Enbridge Inc. (NYSE:ENB) Short Interest Update

Enbridge Inc. (NYSE:ENB) (TSE:ENB) was the recipient of a significant increase in short interest in January. As of January 31st, there was short interest totalling 42,280,000 shares, an increase of 79.3% from the January 15th total of 23,580,000 shares. Based on an average daily trading volume, of 4,020,000 shares, the days-to-cover ratio is currently 10.5 days. Approximately 2.0% of the company’s stock are sold short.

Institutional Trading of Enbridge

Large investors have recently added to or reduced their stakes in the company. Swiss National Bank lifted its stake in Enbridge by 3.2% in the third quarter. Swiss National Bank now owns 6,585,231 shares of the pipeline company’s stock valued at $267,935,000 after acquiring an additional 207,200 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in Enbridge by 70.7% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 1,296,374 shares of the pipeline company’s stock valued at $52,648,000 after acquiring an additional 536,818 shares during the last quarter. Duff & Phelps Investment Management Co. lifted its stake in Enbridge by 32.6% in the third quarter. Duff & Phelps Investment Management Co. now owns 1,302,132 shares of the pipeline company’s stock valued at $52,880,000 after acquiring an additional 319,907 shares during the last quarter. Sound Income Strategies LLC lifted its stake in Enbridge by 8.6% in the fourth quarter. Sound Income Strategies LLC now owns 631,820 shares of the pipeline company’s stock valued at $26,808,000 after acquiring an additional 49,800 shares during the last quarter. Finally, Pinnacle Financial Partners Inc lifted its stake in Enbridge by 8.8% in the third quarter. Pinnacle Financial Partners Inc now owns 188,244 shares of the pipeline company’s stock valued at $7,650,000 after acquiring an additional 15,207 shares during the last quarter. Institutional investors and hedge funds own 54.60% of the company’s stock.

Enbridge Stock Down 5.1 %

Shares of ENB stock traded down $2.33 during trading on Friday, reaching $43.13. The company’s stock had a trading volume of 5,862,322 shares, compared to its average volume of 4,078,409. The business has a fifty day moving average price of $43.33 and a 200-day moving average price of $41.70. The company has a quick ratio of 0.54, a current ratio of 0.62 and a debt-to-equity ratio of 1.41. The company has a market cap of $93.95 billion, a price-to-earnings ratio of 19.97, a price-to-earnings-growth ratio of 4.08 and a beta of 0.94. Enbridge has a one year low of $32.85 and a one year high of $45.78.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings data on Friday, February 14th. The pipeline company reported $0.75 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.23. The business had revenue of $11.59 billion for the quarter, compared to analyst estimates of $4.78 billion. Enbridge had a net margin of 13.54% and a return on equity of 9.94%. During the same quarter in the previous year, the firm posted $0.64 earnings per share. Analysts anticipate that Enbridge will post 1.97 earnings per share for the current year.

Enbridge Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Saturday, February 15th will be given a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a yield of 6.21%. The ex-dividend date is Friday, February 14th. Enbridge’s dividend payout ratio (DPR) is currently 121.76%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Wells Fargo & Company raised shares of Enbridge from an “underweight” rating to an “equal weight” rating in a research note on Wednesday, November 6th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $63.00 price target (up previously from $59.00) on shares of Enbridge in a research note on Wednesday, December 4th. TD Securities assumed coverage on shares of Enbridge in a research note on Wednesday, January 15th. They issued a “buy” rating on the stock. Finally, Morgan Stanley began coverage on shares of Enbridge in a research note on Friday, October 25th. They issued an “equal weight” rating on the stock. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $63.00.

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.