Enbridge (NYSE:ENB) Shares Down 0.6% – What’s Next?

Enbridge Inc. (NYSE:ENB) (TSE:ENB) was down 0.6% during trading on Wednesday . The company traded as low as $42.65 and last traded at $42.72. Approximately 547,913 shares changed hands during mid-day trading, a decline of 89% from the average daily volume of 4,849,617 shares. The stock had previously closed at $42.98.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Jefferies Financial Group lowered shares of Enbridge from a “buy” rating to a “hold” rating in a research note on Monday, September 30th. Morgan Stanley began coverage on Enbridge in a research report on Friday, October 25th. They set an “equal weight” rating on the stock. Finally, Wells Fargo & Company raised Enbridge from an “underweight” rating to an “equal weight” rating in a report on Wednesday, November 6th.

Enbridge Trading Up 1.6 %

The business’s 50 day simple moving average is $41.34 and its 200 day simple moving average is $38.62. The company has a debt-to-equity ratio of 1.41, a current ratio of 0.62 and a quick ratio of 0.54. The company has a market capitalization of $94.65 billion, a price-to-earnings ratio of 20.12, a price-to-earnings-growth ratio of 4.18 and a beta of 0.93.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings data on Friday, November 1st. The pipeline company reported $0.55 earnings per share 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 analysts’ expectations of $4.54 billion. During the same period last year, the firm earned $0.46 EPS. Research analysts anticipate that Enbridge Inc. will post 2.06 EPS for the current year.

Enbridge Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders of record on Friday, November 15th will be given a dividend of $0.676 per share. 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 6.22%. This is an increase from Enbridge’s previous quarterly dividend of $0.67. Enbridge’s dividend payout ratio is presently 121.76%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. TruNorth Capital Management LLC purchased a new position in shares of Enbridge during the 2nd quarter worth approximately $28,000. William B. Walkup & Associates Inc. purchased a new position in Enbridge in the second quarter worth $28,000. McIlrath & Eck LLC lifted its holdings in Enbridge by 74.9% in the third quarter. McIlrath & Eck LLC now owns 689 shares of the pipeline company’s stock valued at $28,000 after acquiring an additional 295 shares during the period. Ameritas Investment Partners Inc. purchased a new stake in shares of Enbridge during the 1st quarter worth $29,000. Finally, Grove Bank & Trust increased its holdings in shares of Enbridge by 56.7% in the 3rd quarter. Grove Bank & Trust now owns 771 shares of the pipeline company’s stock valued at $31,000 after purchasing an additional 279 shares in the last quarter. 54.60% of the stock is currently owned by institutional investors and hedge funds.

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.