridge by 37.2% during the 4th quarter. Beacon Pointe Advisors LLC now owns 361,487 shares of the pipeline company’s stock valued at $13,021,000 after purchasing an additional 98,067 shares during the period. Meridian Wealth Management LLC increased its holdings in Enbridge by 3.7% during the fourth quarter. Meridian Wealth Management LLC now owns 18,190 shares of the pipeline company’s stock valued at $656,000 after buying an additional 644 shares during the last quarter. Finally, Montrusco Bolton Investments Inc. grew its stake in shares of Enbridge by 25.2% during the 4th quarter. Montrusco Bolton Investments Inc. now owns 2,507,775 shares of the pipeline company’s stock valued at $90,718,000 after acquiring an additional 504,265 shares during the period. 54.60% of the stock is currently owned by 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.