Enbridge (NYSE:ENB) Trading Up 0.5% – What’s Next?

Shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) were up 0.5% on Thursday . The company traded as high as $42.96 and last traded at $42.90. Approximately 4,077,546 shares changed hands during trading, a decline of 16% from the average daily volume of 4,862,082 shares. The stock had previously closed at $42.70.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Wells Fargo & Company upgraded Enbridge from an “underweight” rating to an “equal weight” rating in a research note on Wednesday, November 6th. Jefferies Financial Group downgraded Enbridge from a “buy” rating to a “hold” rating in a research report on Monday, September 30th. Finally, Morgan Stanley began coverage on shares of Enbridge in a research report on Friday, October 25th. They issued an “equal weight” rating on the stock.

Enbridge Trading Up 0.5 %

The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.54 and a current ratio of 0.62. The stock has a market cap of $93.44 billion, a P/E ratio of 19.86, a P/E/G ratio of 4.18 and a beta of 0.93. The company has a 50-day simple moving average of $41.52 and a 200-day simple moving average of $38.79.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings results on Friday, November 1st. The pipeline company reported $0.55 earnings per share (EPS) for the quarter, beating 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 analysts’ expectations of $4.54 billion. During the same period in the previous year, the business posted $0.46 earnings per share. On average, sell-side analysts forecast that Enbridge Inc. will post 2.06 EPS for the current fiscal year.

Enbridge Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Friday, November 15th will be given a dividend of $0.676 per share. This represents a $2.70 dividend on an annualized basis and a dividend yield of 6.30%. This is a positive change from Enbridge’s previous quarterly dividend of $0.67. The ex-dividend date is Friday, November 15th. Enbridge’s dividend payout ratio is presently 121.76%.

Institutional Trading of Enbridge

A number of hedge funds and other institutional investors have recently modified their holdings of ENB. Richardson Financial Services Inc. boosted its position in Enbridge by 28.4% in the 3rd quarter. Richardson Financial Services Inc. now owns 1,112 shares of the pipeline company’s stock valued at $45,000 after buying an additional 246 shares during the last quarter. Associated Banc Corp lifted its stake in shares of Enbridge by 3.6% during the third quarter. Associated Banc Corp now owns 7,091 shares of the pipeline company’s stock valued at $288,000 after acquiring an additional 248 shares during the period. Hobbs Group Advisors LLC lifted its stake in shares of Enbridge by 15.1% during the third quarter. Hobbs Group Advisors LLC now owns 1,897 shares of the pipeline company’s stock valued at $77,000 after acquiring an additional 249 shares during the period. Centaurus Financial Inc. boosted its holdings in Enbridge by 1.7% in the third quarter. Centaurus Financial Inc. now owns 14,980 shares of the pipeline company’s stock valued at $608,000 after acquiring an additional 256 shares during the last quarter. Finally, First PREMIER Bank increased its position in Enbridge by 1.7% in the third quarter. First PREMIER Bank now owns 15,534 shares of the pipeline company’s stock worth $631,000 after purchasing an additional 257 shares during the period. Institutional investors and hedge funds own 54.60% of the company’s stock.

About Enbridge

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.