Enbridge (NYSE:ENB) Stock Price Down 1% – What’s Next?

Enbridge Inc. (NYSE:ENB) (TSE:ENB) dropped 1% during mid-day trading on Tuesday . The stock traded as low as $40.33 and last traded at $40.47. Approximately 390,971 shares changed hands during mid-day trading, a decline of 92% from the average daily volume of 4,880,288 shares. The stock had previously closed at $40.87.

Wall Street Analyst Weigh In

ENB has been the subject of several recent research reports. Morgan Stanley initiated coverage on shares of Enbridge in a research report on Friday, October 25th. They issued an “equal weight” rating for the company. Jefferies Financial Group cut shares of Enbridge from a “buy” rating to a “hold” rating in a research report on Monday, September 30th.

Enbridge Stock Performance

The company has a debt-to-equity ratio of 1.34, a current ratio of 0.77 and a quick ratio of 0.68. The company’s 50-day moving average price is $40.69 and its two-hundred day moving average price is $37.87. The company has a market capitalization of $86.64 billion, a price-to-earnings ratio of 20.61, a PEG ratio of 4.00 and a beta of 0.93.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings data on Friday, August 2nd. The pipeline company reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.13. Enbridge had a net margin of 13.31% and a return on equity of 10.07%. The company had revenue of $8.29 billion during the quarter, compared to analysts’ expectations of $4.28 billion. During the same period in the prior year, the company posted $0.51 earnings per share. On average, equities research analysts anticipate that Enbridge Inc. will post 2.08 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. Investors of record on Friday, November 15th will be paid a dividend of $0.676 per share. The ex-dividend date of this dividend is Friday, November 15th. This is a positive change from Enbridge’s previous quarterly dividend of $0.67. This represents a $2.70 annualized dividend and a yield of 6.66%. Enbridge’s dividend payout ratio is currently 134.01%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of ENB. Norden Group LLC bought a new position in Enbridge during the first quarter worth $7,656,000. Cornerstone Wealth Management LLC boosted its stake in Enbridge by 3.4% during the first quarter. Cornerstone Wealth Management LLC now owns 28,799 shares of the pipeline company’s stock worth $1,042,000 after acquiring an additional 938 shares in the last quarter. Teamwork Financial Advisors LLC bought a new position in Enbridge during the first quarter worth $234,000. Principal Financial Group Inc. boosted its stake in Enbridge by 151.6% during the first quarter. Principal Financial Group Inc. now owns 43,461 shares of the pipeline company’s stock worth $1,572,000 after acquiring an additional 26,185 shares in the last quarter. Finally, SpiderRock Advisors LLC bought a new position in Enbridge during the first quarter worth $320,000. 54.60% of the stock is owned by institutional investors.

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.