Enbridge (NYSE:ENB) Shares Down 0.7% – Should You Sell?

Enbridge Inc. (NYSE:ENB) (TSE:ENB) shares fell 0.7% during mid-day trading on Tuesday . The company traded as low as $42.33 and last traded at $42.47. 905,932 shares traded hands during trading, a decline of 81% from the average session volume of 4,863,684 shares. The stock had previously closed at $42.78.

Analyst Ratings Changes

A number of analysts recently weighed in on the company. Wells Fargo & Company upgraded Enbridge from an “underweight” rating to an “equal weight” rating in a research report on Wednesday, November 6th. Jefferies Financial Group downgraded Enbridge from a “buy” rating to a “hold” rating in a research report on Monday, September 30th. Finally, Morgan Stanley assumed coverage on Enbridge in a research report on Friday, October 25th. They issued an “equal weight” rating for the company.

Enbridge Stock Up 1.4 %

The company has a current ratio of 0.62, a quick ratio of 0.54 and a debt-to-equity ratio of 1.41. The stock has a 50 day simple moving average of $41.06 and a 200 day simple moving average of $38.35. The firm has a market capitalization of $93.84 billion, a PE ratio of 19.82, a PEG ratio of 4.10 and a beta of 0.93.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings results on Friday, November 1st. The pipeline company reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.15. The business had revenue of $10.91 billion for the quarter, compared to analysts’ expectations of $4.54 billion. Enbridge had a return on equity of 9.94% and a net margin of 13.54%. During the same period in the previous year, the firm earned $0.46 EPS. As a group, sell-side analysts forecast 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. Shareholders of record on Friday, November 15th will be paid a $0.676 dividend. This is a boost from Enbridge’s previous quarterly dividend of $0.67. This represents a $2.70 dividend on an annualized basis and a yield of 6.28%. The ex-dividend date is Friday, November 15th. Enbridge’s payout ratio is 122.22%.

Hedge Funds Weigh In On Enbridge

Several hedge funds have recently made changes to their positions in ENB. TruNorth Capital Management LLC purchased a new position in shares of Enbridge during the second quarter valued at approximately $28,000. William B. Walkup & Associates Inc. purchased a new stake in Enbridge in the second quarter worth $28,000. Ameritas Investment Partners Inc. purchased a new stake in Enbridge in the first quarter worth $29,000. Grove Bank & Trust grew 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 purchasing an additional 279 shares during the period. Finally, MFA Wealth Advisors LLC grew its stake in Enbridge by 55.6% in the third quarter. MFA Wealth Advisors LLC now owns 784 shares of the pipeline company’s stock worth $32,000 after purchasing an additional 280 shares during the period. 54.60% of the stock is owned by hedge funds and other 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.