Enbridge (NYSE:ENB) Trading 0.2% Higher – Here’s What Happened

Enbridge Inc. (NYSE:ENB) (TSE:ENB) shares shot up 0.2% during mid-day trading on Friday . The stock traded as high as $43.69 and last traded at $43.58. 469,444 shares changed hands during trading, a decline of 90% from the average session volume of 4,836,571 shares. The stock had previously closed at $43.49.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on ENB. Morgan Stanley began coverage on shares of Enbridge in a report on Friday, October 25th. They set an “equal weight” rating for the company. Jefferies Financial Group cut shares of Enbridge from a “buy” rating to a “hold” rating in a research note on Monday, September 30th. Finally, Wells Fargo & Company upgraded shares of Enbridge from an “underweight” rating to an “equal weight” rating in a research report on Wednesday, November 6th.

Enbridge Price Performance

The company has a market cap of $94.46 billion, a PE ratio of 20.18, a price-to-earnings-growth ratio of 4.18 and a beta of 0.93. The stock has a fifty day moving average price of $41.34 and a 200-day moving average price of $38.62. The company has a debt-to-equity ratio of 1.41, a current ratio of 0.62 and a quick ratio of 0.54.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its earnings results 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 for the quarter, compared to the consensus estimate 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 prior year, the company earned $0.46 EPS. On average, equities analysts expect that Enbridge Inc. will post 2.06 earnings per share for the current year.

Enbridge Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Sunday, December 1st. Investors of record on Friday, November 15th will be issued a $0.676 dividend. This represents a $2.70 annualized dividend and a yield of 6.23%. The ex-dividend date of this dividend is Friday, November 15th. This is an increase from Enbridge’s previous quarterly dividend of $0.67. Enbridge’s dividend payout ratio (DPR) is 121.76%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. TruNorth Capital Management LLC acquired a new position in Enbridge in the second quarter worth $28,000. William B. Walkup & Associates Inc. acquired a new position in Enbridge in the second quarter valued at about $28,000. McIlrath & Eck LLC lifted its stake 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. Ameritas Investment Partners Inc. bought a new stake in shares of Enbridge in the first quarter worth about $29,000. Finally, Grove Bank & Trust lifted its holdings in shares of Enbridge by 56.7% in the third quarter. Grove Bank & Trust now owns 771 shares of the pipeline company’s stock valued at $31,000 after purchasing an additional 279 shares in the last quarter. Institutional investors 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.