Enbridge (NYSE:ENB) Trading 0.1% Higher – Should You Buy?

Enbridge Inc. (NYSE:ENB) (TSE:ENB)’s share price shot up 0.1% on Wednesday . The company traded as high as $40.52 and last traded at $40.44. 472,616 shares changed hands during mid-day trading, a decline of 90% from the average session volume of 4,870,519 shares. The stock had previously closed at $40.40.

Analyst Ratings Changes

ENB has been the subject of a number of recent research reports. Jefferies Financial Group downgraded shares of Enbridge from a “buy” rating to a “hold” rating in a research note on Monday, September 30th. Morgan Stanley began coverage on shares of Enbridge in a report on Friday, October 25th. They set an “equal weight” rating for the company.

Enbridge Trading Up 0.3 %

The business has a fifty day moving average price of $40.66 and a 200 day moving average price of $37.85. The company has a market capitalization of $86.47 billion, a P/E ratio of 20.54, a price-to-earnings-growth ratio of 4.00 and a beta of 0.93. The company has a quick ratio of 0.68, a current ratio of 0.77 and a debt-to-equity ratio of 1.34.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings results on Friday, August 2nd. The pipeline company reported $0.58 EPS for the quarter, beating the consensus estimate of $0.45 by $0.13. Enbridge had a return on equity of 10.07% and a net margin of 13.31%. The firm had revenue of $8.29 billion during the quarter, compared to analysts’ expectations of $4.28 billion. During the same period in the prior year, the firm posted $0.51 earnings per share. On average, analysts expect that Enbridge Inc. will post 2.08 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Wealthcare Advisory Partners LLC raised its stake in Enbridge by 7.1% in the first quarter. Wealthcare Advisory Partners LLC now owns 7,960 shares of the pipeline company’s stock valued at $288,000 after purchasing an additional 530 shares in the last quarter. Norden Group LLC bought a new position in Enbridge in the 1st quarter valued at approximately $7,656,000. Cornerstone Wealth Management LLC grew its stake in shares of Enbridge by 3.4% during the first quarter. Cornerstone Wealth Management LLC now owns 28,799 shares of the pipeline company’s stock worth $1,042,000 after buying an additional 938 shares during the last quarter. Insight Folios Inc increased its holdings in shares of Enbridge by 6.3% during the first quarter. Insight Folios Inc now owns 166,657 shares of the pipeline company’s stock worth $6,030,000 after buying an additional 9,881 shares in the last quarter. Finally, American National Bank & Trust Co. VA acquired a new stake in shares of Enbridge during the 1st quarter valued at $1,102,000. 54.60% of the stock is owned by institutional investors and hedge funds.

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.