Enbridge Inc. (NYSE:ENB) Short Interest Up 30.4% in October

Enbridge Inc. (NYSE:ENB) (TSE:ENB) was the target of a significant growth in short interest in the month of October. As of October 15th, there was short interest totalling 24,640,000 shares, a growth of 30.4% from the September 30th total of 18,900,000 shares. Based on an average daily volume of 3,680,000 shares, the short-interest ratio is currently 6.7 days. Currently, 1.1% of the shares of the company are sold short.

Enbridge Stock Down 1.1 %

Shares of ENB opened at $40.42 on Wednesday. The company has a market capitalization of $86.24 billion, a price-to-earnings ratio of 20.52, a PEG ratio of 4.00 and a beta of 0.93. Enbridge has a 52 week low of $31.47 and a 52 week high of $42.16. The stock’s 50-day moving average price is $40.66 and its 200-day moving average price is $37.85. The company has a quick ratio of 0.68, a current ratio of 0.77 and a debt-to-equity ratio of 1.34.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings data on Friday, August 2nd. The pipeline company reported $0.58 EPS for the quarter, topping analysts’ consensus estimates of $0.45 by $0.13. The business had revenue of $8.29 billion for the quarter, compared to analysts’ expectations of $4.28 billion. Enbridge had a net margin of 13.31% and a return on equity of 10.07%. During the same quarter last year, the company earned $0.51 EPS. On average, sell-side analysts predict that Enbridge will post 2.08 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ENB. Richardson Financial Services Inc. raised its holdings in Enbridge by 28.4% in the 3rd quarter. Richardson Financial Services Inc. now owns 1,112 shares of the pipeline company’s stock worth $45,000 after purchasing an additional 246 shares during the period. First PREMIER Bank increased its position in shares of Enbridge by 1.7% in the third quarter. First PREMIER Bank now owns 15,534 shares of the pipeline company’s stock valued at $631,000 after buying an additional 257 shares in the last quarter. Grove Bank & Trust raised its stake in shares of Enbridge by 56.7% during the 3rd quarter. Grove Bank & Trust now owns 771 shares of the pipeline company’s stock worth $31,000 after buying an additional 279 shares during the period. MFA Wealth Advisors LLC lifted its position in shares of Enbridge by 55.6% during the 3rd quarter. MFA Wealth Advisors LLC now owns 784 shares of the pipeline company’s stock valued at $32,000 after buying an additional 280 shares in the last quarter. Finally, Rockwood Wealth Management LLC increased its holdings in Enbridge by 2.6% in the 2nd quarter. Rockwood Wealth Management LLC now owns 11,107 shares of the pipeline company’s stock worth $395,000 after acquiring an additional 285 shares in the last quarter. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on ENB shares. Morgan Stanley started coverage on 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.

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.