Enbridge (NYSE:ENB) Stock Price Up 0% – Here’s What Happened

Shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) rose 0% on Thursday . The stock traded as high as $41.48 and last traded at $41.24. Approximately 506,734 shares traded hands during mid-day trading, a decline of 90% from the average daily volume of 4,910,591 shares. The stock had previously closed at $41.22.

Wall Street Analysts Forecast Growth

ENB has been the subject of several recent research reports. Morgan Stanley initiated coverage on Enbridge in a research note on Friday. They issued an “equal weight” rating for the company. Jefferies Financial Group lowered Enbridge from a “buy” rating to a “hold” rating in a research report on Monday, September 30th.

Enbridge Trading Down 0.4 %

The company has a current ratio of 0.77, a quick ratio of 0.68 and a debt-to-equity ratio of 1.34. The firm has a 50-day moving average of $40.55 and a 200 day moving average of $37.68. The company has a market cap of $89.18 billion, a P/E ratio of 21.33, a price-to-earnings-growth ratio of 4.00 and a beta of 0.93.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings results on Friday, August 2nd. The pipeline company reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.13. The business had revenue of $8.29 billion for the quarter, compared to analyst estimates of $4.28 billion. Enbridge had a return on equity of 10.07% and a net margin of 13.31%. During the same quarter in the prior year, the company earned $0.51 earnings per share. On average, analysts predict that Enbridge Inc. will post 2.08 earnings per share for the current fiscal year.

Enbridge Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Thursday, August 15th were issued a $0.669 dividend. The ex-dividend date was Thursday, August 15th. This represents a $2.68 annualized dividend and a yield of 6.53%. Enbridge’s payout ratio is currently 137.50%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in ENB. TruNorth Capital Management LLC bought a new position in shares of Enbridge in the second quarter valued at approximately $28,000. William B. Walkup & Associates Inc. purchased a new stake in shares of Enbridge during the second quarter valued at approximately $28,000. Ameritas Investment Partners Inc. purchased a new stake in shares of Enbridge during the first quarter valued at approximately $29,000. Richardson Financial Services Inc. purchased a new stake in shares of Enbridge during the first quarter valued at approximately $31,000. Finally, Grove Bank & Trust increased its position in shares of Enbridge by 56.7% during 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 during the last quarter. 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.