Enbridge (NYSE:ENB) Trading Down 0.1% – Time to Sell?

Shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) traded down 0.1% during trading on Thursday . The stock traded as low as $40.48 and last traded at $40.54. 386,948 shares changed hands during mid-day trading, a decline of 92% from the average session volume of 4,858,564 shares. The stock had previously closed at $40.59.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on ENB. Morgan Stanley initiated coverage on Enbridge in a research note on Friday, October 25th. They set an “equal weight” rating for the company. Jefferies Financial Group lowered shares of Enbridge from a “buy” rating to a “hold” rating in a report on Monday, September 30th.

Enbridge Price Performance

The company has a market capitalization of $86.38 billion, a price-to-earnings ratio of 20.52, a price-to-earnings-growth ratio of 4.00 and a beta of 0.93. The company has a 50-day moving average price of $40.69 and a 200-day moving average price of $37.87. 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) (TSE:ENB) last announced 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 net margin of 13.31% and a return on equity of 10.07%. The company had revenue of $8.29 billion for the quarter, compared to analysts’ expectations of $4.28 billion. During the same period last year, the firm posted $0.51 earnings per share. On average, equities research analysts expect that Enbridge Inc. will post 2.08 EPS for the current fiscal year.

Enbridge Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders of record on Friday, November 15th will be given a dividend of $0.676 per share. This is a positive change from Enbridge’s previous quarterly dividend of $0.67. This represents a $2.70 annualized dividend and a yield of 6.68%. The ex-dividend date of this dividend is Friday, November 15th. Enbridge’s dividend payout ratio is 134.01%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. TruNorth Capital Management LLC bought a new stake in shares of Enbridge during the 2nd quarter worth about $28,000. William B. Walkup & Associates Inc. acquired a new position in shares of Enbridge during the 2nd quarter worth approximately $28,000. Ameritas Investment Partners Inc. acquired a new stake in Enbridge during the first quarter worth approximately $29,000. Richardson Financial Services Inc. bought a new position in Enbridge during the 1st quarter worth $31,000. Finally, Grove Bank & Trust lifted its position in Enbridge by 56.7% during the third quarter. Grove Bank & Trust now owns 771 shares of the pipeline company’s stock worth $31,000 after purchasing an additional 279 shares during the period. 54.60% of the stock is currently owned by institutional investors.

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.