Enbridge (NYSE:ENB) Stock Price Up 0.6% – What’s Next?

Enbridge Inc. (NYSE:ENB) (TSE:ENB) traded up 0.6% during trading on Monday . The company traded as high as $42.60 and last traded at $42.43. 1,142,009 shares traded hands during trading, a decline of 77% from the average session volume of 4,862,508 shares. The stock had previously closed at $42.18.

Analyst Upgrades and Downgrades

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

Enbridge Stock Performance

The company has a market capitalization of $93.55 billion, a P/E ratio of 19.88, a P/E/G ratio of 4.10 and a beta of 0.93. The business has a 50-day moving average of $41.23 and a 200-day moving average of $38.56. The company has a debt-to-equity ratio of 1.41, a current ratio of 0.62 and a quick ratio of 0.54.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings results on Friday, November 1st. The pipeline company reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $4.54 billion. During the same period last year, the company earned $0.46 earnings per share. On average, sell-side analysts anticipate that Enbridge Inc. will post 2.06 EPS for the current 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 paid a $0.676 dividend. This is a positive change from Enbridge’s previous quarterly dividend of $0.67. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.70 dividend on an annualized basis and a yield of 6.30%. Enbridge’s dividend payout ratio (DPR) is presently 121.76%.

Institutional Trading of Enbridge

A number of hedge funds and other institutional investors have recently bought and sold shares of ENB. TruNorth Capital Management LLC purchased a new stake in Enbridge in the second quarter worth $28,000. William B. Walkup & Associates Inc. purchased a new stake in Enbridge in the second quarter worth $28,000. McIlrath & Eck LLC increased its stake in Enbridge by 74.9% in the third quarter. McIlrath & Eck LLC now owns 689 shares of the pipeline company’s stock worth $28,000 after purchasing an additional 295 shares during the period. Ameritas Investment Partners Inc. purchased a new position in shares of Enbridge during the first quarter valued at $29,000. Finally, Grove Bank & Trust increased its stake 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 buying an additional 279 shares during the period. 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.