Enbridge (NYSE:ENB) Stock Price Up 0.6% – What’s Next?

Shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) traded up 0.6% on Tuesday . The stock traded as high as $43.87 and last traded at $43.63. 1,095,675 shares were traded during mid-day trading, a decline of 77% from the average session volume of 4,850,888 shares. The stock had previously closed at $43.36.

Analyst Upgrades and Downgrades

Several equities analysts have commented on ENB shares. Morgan Stanley assumed coverage on Enbridge in a research report on Friday, October 25th. They set an “equal weight” rating for the company. Wells Fargo & Company raised shares of Enbridge from an “underweight” rating to an “equal weight” rating in a research note on Wednesday, November 6th. Finally, Jefferies Financial Group downgraded shares of Enbridge from a “buy” rating to a “hold” rating in a research note on Monday, September 30th.

Enbridge Trading Up 0.8 %

The stock has a market cap of $95.20 billion, a PE ratio of 20.13, a price-to-earnings-growth ratio of 4.26 and a beta of 0.94. The firm has a 50-day moving average price of $41.62 and a 200-day moving average price of $38.89. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.54 and a current ratio of 0.62.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings results on Friday, November 1st. The pipeline company reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.40 by $0.15. Enbridge had a net margin of 13.54% and a return on equity of 9.94%. The firm had revenue of $10.91 billion for the quarter, compared to analysts’ expectations of $4.54 billion. During the same quarter in the prior year, the company posted $0.46 earnings per share. As a group, equities analysts anticipate that Enbridge Inc. will post 2.04 EPS for the current fiscal year.

Enbridge Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Sunday, December 1st. Stockholders of record on Friday, November 15th were issued a dividend of $0.676 per share. This is an increase from Enbridge’s previous quarterly dividend of $0.67. This represents a $2.70 dividend on an annualized basis and a dividend yield of 6.19%. The ex-dividend date of this dividend was Friday, November 15th. Enbridge’s dividend payout ratio is presently 121.76%.

Institutional Trading of Enbridge

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Cibc World Market Inc. boosted its stake in Enbridge by 12.8% during the second quarter. Cibc World Market Inc. now owns 32,531,675 shares of the pipeline company’s stock worth $1,157,802,000 after buying an additional 3,693,495 shares during the period. CIBC Asset Management Inc raised its position in Enbridge by 4.0% in the 3rd quarter. CIBC Asset Management Inc now owns 24,161,024 shares of the pipeline company’s stock worth $984,205,000 after purchasing an additional 936,863 shares during the period. Barrow Hanley Mewhinney & Strauss LLC lifted its stake in Enbridge by 3.7% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 23,083,951 shares of the pipeline company’s stock worth $821,331,000 after purchasing an additional 827,540 shares during the last quarter. Toronto Dominion Bank boosted its position in shares of Enbridge by 3.6% during the second quarter. Toronto Dominion Bank now owns 18,703,423 shares of the pipeline company’s stock valued at $665,655,000 after buying an additional 644,526 shares during the period. Finally, National Bank of Canada FI grew its stake in shares of Enbridge by 12.8% during the third quarter. National Bank of Canada FI now owns 18,163,353 shares of the pipeline company’s stock valued at $737,754,000 after buying an additional 2,061,758 shares during the last quarter. Hedge funds and other institutional investors 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.