Enbridge (NYSE:ENB) Trading Up 0.2% – Still a Buy?

Enbridge Inc. (NYSE:ENB) (TSE:ENB)’s share price was up 0.2% during trading on Friday . The stock traded as high as $43.69 and last traded at $43.58. Approximately 469,444 shares changed hands during mid-day trading, a decline of 90% from the average daily volume of 4,836,571 shares. The stock had previously closed at $43.49.

Wall Street Analyst Weigh In

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

Enbridge Stock Down 0.5 %

The stock has a 50-day moving average price of $41.40 and a 200-day moving average price of $38.68. 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 $94.22 billion, a P/E ratio of 20.03, a P/E/G ratio of 4.23 and a beta of 0.93.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings results on Friday, November 1st. The pipeline company reported $0.55 earnings per share (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 9.94%. The firm had revenue of $10.91 billion during the quarter, compared to analyst estimates of $4.54 billion. During the same quarter last year, the business earned $0.46 EPS. On average, research analysts predict that Enbridge Inc. will post 2.06 EPS for the current fiscal year.

Enbridge Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders of record on Friday, November 15th will be issued a dividend of $0.676 per share. This is an increase from Enbridge’s previous quarterly dividend of $0.67. This represents a $2.70 dividend on an annualized basis and a yield of 6.25%. The ex-dividend date is Friday, November 15th. Enbridge’s dividend payout ratio (DPR) is presently 121.76%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. McIlrath & Eck LLC lifted its stake 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 buying an additional 295 shares during the period. Grove Bank & Trust boosted its stake in Enbridge by 56.7% during the third quarter. Grove Bank & Trust now owns 771 shares of the pipeline company’s stock worth $31,000 after acquiring an additional 279 shares in the last quarter. MFA Wealth Advisors LLC grew its holdings in Enbridge by 55.6% in the third quarter. MFA Wealth Advisors LLC now owns 784 shares of the pipeline company’s stock worth $32,000 after purchasing an additional 280 shares during the period. TruNorth Capital Management LLC bought a new stake in Enbridge in the second quarter valued at $28,000. Finally, William B. Walkup & Associates Inc. bought a new position in shares of Enbridge during the 2nd quarter worth about $28,000. 54.60% of the stock is 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.