Enbridge (NYSE:ENB) Stock Price Up 0.8%

Enbridge Inc. (NYSE:ENB) (TSE:ENB) shares rose 0.8% on Thursday . The stock traded as high as $40.78 and last traded at $40.72. Approximately 598,575 shares traded hands during trading, a decline of 89% from the average daily volume of 5,341,356 shares. The stock had previously closed at $40.41.

Enbridge Stock Down 0.1 %

The company has a market cap of $86.19 billion, a P/E ratio of 20.51, a P/E/G ratio of 3.90 and a beta of 0.92. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.77 and a quick ratio of 0.68. The company’s 50-day moving average is $37.81 and its two-hundred day moving average is $36.37.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its earnings results on Friday, August 2nd. The pipeline company reported $0.58 EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $4.28 billion. During the same quarter in the previous year, the firm posted $0.51 EPS. As a group, equities analysts predict that Enbridge Inc. will post 2.06 earnings per share for the current fiscal 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 6.63%. The ex-dividend date of this dividend was Thursday, August 15th. Enbridge’s dividend payout ratio (DPR) is presently 134.01%.

Institutional Investors Weigh In On Enbridge

A number of large investors have recently added to or reduced their stakes in ENB. Rockwood Wealth Management LLC increased its holdings in Enbridge by 2.6% in the 2nd quarter. Rockwood Wealth Management LLC now owns 11,107 shares of the pipeline company’s stock valued at $395,000 after acquiring an additional 285 shares during the last quarter. Whittier Trust Co. of Nevada Inc. increased its holdings in Enbridge by 3.7% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 8,269 shares of the pipeline company’s stock valued at $294,000 after acquiring an additional 298 shares during the last quarter. Nations Financial Group Inc. IA ADV increased its holdings in Enbridge by 1.7% in the 2nd quarter. Nations Financial Group Inc. IA ADV now owns 18,237 shares of the pipeline company’s stock valued at $649,000 after acquiring an additional 298 shares during the last quarter. Perigon Wealth Management LLC increased its holdings in Enbridge by 3.7% in the 1st quarter. Perigon Wealth Management LLC now owns 8,827 shares of the pipeline company’s stock valued at $319,000 after acquiring an additional 314 shares during the last quarter. Finally, RFG Advisory LLC increased its holdings in Enbridge by 2.3% in the 2nd quarter. RFG Advisory LLC now owns 14,183 shares of the pipeline company’s stock valued at $505,000 after acquiring an additional 325 shares during the last quarter. 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.