Enbridge (NYSE:ENB) Stock Price Down 0.6% – What’s Next?

Enbridge Inc. (NYSE:ENB) (TSE:ENB)’s share price traded down 0.6% during trading on Wednesday . The stock traded as low as $42.65 and last traded at $42.72. 547,913 shares traded hands during trading, a decline of 89% from the average session volume of 4,849,617 shares. The stock had previously closed at $42.98.

Analyst Upgrades and Downgrades

ENB has been the topic of a number of analyst reports. Wells Fargo & Company upgraded Enbridge from an “underweight” rating to an “equal weight” rating in a research report on Wednesday, November 6th. Jefferies Financial Group lowered Enbridge from a “buy” rating to a “hold” rating in a research report on Monday, September 30th. Finally, Morgan Stanley initiated coverage on Enbridge in a research note on Friday, October 25th. They issued an “equal weight” rating for the company.

Enbridge Price Performance

The company has a debt-to-equity ratio of 1.41, a current ratio of 0.62 and a quick ratio of 0.54. The firm has a market capitalization of $92.76 billion, a P/E ratio of 19.78, a PEG ratio of 4.10 and a beta of 0.93. The company’s 50 day moving average price is $41.23 and its 200 day moving average price is $38.56.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings data on Friday, November 1st. The pipeline company reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.40 by $0.15. The firm had revenue of $10.91 billion for the quarter, compared to analyst estimates of $4.54 billion. Enbridge had a return on equity of 9.94% and a net margin of 13.54%. During the same period last year, the company earned $0.46 EPS. As a group, sell-side analysts anticipate that Enbridge Inc. will post 2.06 EPS for the current fiscal year.

Enbridge Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders of record on Friday, November 15th will be issued a dividend of $0.676 per share. This is a boost from Enbridge’s previous quarterly dividend of $0.67. This represents a $2.70 annualized dividend and a yield of 6.35%. The ex-dividend date is Friday, November 15th. Enbridge’s payout ratio is currently 121.76%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in ENB. McIlrath & Eck LLC lifted its holdings in Enbridge by 74.9% in the third 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 grew its position in shares of 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 period. MFA Wealth Advisors LLC raised its holdings in Enbridge by 55.6% in the third 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 period. TruNorth Capital Management LLC bought a new position in shares of Enbridge during the second quarter worth $28,000. Finally, William B. Walkup & Associates Inc. acquired a new position in shares of Enbridge in the 2nd quarter valued at $28,000. 54.60% of the stock is currently owned by institutional investors and hedge funds.

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.