Enbridge (NYSE:ENB) Trading Up 0.8% – Still a Buy?

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

Wall Street Analyst Weigh In

Several brokerages recently weighed in on ENB. Morgan Stanley began coverage on Enbridge in a research note on Friday, October 25th. They issued an “equal weight” rating on the stock. Jefferies Financial Group cut shares of Enbridge from a “buy” rating to a “hold” rating in a research note on Monday, September 30th. Finally, Wells Fargo & Company upgraded Enbridge from an “underweight” rating to an “equal weight” rating in a research report on Wednesday. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $55.00.

Enbridge Stock Up 1.2 %

The company has a market cap of $90.45 billion, a P/E ratio of 19.23, a price-to-earnings-growth ratio of 3.97 and a beta of 0.93. 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 company has a 50 day moving average of $40.82 and a 200-day moving average of $38.12.

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

Enbridge Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Sunday, December 1st. Investors of record on Friday, November 15th will be given a $0.676 dividend. This represents a $2.70 dividend on an annualized basis and a yield of 6.51%. The ex-dividend date of this dividend is Friday, November 15th. This is a boost from Enbridge’s previous quarterly dividend of $0.67. Enbridge’s dividend payout ratio (DPR) is presently 122.22%.

Institutional Trading of Enbridge

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. TruNorth Capital Management LLC purchased a new stake in shares of Enbridge during the second quarter worth about $28,000. William B. Walkup & Associates Inc. bought a new stake in shares of Enbridge in the 2nd quarter worth approximately $28,000. Ameritas Investment Partners Inc. purchased a new position in shares of Enbridge during the first quarter valued at approximately $29,000. Richardson Financial Services Inc. bought a new position in shares of Enbridge during the first quarter valued at approximately $31,000. Finally, Grove Bank & Trust lifted its stake in Enbridge by 56.7% in the third quarter. Grove Bank & Trust now owns 771 shares of the pipeline company’s stock worth $31,000 after acquiring an additional 279 shares during the period. Institutional investors own 54.60% of the company’s stock.

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.