Enbridge (NYSE:ENB) Shares Down 0.3% – Here’s What Happened

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

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Wells Fargo & Company upgraded shares of Enbridge from an “underweight” rating to an “equal weight” rating in a research report on Wednesday, November 6th. Morgan Stanley assumed coverage on Enbridge in a research report on Friday, October 25th. They set an “equal weight” rating for the company. Finally, Jefferies Financial Group cut shares of Enbridge from a “buy” rating to a “hold” rating in a research note on Monday, September 30th.

Enbridge Trading Up 0.7 %

The business’s 50-day moving average is $41.18 and its two-hundred day moving average is $38.51. 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 market capitalization of $93.37 billion, a PE ratio of 19.65, a PEG ratio of 4.10 and a beta of 0.93.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its earnings results on Friday, November 1st. The pipeline company reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.40 by $0.15. The company had revenue of $10.91 billion for the quarter, compared to analysts’ expectations of $4.54 billion. Enbridge had a net margin of 13.54% and a return on equity of 9.94%. During the same period in the prior year, the company earned $0.46 earnings per share. On average, 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. Shareholders of record on Friday, November 15th will be paid a dividend of $0.676 per share. The ex-dividend date is Friday, November 15th. This represents a $2.70 annualized dividend and a yield of 6.31%. This is an increase from Enbridge’s previous quarterly dividend of $0.67. Enbridge’s payout ratio is presently 121.76%.

Institutional Trading of Enbridge

A number of hedge funds and other institutional investors have recently modified their holdings of the company. TruNorth Capital Management LLC acquired a new position in shares of Enbridge in the 2nd quarter worth $28,000. William B. Walkup & Associates Inc. purchased a new stake in shares of Enbridge during the second quarter worth $28,000. Ameritas Investment Partners Inc. acquired a new stake in Enbridge during the first quarter valued at $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 valued at $31,000 after purchasing an additional 279 shares in the last quarter. Finally, MFA Wealth Advisors LLC increased its position in Enbridge by 55.6% in the 3rd 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 last quarter. 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.