Enbridge (NYSE:ENB) Trading 0% Higher – Here’s What Happened

Enbridge Inc. (NYSE:ENB) (TSE:ENB) was up 0% on Thursday . The company traded as high as $41.48 and last traded at $41.24. Approximately 506,734 shares were traded during trading, a decline of 90% from the average daily volume of 4,910,591 shares. The stock had previously closed at $41.22.

Analyst Ratings Changes

Separately, Jefferies Financial Group lowered Enbridge from a “buy” rating to a “hold” rating in a research report on Monday, September 30th.

Enbridge Stock Down 0.6 %

The company has a quick ratio of 0.68, a current ratio of 0.77 and a debt-to-equity ratio of 1.34. The firm has a market capitalization of $87.43 billion, a price-to-earnings ratio of 20.93, a P/E/G ratio of 3.94 and a beta of 0.93. The stock has a 50 day moving average of $40.50 and a 200 day moving average of $37.66.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its earnings results on Friday, August 2nd. The pipeline company reported $0.58 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 company had revenue of $8.29 billion during the quarter, compared to analyst estimates of $4.28 billion. During the same quarter last year, the firm earned $0.51 EPS. As a group, analysts expect that Enbridge Inc. will post 2.08 earnings per share for the current fiscal year.

Enbridge Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Thursday, August 15th were issued a dividend of $0.669 per share. The ex-dividend date was Thursday, August 15th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 6.53%. Enbridge’s dividend payout ratio (DPR) is 134.01%.

Hedge Funds Weigh In On Enbridge

A number of hedge funds and other institutional investors have recently bought and sold shares of ENB. TruNorth Capital Management LLC acquired a new position in Enbridge during the 2nd quarter valued at approximately $28,000. William B. Walkup & Associates Inc. bought a new position in shares of Enbridge during the second quarter worth about $28,000. Ameritas Investment Partners Inc. acquired a new stake in shares of Enbridge in the 1st quarter worth about $29,000. Richardson Financial Services Inc. acquired a new stake in shares of Enbridge in the 1st quarter worth about $31,000. Finally, Grove Bank & Trust lifted its position in Enbridge by 56.7% in the 3rd quarter. Grove Bank & Trust now owns 771 shares of the pipeline company’s stock valued at $31,000 after purchasing an additional 279 shares during 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.