Enbridge (NYSE:ENB) Trading Up 0.8% Following Dividend Announcement

Shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) traded up 0.8% during trading on Thursday after the company announced a dividend. The stock traded as high as $44.07 and last traded at $43.98. 556,770 shares were traded during trading, a decline of 89% from the average session volume of 4,850,427 shares. The stock had previously closed at $43.64.

The newly announced dividend which will be paid on Saturday, March 1st. Stockholders of record on Saturday, February 15th will be paid a dividend of $0.67 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.68 annualized dividend and a dividend yield of 6.09%. Enbridge’s payout ratio is currently 121.76%.

Analyst Ratings Changes

Several equities analysts recently weighed in on ENB shares. Royal Bank of Canada reiterated an “outperform” rating and issued a $63.00 price target (up previously from $59.00) on shares of Enbridge in a report on Wednesday. Morgan Stanley initiated coverage on shares of Enbridge in a research note on Friday, October 25th. They issued an “equal weight” rating on the stock. Wells Fargo & Company upgraded shares of Enbridge from an “underweight” rating to an “equal weight” rating in a research report on Wednesday, November 6th. Finally, Jefferies Financial Group downgraded Enbridge from a “buy” rating to a “hold” rating in a research report on Monday, September 30th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, Enbridge currently has a consensus rating of “Hold” and a consensus price target of $63.00.

Enbridge Stock Up 0.8 %

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 business’s 50 day moving average price is $41.78 and its 200 day moving average price is $39.01. The firm has a market cap of $95.79 billion, a price-to-earnings ratio of 20.36, a PEG ratio of 4.27 and a beta of 0.94.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings data on Friday, November 1st. The pipeline company reported $0.55 earnings per share for the quarter, topping 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 business had revenue of $10.91 billion during the quarter, compared to the consensus estimate of $4.54 billion. During the same quarter in the prior year, the firm posted $0.46 earnings per share. On average, equities analysts forecast that Enbridge Inc. will post 2.04 EPS for the current year.

Institutional Investors Weigh In On Enbridge

A number of institutional investors have recently added to or reduced their stakes in the stock. McIlrath & Eck LLC boosted its stake in shares of Enbridge by 74.9% in 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 last quarter. Grove Bank & Trust lifted its holdings in Enbridge by 56.7% in the 3rd quarter. Grove Bank & Trust now owns 771 shares of the pipeline company’s stock valued at $31,000 after purchasing an additional 279 shares in the last quarter. MFA Wealth Advisors LLC boosted its stake in Enbridge by 55.6% during the 3rd quarter. MFA Wealth Advisors LLC now owns 784 shares of the pipeline company’s stock worth $32,000 after purchasing an additional 280 shares during the last quarter. TruNorth Capital Management LLC acquired a new stake in Enbridge during the 2nd quarter worth $28,000. Finally, William B. Walkup & Associates Inc. purchased a new stake in shares of Enbridge during the second quarter worth $28,000. 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.