Enbridge (NYSE:ENB) Stock Price Down 0.3% – Here’s Why

Shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) dropped 0.3% during mid-day trading on Tuesday . The stock traded as low as $42.35 and last traded at $42.45. Approximately 422,438 shares changed hands during trading, a decline of 91% from the average daily volume of 4,855,772 shares. The stock had previously closed at $42.56.

Analyst Ratings Changes

A number of brokerages have recently issued reports on ENB. Jefferies Financial Group downgraded Enbridge from a “buy” rating to a “hold” rating in a report on Monday, September 30th. Morgan Stanley assumed coverage on Enbridge in a research note on Friday, October 25th. They issued an “equal weight” rating on the stock. 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 Trading Down 0.5 %

The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.54 and a current ratio of 0.62. The company has a market cap of $93.19 billion, a price-to-earnings ratio of 19.81, a P/E/G ratio of 4.18 and a beta of 0.93. The company’s fifty day moving average is $41.29 and its two-hundred day moving average is $38.59.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings results on Friday, November 1st. The pipeline company reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.40 by $0.15. Enbridge had a net margin of 13.54% and a return on equity of 9.94%. The firm had revenue of $10.91 billion for the quarter, compared to the consensus estimate of $4.54 billion. During the same period in the prior year, the firm posted $0.46 earnings per share. On average, research analysts anticipate that Enbridge Inc. will post 2.06 EPS for the current year.

Enbridge Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Investors of record on Friday, November 15th will be issued a $0.676 dividend. This represents a $2.70 annualized dividend and a yield of 6.32%. This is a boost from Enbridge’s previous quarterly dividend of $0.67. The ex-dividend date is Friday, November 15th. Enbridge’s payout ratio is presently 121.76%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Passumpsic Savings Bank raised its stake in shares of Enbridge by 2.4% in the 3rd quarter. Passumpsic Savings Bank now owns 11,575 shares of the pipeline company’s stock valued at $470,000 after acquiring an additional 276 shares during the period. McIlrath & Eck LLC raised its position in Enbridge by 74.9% in the third quarter. McIlrath & Eck LLC now owns 689 shares of the pipeline company’s stock valued at $28,000 after purchasing an additional 295 shares during the period. Soltis Investment Advisors LLC lifted its stake in Enbridge by 3.4% during the third quarter. Soltis Investment Advisors LLC now owns 179,301 shares of the pipeline company’s stock worth $7,281,000 after purchasing an additional 5,902 shares in the last quarter. Hobbs Group Advisors LLC boosted its position in shares of Enbridge by 15.1% during the third quarter. Hobbs Group Advisors LLC now owns 1,897 shares of the pipeline company’s stock worth $77,000 after buying an additional 249 shares during the period. Finally, Coldstream Capital Management Inc. acquired a new position in Enbridge during the 3rd quarter worth about $203,000. 54.60% of the stock is owned by hedge funds and other 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.