Enbridge (NYSE:ENB) Trading Down 0% – Here’s Why

Enbridge Inc. (NYSE:ENB) (TSE:ENB)’s stock price was down 0% on Tuesday . The company traded as low as $40.62 and last traded at $40.82. Approximately 494,122 shares changed hands during trading, a decline of 90% from the average daily volume of 4,869,984 shares. The stock had previously closed at $40.83.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Jefferies Financial Group lowered shares of Enbridge from a “buy” rating to a “hold” rating in a research report on Monday, September 30th. Morgan Stanley assumed coverage on Enbridge in a research report on Friday, October 25th. They set an “equal weight” rating for the company.

Enbridge Stock Up 0.4 %

The business’s 50-day simple moving average is $40.75 and its 200-day simple moving average is $38.05. The company has a market capitalization of $89.31 billion, a PE ratio of 18.99, a price-to-earnings-growth ratio of 3.91 and a beta of 0.93. The company has a current ratio of 0.77, a quick ratio of 0.68 and a debt-to-equity ratio of 1.34.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings results on Friday, November 1st. The pipeline company reported $0.55 EPS for the quarter, topping the consensus estimate of $0.40 by $0.15. Enbridge had a net margin of 13.54% and a return on equity of 9.99%. The company had revenue of $10.91 billion during the quarter, compared to analyst estimates of $4.54 billion. During the same quarter in the previous year, the firm earned $0.46 EPS. As a group, equities research analysts anticipate that Enbridge Inc. will post 2.07 EPS for the current fiscal year.

Enbridge Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders of record on Friday, November 15th will be given a $0.676 dividend. This is a positive change from Enbridge’s previous quarterly dividend of $0.67. The ex-dividend date is Friday, November 15th. This represents a $2.70 dividend on an annualized basis and a yield of 6.59%. Enbridge’s payout ratio is presently 122.22%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the business. Pathway Financial Advisers LLC increased its position in shares of Enbridge by 4,120.0% in the third quarter. Pathway Financial Advisers LLC now owns 4,571,669 shares of the pipeline company’s stock valued at $185,655,000 after buying an additional 4,463,335 shares in the last quarter. M&G Plc purchased a new stake in shares of Enbridge during the first quarter valued at approximately $152,843,000. Cibc World Market Inc. lifted its stake in shares of Enbridge by 12.8% in the second quarter. Cibc World Market Inc. now owns 32,531,675 shares of the pipeline company’s stock worth $1,157,802,000 after acquiring an additional 3,693,495 shares in the last quarter. Canada Pension Plan Investment Board boosted its stake in Enbridge by 66.9% during the 1st quarter. Canada Pension Plan Investment Board now owns 9,044,864 shares of the pipeline company’s stock valued at $327,172,000 after acquiring an additional 3,624,089 shares during the last quarter. Finally, National Bank of Canada FI increased its holdings in shares of Enbridge by 11.3% in the 1st quarter. National Bank of Canada FI now owns 21,664,748 shares of the pipeline company’s stock valued at $818,370,000 after acquiring an additional 2,203,123 shares during the last quarter. 54.60% of the stock is owned by institutional investors and hedge funds.

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.