Enbridge (NYSE:ENB) Trading Down 1% – Time to Sell?

Enbridge Inc. (NYSE:ENB) (TSE:ENB)’s stock price dropped 1% on Tuesday . The company traded as low as $42.44 and last traded at $42.51. Approximately 764,214 shares changed hands during mid-day trading, a decline of 84% from the average daily volume of 4,847,913 shares. The stock had previously closed at $42.95.

Wall Street Analyst Weigh In

Several analysts recently commented on ENB shares. Wells Fargo & Company raised Enbridge from an “underweight” rating to an “equal weight” rating in a research note on Wednesday, November 6th. Jefferies Financial Group cut 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 research note on Friday, October 25th. They set an “equal weight” rating for the company.

Enbridge Trading Down 1.2 %

The stock has a market cap of $92.46 billion, a price-to-earnings ratio of 19.68, a PEG ratio of 4.21 and a beta of 0.93. The business’s 50 day simple moving average is $41.43 and its 200 day simple moving average is $38.73. The company has a quick ratio of 0.54, a current ratio of 0.62 and a debt-to-equity ratio of 1.41.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings results on Friday, November 1st. The pipeline company reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.15. The business 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 firm earned $0.46 earnings per share. On average, research analysts expect that Enbridge Inc. will post 2.06 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. Stockholders of record on Friday, November 15th will be given a $0.676 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.70 dividend on an annualized basis and a dividend yield of 6.37%. This is an increase from Enbridge’s previous quarterly dividend of $0.67. Enbridge’s payout ratio is 121.76%.

Institutional Trading of Enbridge

Hedge funds have recently bought and sold shares of the business. Janus Henderson Group PLC lifted its position in shares of Enbridge by 2.1% during the 1st quarter. Janus Henderson Group PLC now owns 215,629 shares of the pipeline company’s stock valued at $7,800,000 after buying an additional 4,400 shares during the last quarter. Ancora Advisors LLC lifted its stake in shares of Enbridge by 3.5% during the 1st quarter. Ancora Advisors LLC now owns 65,479 shares of the pipeline company’s stock valued at $2,369,000 after buying an additional 2,241 shares in the last quarter. B. Riley Wealth Advisors Inc. boosted its holdings in Enbridge by 6.4% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 88,752 shares of the pipeline company’s stock worth $2,949,000 after buying an additional 5,347 shares during the period. Creekmur Asset Management LLC boosted its holdings in shares of Enbridge by 4.1% in the first quarter. Creekmur Asset Management LLC now owns 29,671 shares of the pipeline company’s stock worth $1,073,000 after acquiring an additional 1,172 shares during the period. Finally, Tidal Investments LLC grew its position in shares of Enbridge by 8.0% in the first quarter. Tidal Investments LLC now owns 40,565 shares of the pipeline company’s stock valued at $1,468,000 after purchasing an additional 3,008 shares in the last quarter. Institutional investors and hedge funds 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.