Enbridge (NYSE:ENB) Stock Price Down 0.1% – Here’s Why

Enbridge Inc. (NYSE:ENB) (TSE:ENB)’s share price dropped 0.1% on Monday . The company traded as low as $43.22 and last traded at $43.23. Approximately 759,451 shares were traded during trading, a decline of 84% from the average daily volume of 4,836,604 shares. The stock had previously closed at $43.26.

Analyst Ratings Changes

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

Enbridge Price Performance

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 stock has a fifty day simple moving average of $41.40 and a two-hundred day simple moving average of $38.69. The company has a market cap of $93.55 billion, a PE ratio of 19.88, a price-to-earnings-growth ratio of 4.21 and a beta of 0.93.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings results on Friday, November 1st. The pipeline company reported $0.55 earnings per share 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 firm had revenue of $10.91 billion for the quarter, compared to the consensus estimate of $4.54 billion. During the same period in the previous year, the business earned $0.46 earnings per share. On average, equities analysts predict that Enbridge Inc. will post 2.06 EPS for the current fiscal year.

Enbridge Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Friday, November 15th will be paid a dividend of $0.676 per share. The ex-dividend date is Friday, November 15th. 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 6.30%. Enbridge’s dividend payout ratio is 121.76%.

Institutional Trading of Enbridge

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