Enbridge (NYSE:ENB) Trading 0.2% Higher – What’s Next?

Enbridge Inc. (NYSE:ENB) (TSE:ENB)’s share price was up 0.2% on Wednesday . The company traded as high as $42.78 and last traded at $42.77. Approximately 672,220 shares were traded during mid-day trading, a decline of 86% from the average daily volume of 4,846,726 shares. The stock had previously closed at $42.70.

Analysts Set New Price Targets

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

Enbridge Trading Up 0.5 %

The firm has a market cap of $93.44 billion, a price-to-earnings ratio of 19.86, a PEG ratio of 4.22 and a beta of 0.93. The business has a fifty day moving average of $41.57 and a two-hundred day moving average of $38.82. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.54 and a current ratio of 0.62.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its earnings results on Friday, November 1st. The pipeline company reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.15. Enbridge had a return on equity of 9.94% and a net margin of 13.54%. The company had revenue of $10.91 billion for the quarter, compared to analyst estimates of $4.54 billion. During the same quarter in the prior year, the company earned $0.46 earnings per share. As a group, equities analysts expect that Enbridge Inc. will post 2.04 earnings per share for the current fiscal year.

Enbridge Increases Dividend

The firm also recently announced 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 an increase from Enbridge’s previous quarterly dividend of $0.67. This represents a $2.70 annualized dividend and a yield of 6.30%. The ex-dividend date is Friday, November 15th. Enbridge’s dividend payout ratio (DPR) is 121.76%.

Institutional Trading of Enbridge

Institutional investors and hedge funds have recently modified their holdings of the business. TruNorth Capital Management LLC purchased a new stake in Enbridge in the 2nd quarter valued at approximately $28,000. William B. Walkup & Associates Inc. acquired a new position in shares of Enbridge in the second quarter worth $28,000. McIlrath & Eck LLC lifted its position in shares of 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 acquiring an additional 295 shares in the last quarter. Grove Bank & Trust lifted its position 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 acquiring an additional 279 shares in the last quarter. Finally, MFA Wealth Advisors LLC boosted its stake in shares of Enbridge by 55.6% during 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 during the last quarter. Hedge funds and other 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.