Enbridge (NYSE:ENB) Shares Up 0.2% – Here’s What Happened

Shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) shot up 0.2% during mid-day trading on Wednesday . The company traded as high as $42.78 and last traded at $42.77. 672,220 shares were traded during trading, a decline of 86% from the average session volume of 4,846,726 shares. The stock had previously closed at $42.70.

Wall Street Analysts Forecast Growth

ENB has been the topic of a number of recent analyst reports. Jefferies Financial Group lowered shares of Enbridge from a “buy” rating to a “hold” rating in a research report on Monday, September 30th. Wells Fargo & Company raised shares of Enbridge from an “underweight” rating to an “equal weight” rating in a research report on Wednesday, November 6th. Finally, Morgan Stanley began coverage on Enbridge in a research note on Friday, October 25th. They issued an “equal weight” rating on the stock.

Enbridge Stock Up 0.3 %

The company has a debt-to-equity ratio of 1.41, a current ratio of 0.62 and a quick ratio of 0.54. The stock’s 50 day simple moving average is $41.47 and its two-hundred day simple moving average is $38.76. The firm has a market cap of $93.31 billion, a P/E ratio of 19.80, a P/E/G ratio of 4.18 and a beta of 0.93.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its earnings results on Friday, November 1st. The pipeline company reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.40 by $0.15. Enbridge had a return on equity of 9.94% and a net margin of 13.54%. The business had revenue of $10.91 billion during the quarter, compared to analyst estimates of $4.54 billion. During the same quarter in the previous year, the firm earned $0.46 EPS. As a group, research analysts forecast that Enbridge Inc. will post 2.06 earnings per share for the current year.

Enbridge Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Sunday, December 1st. Investors of record on Friday, November 15th will be given a $0.676 dividend. The ex-dividend date is Friday, November 15th. This represents a $2.70 dividend on an annualized basis and a yield of 6.31%. This is a positive change from Enbridge’s previous quarterly dividend of $0.67. Enbridge’s dividend payout ratio is currently 121.76%.

Institutional Investors Weigh In On Enbridge

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. TruNorth Capital Management LLC purchased a new stake in shares of Enbridge during the 2nd quarter worth about $28,000. William B. Walkup & Associates Inc. purchased a new stake in shares of Enbridge in the 2nd quarter valued at approximately $28,000. McIlrath & Eck LLC increased its holdings in Enbridge by 74.9% during the 3rd quarter. McIlrath & Eck LLC now owns 689 shares of the pipeline company’s stock worth $28,000 after purchasing an additional 295 shares during the period. Grove Bank & Trust lifted its stake in Enbridge by 56.7% in the third quarter. Grove Bank & Trust now owns 771 shares of the pipeline company’s stock worth $31,000 after acquiring an additional 279 shares during the last quarter. Finally, MFA Wealth Advisors LLC grew its holdings in Enbridge by 55.6% during the 3rd quarter. MFA Wealth Advisors LLC now owns 784 shares of the pipeline company’s stock worth $32,000 after acquiring an additional 280 shares in the last quarter. 54.60% of the stock is owned by institutional investors and hedge funds.

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.