Enbridge (NYSE:ENB) Stock Price Up 0.8% – Should You Buy?

Shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) traded up 0.8% during mid-day trading on Thursday . The company traded as high as $43.00 and last traded at $42.82. 1,384,215 shares were traded during trading, a decline of 72% from the average session volume of 4,857,002 shares. The stock had previously closed at $42.49.

Wall Street Analyst Weigh In

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

Enbridge Stock Down 2.1 %

The business has a 50 day simple moving average of $41.15 and a 200-day simple moving average of $38.43. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.54 and a current ratio of 0.62. The firm has a market capitalization of $91.86 billion, a price-to-earnings ratio of 19.53, a P/E/G ratio of 4.13 and a beta of 0.93.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings results on Friday, November 1st. The pipeline company reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.40 by $0.15. The business had revenue of $10.91 billion during the quarter, compared to analysts’ expectations of $4.54 billion. Enbridge had a return on equity of 9.94% and a net margin of 13.54%. During the same period in the prior year, the business posted $0.46 EPS. On average, equities analysts expect that Enbridge Inc. will post 2.06 EPS for the current year.

Enbridge Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Sunday, December 1st. Investors of record on Friday, November 15th will be paid a dividend of $0.676 per share. This is an increase from Enbridge’s previous quarterly dividend of $0.67. This represents a $2.70 annualized dividend and a yield of 6.41%. The ex-dividend date is Friday, November 15th. Enbridge’s dividend payout ratio is presently 122.22%.

Hedge Funds Weigh In On Enbridge

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. TruNorth Capital Management LLC acquired a new stake in shares of Enbridge in the second quarter valued at $28,000. William B. Walkup & Associates Inc. purchased a new stake in Enbridge during the 2nd quarter worth about $28,000. Ameritas Investment Partners Inc. acquired a new stake in Enbridge in the 1st quarter valued at about $29,000. Grove Bank & Trust boosted its stake in shares of Enbridge by 56.7% in the 3rd quarter. Grove Bank & Trust now owns 771 shares of the pipeline company’s stock valued at $31,000 after buying an additional 279 shares during the period. Finally, 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 valued at $32,000 after acquiring an additional 280 shares in the last quarter. Hedge funds and other 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.