Enbridge (NYSE:ENB) Sets New 12-Month High – Should You Buy?

Enbridge Inc. (NYSE:ENB) (TSE:ENB)’s share price reached a new 52-week high during trading on Monday . The stock traded as high as $42.06 and last traded at $42.06, with a volume of 4768 shares changing hands. The stock had previously closed at $41.98.

Analysts Set New Price Targets

Separately, Jefferies Financial Group lowered Enbridge from a “buy” rating to a “hold” rating in a report on Monday, September 30th.

Enbridge Stock Down 0.2 %

The firm has a market capitalization of $88.46 billion, a P/E ratio of 21.04, a PEG ratio of 3.94 and a beta of 0.93. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.68 and a current ratio of 0.77. The stock has a 50 day moving average of $40.47 and a 200-day moving average of $37.63.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings results on Friday, August 2nd. The pipeline company reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.13. Enbridge had a return on equity of 10.07% and a net margin of 13.31%. The company had revenue of $8.29 billion during the quarter, compared to analysts’ expectations of $4.28 billion. During the same period in the previous year, the business earned $0.51 earnings per share. Research analysts predict that Enbridge Inc. will post 2.08 earnings per share for the current fiscal year.

Enbridge Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Thursday, August 15th were issued a dividend of $0.669 per share. This represents a $2.68 dividend on an annualized basis and a yield of 6.46%. The ex-dividend date was Thursday, August 15th. Enbridge’s dividend payout ratio (DPR) is presently 134.01%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Sei Investments Co. boosted its stake in Enbridge by 6.1% during the first quarter. Sei Investments Co. now owns 274,235 shares of the pipeline company’s stock valued at $9,922,000 after buying an additional 15,650 shares during the period. Stonegate Investment Group LLC grew its holdings in shares of Enbridge by 66.5% during the third quarter. Stonegate Investment Group LLC now owns 33,833 shares of the pipeline company’s stock worth $1,374,000 after purchasing an additional 13,515 shares in the last quarter. State Board of Administration of Florida Retirement System bought a new position in shares of Enbridge in the first quarter worth approximately $1,133,000. Vanguard Group Inc. raised its stake in Enbridge by 1.5% in the first quarter. Vanguard Group Inc. now owns 84,280,486 shares of the pipeline company’s stock valued at $3,049,268,000 after purchasing an additional 1,227,031 shares in the last quarter. Finally, Intech Investment Management LLC bought a new stake in Enbridge during the first quarter valued at approximately $4,069,000. 54.60% of the stock is owned by institutional investors.

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.