Enbridge (NYSE:ENB) Stock Price Up 0.6% – Here’s What Happened

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

Wall Street Analyst Weigh In

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

Enbridge Stock Up 0.8 %

The company has a current ratio of 0.62, a quick ratio of 0.54 and a debt-to-equity ratio of 1.41. The firm has a market cap of $95.20 billion, a PE ratio of 20.13, a P/E/G ratio of 4.26 and a beta of 0.94. The business’s 50-day simple moving average is $41.62 and its 200 day simple moving average is $38.89.

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

Enbridge Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Sunday, December 1st. Investors of record on Friday, November 15th were paid a dividend of $0.676 per share. This is a boost 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 121.76%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of ENB. TruNorth Capital Management LLC acquired a new stake in Enbridge in the second quarter valued at approximately $28,000. William B. Walkup & Associates Inc. purchased a new stake in shares of Enbridge during the 2nd quarter valued at $28,000. McIlrath & Eck LLC boosted its position in shares of Enbridge by 74.9% in 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 in the last quarter. Grove Bank & Trust grew its stake in Enbridge by 56.7% during the 3rd quarter. Grove Bank & Trust now owns 771 shares of the pipeline company’s stock worth $31,000 after buying an additional 279 shares during the last quarter. Finally, MFA Wealth Advisors LLC increased its position in Enbridge by 55.6% during the 3rd quarter. MFA Wealth Advisors LLC now owns 784 shares of the pipeline company’s stock valued at $32,000 after buying an additional 280 shares in 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.