Enbridge (NYSE:ENB) Shares Down 0.3%

Enbridge Inc. (NYSE:ENB) (TSE:ENB)’s stock price was down 0.3% on Friday . The company traded as low as $40.15 and last traded at $40.28. Approximately 426,761 shares changed hands during mid-day trading, a decline of 92% from the average daily volume of 5,204,931 shares. The stock had previously closed at $40.39.

Enbridge Stock Up 0.1 %

The business has a 50-day simple moving average of $38.70 and a two-hundred day simple moving average of $36.75. The stock has a market capitalization of $86.29 billion, a P/E ratio of 20.45, a PEG 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 posted 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 company had revenue of $8.29 billion for the quarter, compared to analyst estimates of $4.28 billion. Enbridge had a return on equity of 10.07% and a net margin of 13.31%. During the same quarter in the previous year, the firm earned $0.51 earnings per share. Equities research analysts forecast that Enbridge Inc. will post 2.06 earnings per share for the current fiscal year.

Enbridge Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Thursday, August 15th were paid a dividend of $0.669 per share. This represents a $2.68 annualized dividend and a dividend yield of 6.62%. The ex-dividend date of this dividend was Thursday, August 15th. Enbridge’s dividend payout ratio (DPR) is presently 134.01%.

Hedge Funds Weigh In On Enbridge

Large investors have recently made changes to their positions in the company. Verity & Verity LLC increased its holdings in shares of Enbridge by 2.8% in the second quarter. Verity & Verity LLC now owns 455,531 shares of the pipeline company’s stock worth $16,212,000 after acquiring an additional 12,381 shares in the last quarter. Bluefin Capital Management LLC bought a new position in shares of Enbridge during the second quarter worth about $391,000. Heritage Wealth Management Inc. bought a new position in shares of Enbridge during the second quarter worth about $415,000. Sanctuary Advisors LLC bought a new position in shares of Enbridge during the second quarter worth about $5,837,000. Finally, Ghisallo Capital Management LLC bought a new position in shares of Enbridge during the second quarter worth about $26,082,000. Institutional investors and hedge funds own 54.60% of the company’s stock.

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.