Short Interest in Enbridge Inc. (NYSE:ENB) Increases By 9.4%

Enbridge Inc. (NYSE:ENB) (TSE:ENB) was the target of a large increase in short interest during the month of April. As of April 15th, there was short interest totalling 26,810,000 shares, an increase of 9.4% from the March 31st total of 24,510,000 shares. Based on an average daily volume of 5,910,000 shares, the short-interest ratio is presently 4.5 days. Currently, 1.3% of the company’s stock are short sold.

Enbridge Stock Up 0.2 %

Enbridge stock opened at $35.60 on Thursday. Enbridge has a one year low of $31.03 and a one year high of $40.30. The stock has a fifty day moving average of $35.26 and a 200 day moving average of $34.88. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.74 and a current ratio of 0.83. The stock has a market cap of $75.67 billion, a PE ratio of 16.95, a price-to-earnings-growth ratio of 3.36 and a beta of 0.83.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings results on Friday, February 9th. The pipeline company reported $0.47 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.03). Enbridge had a net margin of 13.97% and a return on equity of 10.23%. The business had revenue of $8.37 billion for the quarter, compared to analysts’ expectations of $9.62 billion. As a group, sell-side analysts predict that Enbridge will post 2.12 EPS for the current year.

Enbridge Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Wednesday, May 15th will be given a $0.677 dividend. The ex-dividend date is Tuesday, May 14th. This is an increase from Enbridge’s previous quarterly dividend of $0.66. This represents a $2.71 annualized dividend and a yield of 7.61%. Enbridge’s dividend payout ratio (DPR) is presently 129.05%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on ENB shares. Stifel Nicolaus initiated coverage on Enbridge in a research note on Thursday, January 18th. They issued a “hold” rating for the company. Jefferies Financial Group initiated coverage on Enbridge in a research report on Tuesday, February 27th. They issued a “buy” rating for the company. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $55.20.

Institutional Investors Weigh In On Enbridge

Hedge funds have recently modified their holdings of the business. Healthcare of Ontario Pension Plan Trust Fund lifted its position in Enbridge by 98.4% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,644,850 shares of the pipeline company’s stock valued at $54,578,000 after purchasing an additional 815,850 shares in the last quarter. Clarius Group LLC lifted its position in shares of Enbridge by 25.2% during the 4th quarter. Clarius Group LLC now owns 8,031 shares of the pipeline company’s stock valued at $289,000 after buying an additional 1,617 shares in the last quarter. S.E.E.D. Planning Group LLC grew its stake in shares of Enbridge by 81.1% during the 4th quarter. S.E.E.D. Planning Group LLC now owns 229,663 shares of the pipeline company’s stock valued at $8,272,000 after acquiring an additional 102,850 shares during the period. Private Trust Co. NA increased its holdings in Enbridge by 5.7% in the 4th quarter. Private Trust Co. NA now owns 8,834 shares of the pipeline company’s stock worth $318,000 after acquiring an additional 473 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in Enbridge by 5.7% during the 3rd quarter. Vanguard Group Inc. now owns 81,491,857 shares of the pipeline company’s stock worth $2,704,715,000 after acquiring an additional 4,400,848 shares during the period. Institutional investors 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.