Enbridge Inc. (NYSE:ENB – Get Free Report) TSE: ENB’s stock price shot up 0.5% on Monday . The stock traded as high as $41.14 and last traded at $40.95. 712,406 shares traded hands during mid-day trading, a decline of 86% from the average session volume of 5,246,172 shares. The stock had previously closed at $40.73.
Enbridge Stock Performance
The firm’s 50 day moving average price is $38.29 and its two-hundred day moving average price is $36.60. The firm has a market cap of $87.66 billion, a PE ratio of 20.79, a PEG ratio of 3.91 and a beta of 0.94. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.68 and a current ratio of 0.77.
Enbridge (NYSE:ENB – Get Free Report) TSE: ENB last issued its quarterly earnings data on Friday, August 2nd. The pipeline company reported $0.58 earnings per share 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 company had revenue of $8.29 billion during the quarter, compared to analyst estimates of $4.28 billion. During the same period in the prior year, the business posted $0.51 earnings per share. On average, research analysts forecast 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 issued a $0.669 dividend. The ex-dividend date was Thursday, August 15th. This represents a $2.68 annualized dividend and a yield of 6.51%. Enbridge’s dividend payout ratio (DPR) is currently 134.01%.
Institutional Investors Weigh In On Enbridge
Institutional investors have recently made changes to their positions in the stock. Norges Bank purchased a new position in shares of Enbridge during the 4th quarter worth approximately $714,662,000. TD Asset Management Inc grew its stake in shares of Enbridge by 24.9% in the fourth quarter. TD Asset Management Inc now owns 37,749,760 shares of the pipeline company’s stock valued at $1,365,583,000 after buying an additional 7,536,678 shares in the last quarter. M&G Plc purchased a new stake in shares of Enbridge in the 1st quarter valued at $152,843,000. Cibc World Market Inc. raised its holdings in shares of Enbridge by 12.8% in 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. Finally, Canada Pension Plan Investment Board lifted its stake in 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 worth $327,172,000 after acquiring an additional 3,624,089 shares in the last quarter. 54.60% of the stock is currently owned by institutional investors and hedge funds.
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.