Enbridge (NYSE:ENB) Trading 0.8% Higher – Here’s What Happened

Enbridge Inc. (NYSE:ENB) (TSE:ENB) shares traded up 0.8% during mid-day trading on Wednesday . The company traded as high as $41.47 and last traded at $41.39. 927,122 shares traded hands during mid-day trading, a decline of 81% from the average session volume of 4,872,092 shares. The stock had previously closed at $41.05.

Analysts Set New Price Targets

ENB has been the topic of several recent research reports. Jefferies Financial Group downgraded shares of Enbridge from a “buy” rating to a “hold” rating in a research report on Monday, September 30th. Wells Fargo & Company upgraded shares of Enbridge from an “underweight” rating to an “equal weight” rating in a report on Wednesday. Finally, Morgan Stanley started coverage on Enbridge in a report on Friday, October 25th. They issued an “equal weight” rating for the company. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $55.00.

Enbridge Trading Up 1.2 %

The firm’s 50 day simple moving average is $40.82 and its two-hundred day simple moving average is $38.12. The stock has a market capitalization of $90.45 billion, a P/E ratio of 19.23, a P/E/G ratio of 3.97 and a beta of 0.93. The company has a quick ratio of 0.68, a current ratio of 0.62 and a debt-to-equity ratio of 1.41.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings data on Friday, November 1st. The pipeline company reported $0.55 EPS for the quarter, beating the consensus estimate of $0.40 by $0.15. Enbridge had a return on equity of 9.94% and a net margin of 13.54%. The firm had revenue of $10.91 billion during the quarter, compared to the consensus estimate of $4.54 billion. During the same quarter in the previous year, the company posted $0.46 earnings per share. As a group, analysts forecast 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. Shareholders of record on Friday, November 15th will be issued a dividend of $0.676 per share. This is a positive change from Enbridge’s previous quarterly dividend of $0.67. This represents a $2.70 dividend on an annualized basis and a yield of 6.51%. The ex-dividend date is Friday, November 15th. Enbridge’s payout ratio is currently 122.22%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in ENB. Pathway Financial Advisers LLC grew its stake in Enbridge by 4,120.0% in the 3rd quarter. Pathway Financial Advisers LLC now owns 4,571,669 shares of the pipeline company’s stock valued at $185,655,000 after purchasing an additional 4,463,335 shares during the period. M&G Plc purchased a new stake in Enbridge during the first quarter worth about $152,843,000. Cibc World Market Inc. raised its position in Enbridge by 12.8% in the second quarter. Cibc World Market Inc. now owns 32,531,675 shares of the pipeline company’s stock worth $1,157,802,000 after acquiring an additional 3,693,495 shares during the period. Canada Pension Plan Investment Board boosted its stake in Enbridge by 66.9% in the first quarter. Canada Pension Plan Investment Board now owns 9,044,864 shares of the pipeline company’s stock valued at $327,172,000 after acquiring an additional 3,624,089 shares during the last quarter. Finally, National Bank of Canada FI grew its position in shares of Enbridge by 11.3% during the 1st quarter. National Bank of Canada FI now owns 21,664,748 shares of the pipeline company’s stock valued at $818,370,000 after acquiring an additional 2,203,123 shares during the period. 54.60% of the stock is owned by 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.