Enbridge (NYSE:ENB) Trading 0.8% Higher – Time to Buy?

Enbridge Inc. (NYSE:ENB) (TSE:ENB)’s stock price shot up 0.8% on Monday . The company traded as high as $42.73 and last traded at $42.67. 601,001 shares were traded during trading, a decline of 88% from the average session volume of 4,872,663 shares. The stock had previously closed at $42.33.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Morgan Stanley started coverage on shares of Enbridge in a research report on Friday, October 25th. They issued an “equal weight” rating on the stock. Jefferies Financial Group cut Enbridge from a “buy” rating to a “hold” rating in a report 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, November 6th.

Enbridge Trading Up 1.0 %

The stock has a market capitalization of $93.10 billion, a PE ratio of 19.75, a P/E/G ratio of 4.11 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’s 50 day moving average price is $40.92 and its two-hundred day moving average price is $38.23.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings results on Friday, November 1st. The pipeline company reported $0.55 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analyst estimates of $4.54 billion. During the same period in the prior year, the business earned $0.46 earnings per share. As a group, analysts expect that Enbridge Inc. will post 2.06 earnings per share for the current year.

Enbridge Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Friday, November 15th will be issued a dividend of $0.676 per share. This represents a $2.70 annualized dividend and a dividend yield of 6.33%. The ex-dividend date is Friday, November 15th. This is a positive change from Enbridge’s previous quarterly dividend of $0.67. Enbridge’s payout ratio is currently 122.22%.

Institutional Investors Weigh In On Enbridge

Hedge funds have recently modified their holdings of the company. Sei Investments Co. grew its position in Enbridge by 6.1% in the first quarter. Sei Investments Co. now owns 274,235 shares of the pipeline company’s stock worth $9,922,000 after acquiring an additional 15,650 shares during the period. Stonegate Investment Group LLC grew its holdings in shares of Enbridge by 66.5% during the 3rd quarter. Stonegate Investment Group LLC now owns 33,833 shares of the pipeline company’s stock worth $1,374,000 after purchasing an additional 13,515 shares during the period. Lindbrook Capital LLC increased its position in shares of Enbridge by 816.2% during the 3rd quarter. Lindbrook Capital LLC now owns 21,714 shares of the pipeline company’s stock worth $882,000 after purchasing an additional 19,344 shares during the last quarter. State Board of Administration of Florida Retirement System purchased a new stake in Enbridge in the 1st quarter valued at about $1,133,000. Finally, Ted Buchan & Co lifted its position in Enbridge by 43.5% in the third quarter. Ted Buchan & Co now owns 48,799 shares of the pipeline company’s stock valued at $1,985,000 after buying an additional 14,791 shares during the last quarter. Hedge funds and other institutional investors own 54.60% of the company’s stock.

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.