Enbridge (NYSE:ENB) Shares Down 1.4% – Here’s What Happened

Enbridge Inc. (NYSE:ENB) (TSE:ENB) was down 1.4% on Monday . The company traded as low as $42.68 and last traded at $42.79. Approximately 632,844 shares changed hands during mid-day trading, a decline of 87% from the average daily volume of 4,833,667 shares. The stock had previously closed at $43.38.

Analyst Ratings Changes

A number of brokerages have recently issued reports on ENB. Morgan Stanley started coverage on shares of Enbridge in a research report on Friday, October 25th. They set an “equal weight” rating 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. Finally, Wells Fargo & Company raised shares of Enbridge from an “underweight” rating to an “equal weight” rating in a report on Wednesday, November 6th.

Enbridge Trading Down 0.3 %

The company has a quick ratio of 0.54, a current ratio of 0.62 and a debt-to-equity ratio of 1.41. The stock has a market capitalization of $94.20 billion, a price-to-earnings ratio of 19.81, a P/E/G ratio of 4.26 and a beta of 0.93. The company has a fifty day moving average of $41.62 and a two-hundred day moving average of $38.89.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its earnings results on Friday, November 1st. The pipeline company reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.15. The business had revenue of $10.91 billion for the quarter, compared to the consensus estimate of $4.54 billion. Enbridge had a net margin of 13.54% and a return on equity of 9.94%. During the same quarter in the previous year, the firm earned $0.46 earnings per share. On average, research analysts expect that Enbridge Inc. will post 2.04 EPS for the current year.

Enbridge Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Sunday, December 1st. Investors of record on Friday, November 15th were paid a $0.676 dividend. The ex-dividend date was Friday, November 15th. 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 dividend yield of 6.25%. Enbridge’s payout ratio is 121.76%.

Institutional Investors Weigh In On Enbridge

Hedge funds and other institutional investors have recently bought and sold shares of the business. TruNorth Capital Management LLC acquired a new stake in shares of Enbridge in the second quarter valued at about $28,000. William B. Walkup & Associates Inc. purchased a new stake in shares of Enbridge during the 2nd quarter worth approximately $28,000. McIlrath & Eck LLC grew its holdings in shares of Enbridge by 74.9% in the 3rd quarter. McIlrath & Eck LLC now owns 689 shares of the pipeline company’s stock worth $28,000 after acquiring an additional 295 shares during the period. Grove Bank & Trust raised its holdings 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 purchasing an additional 279 shares during the last quarter. Finally, 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 valued at $32,000 after purchasing an additional 280 shares during the last quarter. Institutional investors and hedge funds own 54.60% of the company’s stock.

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.