Enbridge Inc. (NYSE:ENB) Short Interest Update

Enbridge Inc. (NYSE:ENB) (TSE:ENB) was the target of a significant growth in short interest in February. As of February 15th, there was short interest totalling 77,060,000 shares, a growth of 82.3% from the January 31st total of 42,280,000 shares. Approximately 3.5% of the shares of the stock are sold short. Based on an average trading volume of 4,290,000 shares, the short-interest ratio is currently 18.0 days.

Analyst Ratings Changes

ENB has been the subject of several research reports. Wells Fargo & Company raised Enbridge from an “underweight” rating to an “equal weight” rating in a research note on Wednesday, November 6th. TD Securities began coverage on shares of Enbridge in a research note on Wednesday, January 15th. They issued a “buy” rating on the stock. Finally, Royal Bank of Canada upped their price target on Enbridge from $63.00 to $67.00 and gave the company an “outperform” rating in a report on Tuesday, February 18th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $67.00.

Institutional Trading of Enbridge

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. McIlrath & Eck LLC lifted its position 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. Albion Financial Group UT acquired a new position in shares of Enbridge in the fourth quarter valued at $29,000. Wintrust Investments LLC lifted its position in Enbridge by 47.8% in the fourth quarter. Wintrust Investments LLC now owns 736 shares of the pipeline company’s stock worth $31,000 after purchasing an additional 238 shares during the period. GeoWealth Management LLC boosted its stake in Enbridge by 436.4% during the fourth quarter. GeoWealth Management LLC now owns 751 shares of the pipeline company’s stock worth $32,000 after buying an additional 611 shares in the last quarter. Finally, Darwin Wealth Management LLC bought a new stake in Enbridge in the 3rd quarter valued at $37,000. Institutional investors and hedge funds own 54.60% of the company’s stock.

Enbridge Stock Up 2.4 %

Shares of Enbridge stock opened at $42.73 on Friday. The firm has a market cap of $93.11 billion, a price-to-earnings ratio of 24.84, a P/E/G ratio of 3.92 and a beta of 0.94. The stock has a 50-day simple moving average of $43.42 and a 200-day simple moving average of $42.00. Enbridge has a 52-week low of $32.85 and a 52-week high of $45.78. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.55 and a quick ratio of 0.54.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its earnings results on Friday, February 14th. The pipeline company reported $0.75 EPS for the quarter, topping the consensus estimate of $0.52 by $0.23. The firm had revenue of $11.59 billion for the quarter, compared to the consensus estimate of $4.78 billion. Enbridge had a net margin of 10.04% and a return on equity of 10.16%. During the same period in the prior year, the business posted $0.64 earnings per share. On average, equities research analysts expect that Enbridge will post 2.14 earnings per share for the current fiscal year.

Enbridge Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Saturday, March 1st. Stockholders of record on Saturday, February 15th were paid a $0.67 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 6.27%. Enbridge’s payout ratio is presently 155.81%.

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.