Enbridge (NYSE:ENB) Shares Up 0.3%

Shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) shot up 0.3% during mid-day trading on Tuesday . The company traded as high as $41.08 and last traded at $41.02. 399,045 shares traded hands 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 Stock Performance

The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.68 and a current ratio of 0.77. The company has a market capitalization of $87.32 billion, a price-to-earnings ratio of 20.82, a P/E/G ratio of 3.91 and a beta of 0.94. The stock’s 50-day moving average price is $38.89 and its 200-day moving average price is $36.85.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings data 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. Enbridge had a return on equity of 10.07% and a net margin of 13.31%. The firm had revenue of $8.29 billion during the quarter, compared to the consensus estimate of $4.28 billion. During the same period in the previous year, the firm posted $0.51 EPS. As a group, equities research analysts expect that Enbridge Inc. will post 2.06 earnings per share for the current year.

Enbridge Cuts Dividend

The business also recently disclosed 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 of this dividend was Thursday, August 15th. This represents a $2.68 annualized dividend and a dividend yield of 6.54%. Enbridge’s dividend payout ratio is currently 134.01%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of ENB. TD Asset Management Inc raised its holdings in Enbridge by 24.9% in the 4th quarter. TD Asset Management Inc now owns 37,749,760 shares of the pipeline company’s stock valued at $1,365,583,000 after acquiring an additional 7,536,678 shares during the last quarter. M&G Plc purchased a new stake in shares of Enbridge during the 1st quarter valued at $152,843,000. Cibc World Market Inc. grew its stake 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 valued at $1,157,802,000 after buying an additional 3,693,495 shares during the period. Canada Pension Plan Investment Board grew its stake 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 valued at $327,172,000 after buying an additional 3,624,089 shares during the period. Finally, The Manufacturers Life Insurance Company grew its stake in shares of Enbridge by 15.2% during the 4th quarter. The Manufacturers Life Insurance Company now owns 21,932,752 shares of the pipeline company’s stock valued at $790,785,000 after buying an additional 2,895,742 shares during the period. 54.60% of the stock is currently owned by institutional investors and hedge funds.

Enbridge Company Profile

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.