Enbridge (NYSE:ENB) Shares Up 1.2% – Here’s Why

Shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) were up 1.2% during trading on Thursday . The stock traded as high as $43.29 and last traded at $43.29. Approximately 495,763 shares were traded during trading, a decline of 90% from the average daily volume of 4,841,429 shares. The stock had previously closed at $42.79.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on ENB. Jefferies Financial Group cut shares of Enbridge from a “buy” rating to a “hold” rating in a research note on Monday, September 30th. Morgan Stanley assumed coverage on Enbridge in a report on Friday, October 25th. They issued an “equal weight” rating for the company. Finally, Wells Fargo & Company raised shares of Enbridge from an “underweight” rating to an “equal weight” rating in a research report on Wednesday, November 6th.

Enbridge Price Performance

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’s 50 day moving average price is $41.29 and its 200 day moving average price is $38.59. The firm has a market capitalization of $94.53 billion, a P/E ratio of 20.04, a PEG ratio of 4.18 and a beta of 0.93.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings data 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 analyst estimates of $4.54 billion. Enbridge had a net margin of 13.54% and a return on equity of 9.94%. During the same period in the prior year, the business posted $0.46 earnings per share. As a group, sell-side analysts anticipate that Enbridge Inc. will post 2.06 EPS for the current fiscal 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 represents a $2.70 dividend on an annualized basis and a yield of 6.23%. This is a boost from Enbridge’s previous quarterly dividend of $0.67. The ex-dividend date of this dividend is Friday, November 15th. Enbridge’s payout ratio is presently 121.76%.

Hedge Funds Weigh In On Enbridge

Hedge funds have recently made changes to their positions in the business. TruNorth Capital Management LLC bought a new stake in Enbridge during the second quarter worth $28,000. William B. Walkup & Associates Inc. acquired a new stake in Enbridge during the 2nd quarter valued at $28,000. McIlrath & Eck LLC lifted its stake in shares of Enbridge by 74.9% during the 3rd quarter. McIlrath & Eck LLC now owns 689 shares of the pipeline company’s stock worth $28,000 after buying an additional 295 shares during the last quarter. Ameritas Investment Partners Inc. acquired a new stake in Enbridge during the first quarter worth approximately $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 worth $31,000 after purchasing an additional 279 shares during the period. 54.60% of the stock is owned by institutional investors.

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.