Enbridge (NYSE:ENB) Shares Up 0.4%

Shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) rose 0.4% during trading on Monday . The stock traded as high as $40.76 and last traded at $40.69. Approximately 565,189 shares were traded 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 Up 0.9 %

The stock has a market cap of $87.23 billion, a P/E ratio of 20.65, a PEG ratio of 3.91 and a beta of 0.94. The company’s 50 day moving average price is $38.79 and its two-hundred day moving average price is $36.81. 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 announced its quarterly earnings data on Friday, August 2nd. The pipeline company reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.45 by $0.13. The business 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 period last year, the firm posted $0.51 EPS. Equities analysts forecast 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. Investors of record on Thursday, August 15th were issued a $0.669 dividend. The ex-dividend date was Thursday, August 15th. This represents a $2.68 annualized dividend and a dividend yield of 6.55%. Enbridge’s payout ratio is currently 134.01%.

Institutional Investors Weigh In On Enbridge

A number of large investors have recently modified their holdings of ENB. Vanguard Group Inc. boosted its position in Enbridge by 1.5% in the first quarter. Vanguard Group Inc. now owns 84,280,486 shares of the pipeline company’s stock valued at $3,049,268,000 after buying an additional 1,227,031 shares during the last quarter. TD Asset Management Inc boosted its position in Enbridge by 0.9% in the first quarter. TD Asset Management Inc now owns 38,087,489 shares of the pipeline company’s stock valued at $1,377,708,000 after buying an additional 337,729 shares during the last quarter. 1832 Asset Management L.P. boosted its position in Enbridge by 3.9% in the first quarter. 1832 Asset Management L.P. now owns 36,649,579 shares of the pipeline company’s stock valued at $1,325,982,000 after buying an additional 1,360,439 shares during the last quarter. Cibc World Market Inc. boosted its position in Enbridge by 12.8% in 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 purchasing an additional 3,693,495 shares in the last quarter. Finally, Bank of Nova Scotia boosted its position in Enbridge by 6.8% in the 4th quarter. Bank of Nova Scotia now owns 29,995,342 shares of the pipeline company’s stock worth $1,079,833,000 after purchasing an additional 1,910,302 shares in the last quarter. Hedge funds and other 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.