Enbridge (NYSE:ENB) Sees Large Volume Increase

Shares of Enbridge Inc. (NYSE:ENBGet Rating) (TSE:ENB) saw unusually-high trading volume on Friday . Approximately 194,375 shares traded hands during trading, a decline of 93% from the previous session’s volume of 2,778,069 shares.The stock last traded at $38.39 and had previously closed at $40.07.

Analyst Upgrades and Downgrades

ENB has been the topic of a number of recent analyst reports. Industrial Alliance Securities upgraded shares of Enbridge from a “hold” rating to a “buy” rating and set a C$60.00 price objective on the stock in a research note on Wednesday, August 3rd. Raymond James upgraded shares of Enbridge from a “market perform” rating to an “outperform” rating in a research report on Monday, September 12th. National Bank Financial boosted their price target on shares of Enbridge from C$60.00 to C$61.00 in a research report on Tuesday, August 2nd. Finally, US Capital Advisors cut shares of Enbridge from an “overweight” rating to a “hold” rating in a research report on Tuesday, July 26th. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, Enbridge has a consensus rating of “Moderate Buy” and a consensus price target of $59.75.

Enbridge Trading Down 5.2 %

The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.49 and a current ratio of 0.58. The company has a 50 day simple moving average of $42.76 and a two-hundred day simple moving average of $43.84. The company has a market cap of $76.94 billion, a PE ratio of 20.33, a PEG ratio of 2.91 and a beta of 0.79.

Enbridge (NYSE:ENBGet Rating) (TSE:ENB) last released its earnings results on Friday, July 29th. The pipeline company reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.10. Enbridge had a return on equity of 10.46% and a net margin of 9.98%. During the same quarter in the previous year, the firm posted $0.55 EPS. Sell-side analysts forecast that Enbridge Inc. will post 2.3 EPS for the current year.

Enbridge Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 1st. Shareholders of record on Monday, August 15th were paid a dividend of $0.668 per share. The ex-dividend date of this dividend was Friday, August 12th. This represents a $2.67 annualized dividend and a yield of 7.03%. Enbridge’s dividend payout ratio (DPR) is presently 140.00%.

Institutional Investors Weigh In On Enbridge

Large investors have recently made changes to their positions in the company. AE Wealth Management LLC grew its stake in shares of Enbridge by 8.8% in the 1st quarter. AE Wealth Management LLC now owns 97,325 shares of the pipeline company’s stock valued at $4,486,000 after buying an additional 7,871 shares in the last quarter. Van ECK Associates Corp grew its stake in shares of Enbridge by 11.4% in the 1st quarter. Van ECK Associates Corp now owns 380,840 shares of the pipeline company’s stock valued at $17,537,000 after buying an additional 38,820 shares in the last quarter. Schnieders Capital Management LLC bought a new stake in shares of Enbridge in the 1st quarter valued at approximately $217,000. Tranquilli Financial Advisor LLC grew its stake in shares of Enbridge by 4.7% in the 1st quarter. Tranquilli Financial Advisor LLC now owns 13,653 shares of the pipeline company’s stock valued at $629,000 after buying an additional 617 shares in the last quarter. Finally, Gateway Investment Advisers LLC bought a new stake in shares of Enbridge in the 1st quarter valued at approximately $2,648,000. Institutional investors own 49.26% of the company’s stock.

Enbridge Company Profile

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Enbridge Inc 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.

Further Reading

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