Enbridge (NYSE:ENB) Reaches New 1-Year High at $39.50

Enbridge Inc. (NYSE:ENB) (TSE:ENB) hit a new 52-week high on Wednesday . The stock traded as high as $39.50 and last traded at $39.37, with a volume of 270357 shares. The stock had previously closed at $39.37.

Enbridge Price Performance

The stock has a fifty day moving average of $36.26 and a 200 day moving average of $35.78. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.68 and a quick ratio of 0.59. The stock has a market cap of $84.35 billion, a price-to-earnings ratio of 19.99, a P/E/G ratio of 3.55 and a beta of 0.92.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings results on Friday, August 2nd. The pipeline company reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates of $0.45 by $0.13. Enbridge had a return on equity of 10.53% and a net margin of 13.59%. The business had revenue of $8.29 billion during the quarter, compared to analysts’ expectations of $4.28 billion. During the same period in the prior year, the business posted $0.51 EPS. On average, analysts expect that Enbridge Inc. will post 2.12 EPS for the current fiscal year.

Enbridge Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Sunday, September 1st. Investors of record on Thursday, August 15th will be issued a dividend of $0.669 per share. This represents a $2.68 dividend on an annualized basis and a yield of 6.77%. The ex-dividend date is Thursday, August 15th. Enbridge’s dividend payout ratio (DPR) is 134.01%.

Hedge Funds Weigh In On Enbridge

Hedge funds and other institutional investors have recently bought and sold shares of the company. Sei Investments Co. boosted its stake in shares of Enbridge by 6.1% in the 1st quarter. Sei Investments Co. now owns 274,235 shares of the pipeline company’s stock valued at $9,922,000 after buying an additional 15,650 shares during the period. State Board of Administration of Florida Retirement System purchased a new position in shares of Enbridge in the 1st quarter valued at about $1,133,000. Savant Capital LLC boosted its stake in shares of Enbridge by 23.1% in the 4th quarter. Savant Capital LLC now owns 21,547 shares of the pipeline company’s stock valued at $776,000 after buying an additional 4,049 shares during the period. CAP Partners LLC purchased a new position in shares of Enbridge in the 4th quarter valued at about $391,000. Finally, Cerity Partners LLC boosted its stake in shares of Enbridge by 41.7% in the 4th quarter. Cerity Partners LLC now owns 132,744 shares of the pipeline company’s stock valued at $4,781,000 after buying an additional 39,079 shares during the period. 54.60% of the stock is currently owned by hedge funds and other institutional investors.

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.