Enbridge (NYSE:ENB) Trading 0.2% Higher – Here’s Why

Enbridge Inc. (NYSE:ENB) (TSE:ENB) shares traded up 0.2% during mid-day trading on Friday . The company traded as high as $43.69 and last traded at $43.58. 469,444 shares traded hands during mid-day trading, a decline of 90% from the average session volume of 4,836,571 shares. The stock had previously closed at $43.49.

Analyst Ratings Changes

ENB has been the subject of a number of recent research reports. Wells Fargo & Company upgraded shares of Enbridge from an “underweight” rating to an “equal weight” rating in a research note on Wednesday, November 6th. Jefferies Financial Group downgraded shares of Enbridge from a “buy” rating to a “hold” rating in a research report on Monday, September 30th. Finally, Morgan Stanley initiated coverage on shares of Enbridge in a research report on Friday, October 25th. They issued an “equal weight” rating on the stock.

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 firm has a market capitalization of $94.22 billion, a PE ratio of 20.03, a price-to-earnings-growth ratio of 4.23 and a beta of 0.93. The business has a 50-day moving average of $41.40 and a 200 day moving average of $38.68.

Enbridge (NYSE:ENB) (TSE:ENB) last released 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 net margin of 13.54% and a return on equity of 9.94%. The company had revenue of $10.91 billion for the quarter, compared to analyst estimates of $4.54 billion. During the same period last year, the firm earned $0.46 earnings per share. As a group, research analysts anticipate that Enbridge Inc. will post 2.06 EPS for the current fiscal year.

Enbridge Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Friday, November 15th will be paid a $0.676 dividend. This represents a $2.70 dividend on an annualized basis and a dividend yield of 6.25%. The ex-dividend date of this dividend is Friday, November 15th. This is an increase from Enbridge’s previous quarterly dividend of $0.67. Enbridge’s payout ratio is presently 121.76%.

Institutional Trading of Enbridge

A number of institutional investors and hedge funds have recently modified their holdings of the business. McIlrath & Eck LLC grew its stake in Enbridge by 74.9% in the 3rd quarter. McIlrath & Eck LLC now owns 689 shares of the pipeline company’s stock valued at $28,000 after purchasing an additional 295 shares during the period. Grove Bank & Trust boosted its holdings in shares of Enbridge by 56.7% in 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 last quarter. MFA Wealth Advisors LLC grew its position in Enbridge by 55.6% during the third quarter. MFA Wealth Advisors LLC now owns 784 shares of the pipeline company’s stock valued at $32,000 after buying an additional 280 shares during the period. TruNorth Capital Management LLC purchased a new stake in Enbridge during the second quarter worth about $28,000. Finally, William B. Walkup & Associates Inc. bought a new stake in Enbridge in the second quarter worth about $28,000. 54.60% of the stock is owned by hedge funds and other 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.