Enbridge (NYSE:ENB) Reaches New 52-Week High – What’s Next?

Enbridge Inc. (NYSE:ENB) (TSE:ENB)’s share price hit a new 52-week high during trading on Wednesday . The stock traded as high as $44.74 and last traded at $44.67, with a volume of 213632 shares trading hands. The stock had previously closed at $44.07.

Analyst Ratings Changes

ENB has been the subject of a number of analyst reports. Morgan Stanley began coverage on Enbridge in a research note on Friday, October 25th. They set an “equal weight” rating for the company. TD Securities started coverage on shares of Enbridge in a research note on Wednesday. They set a “buy” rating on the stock. Jefferies Financial Group lowered shares of Enbridge from a “buy” rating to a “hold” rating in a report on Monday, September 30th. Royal Bank of Canada restated an “outperform” rating and issued a $63.00 price target (up from $59.00) on shares of Enbridge in a report on Wednesday, December 4th. Finally, Wells Fargo & Company raised Enbridge from an “underweight” rating to an “equal weight” rating in a research note on Wednesday, November 6th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, Enbridge has an average rating of “Hold” and a consensus target price of $63.00.

Enbridge Trading Up 0.8 %

The business has a 50 day moving average price of $42.62 and a 200-day moving average price of $40.42. The company has a market cap of $96.80 billion, a P/E ratio of 20.57, a PEG ratio of 4.14 and a beta of 0.93. The company has a current ratio of 0.62, a quick ratio of 0.54 and a debt-to-equity ratio of 1.41.

Enbridge (NYSE:ENB) (TSE:ENB) last posted 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. 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 quarter last year, the company posted $0.46 earnings per share. Analysts forecast that Enbridge Inc. will post 2.03 earnings per share for the current fiscal year.

Enbridge Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Saturday, February 15th will be given a dividend of $0.67 per share. The ex-dividend date is Friday, February 14th. This represents a $2.68 dividend on an annualized basis and a yield of 6.03%. Enbridge’s dividend payout ratio (DPR) is 124.07%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. McIlrath & Eck LLC boosted its holdings in shares of Enbridge by 74.9% during the third quarter. McIlrath & Eck LLC now owns 689 shares of the pipeline company’s stock worth $28,000 after acquiring an additional 295 shares during the period. Grove Bank & Trust increased its position 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 period. MFA Wealth Advisors LLC lifted its holdings in shares of Enbridge by 55.6% during the third quarter. MFA Wealth Advisors LLC now owns 784 shares of the pipeline company’s stock worth $32,000 after buying an additional 280 shares in the last quarter. William B. Walkup & Associates Inc. bought a new position in Enbridge during the second quarter worth about $28,000. Finally, Fortitude Family Office LLC acquired a new position in shares of Enbridge during the 3rd quarter worth approximately $35,000. 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.