Enbridge (NYSE:ENB) Trading Down 0.7% – Should You Sell?

Shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) fell 0.7% during mid-day trading on Tuesday . The company traded as low as $42.33 and last traded at $42.47. 905,932 shares changed hands during mid-day trading, a decline of 81% from the average session volume of 4,863,684 shares. The stock had previously closed at $42.78.

Analyst Ratings Changes

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

Enbridge Stock Performance

The stock has a 50-day simple moving average of $40.98 and a 200-day simple moving average of $38.28. The company has a debt-to-equity ratio of 1.41, a current ratio of 0.62 and a quick ratio of 0.68. The stock has a market cap of $91.84 billion, a PE ratio of 19.58, a P/E/G ratio of 4.11 and a beta of 0.93.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings results 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 business had revenue of $10.91 billion for the quarter, compared to analysts’ expectations of $4.54 billion. During the same period in the prior year, the firm earned $0.46 EPS. Equities analysts predict that Enbridge Inc. will post 2.06 earnings per share for the current fiscal year.

Enbridge Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Friday, November 15th will be given a dividend of $0.676 per share. This represents a $2.70 dividend on an annualized basis and a dividend yield of 6.41%. The ex-dividend date of this dividend is Friday, November 15th. This is an increase from Enbridge’s previous quarterly dividend of $0.67. Enbridge’s dividend payout ratio is 121.76%.

Institutional Trading of Enbridge

Several hedge funds and other institutional investors have recently modified their holdings of the company. TruNorth Capital Management LLC bought a new position in Enbridge during the second quarter worth about $28,000. William B. Walkup & Associates Inc. bought a new position in Enbridge during the second quarter worth about $28,000. Ameritas Investment Partners Inc. bought a new position in shares of Enbridge in the first quarter valued at approximately $29,000. Grove Bank & Trust raised its stake in shares of Enbridge by 56.7% in the third quarter. Grove Bank & Trust now owns 771 shares of the pipeline company’s stock valued at $31,000 after acquiring an additional 279 shares during the last quarter. Finally, MFA Wealth Advisors LLC raised its stake in shares of 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 acquiring an additional 280 shares during the last quarter. 54.60% of the stock is currently owned by hedge funds and other institutional investors.

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.