Enbridge (NYSE:ENB) Trading Up 0.5% – Here’s What Happened

Shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) shot up 0.5% during mid-day trading on Thursday . The stock traded as high as $42.96 and last traded at $42.90. 4,077,546 shares traded hands during trading, a decline of 16% from the average session volume of 4,862,082 shares. The stock had previously closed at $42.70.

Analyst Ratings Changes

A number of equities research analysts have commented on ENB shares. Jefferies Financial Group downgraded Enbridge from a “buy” rating to a “hold” rating in a research report on Monday, September 30th. Morgan Stanley began coverage on shares of Enbridge in a report on Friday, October 25th. They issued an “equal weight” rating on the stock. Finally, Wells Fargo & Company raised shares of Enbridge from an “underweight” rating to an “equal weight” rating in a research note on Wednesday, November 6th.

Enbridge Price Performance

The company has a 50 day moving average of $41.62 and a 200 day moving average of $38.86. 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 stock has a market capitalization of $94.51 billion, a price-to-earnings ratio of 20.09, a PEG ratio of 4.22 and a beta of 0.93.

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, beating analysts’ consensus estimates of $0.40 by $0.15. The company had revenue of $10.91 billion during the quarter, compared to analysts’ expectations of $4.54 billion. Enbridge had a return on equity of 9.94% and a net margin of 13.54%. During the same quarter in the previous year, the business earned $0.46 earnings per share. As a group, equities research analysts anticipate that Enbridge Inc. will post 2.04 EPS for the current year.

Enbridge Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders of record on Friday, November 15th will be paid a $0.676 dividend. The ex-dividend date is Friday, November 15th. This is a positive change from Enbridge’s previous quarterly dividend of $0.67. This represents a $2.70 dividend on an annualized basis and a yield of 6.23%. Enbridge’s payout ratio is currently 121.76%.

Institutional Investors Weigh In On Enbridge

Several hedge funds have recently made changes to their positions in ENB. TruNorth Capital Management LLC acquired a new stake in Enbridge during the 2nd quarter worth approximately $28,000. William B. Walkup & Associates Inc. acquired a new stake in shares of Enbridge during the second quarter worth $28,000. McIlrath & Eck LLC increased 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 buying an additional 295 shares during the period. Grove Bank & Trust raised 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 last quarter. Finally, MFA Wealth Advisors LLC lifted its stake in shares of Enbridge by 55.6% in the 3rd quarter. MFA Wealth Advisors LLC now owns 784 shares of the pipeline company’s stock worth $32,000 after acquiring an additional 280 shares during the period. 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.