Enbridge (NYSE:ENB) Trading 0.5% Higher – What’s Next?

Enbridge Inc. (NYSE:ENB) (TSE:ENB)’s stock price shot up 0.5% during trading on Wednesday . The stock traded as high as $44.02 and last traded at $43.72. 679,415 shares traded hands during trading, a decline of 86% from the average session volume of 4,846,427 shares. The stock had previously closed at $43.49.

Analysts Set New Price Targets

Several research firms have recently issued reports on ENB. Jefferies Financial Group lowered Enbridge from a “buy” rating to a “hold” rating in a research report on Monday, September 30th. Royal Bank of Canada reissued an “outperform” rating and issued a $63.00 price target (up previously from $59.00) on shares of Enbridge in a report on Wednesday. Wells Fargo & Company upgraded Enbridge from an “underweight” rating to an “equal weight” rating in a report on Wednesday, November 6th. Finally, Morgan Stanley assumed coverage on Enbridge in a research report on Friday, October 25th. They issued an “equal weight” rating for the company. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $63.00.

Enbridge Stock Performance

The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.54 and a current ratio of 0.62. The firm has a market capitalization of $95.62 billion, a price-to-earnings ratio of 20.33, a PEG ratio of 4.27 and a beta of 0.94. The company has a fifty day moving average of $41.84 and a two-hundred day moving average of $39.05.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings results on Friday, November 1st. The pipeline company reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.15. The company had revenue of $10.91 billion for 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 last year, the company posted $0.46 EPS. As a group, equities research analysts predict that Enbridge Inc. will post 2.04 earnings per share for the current fiscal year.

Enbridge Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Saturday, February 15th will be issued a dividend of $0.67 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.68 annualized dividend and a dividend yield of 6.11%. Enbridge’s dividend payout ratio (DPR) is presently 121.76%.

Institutional Investors Weigh In On Enbridge

Hedge funds and other institutional investors have recently bought and sold shares of the company. TruNorth Capital Management LLC acquired a new position in Enbridge in the 2nd quarter valued at approximately $28,000. William B. Walkup & Associates Inc. bought a new stake in shares of Enbridge in the second quarter worth $28,000. McIlrath & Eck LLC increased its stake in shares of Enbridge by 74.9% in the third quarter. McIlrath & Eck LLC now owns 689 shares of the pipeline company’s stock valued at $28,000 after buying an additional 295 shares during the period. Grove Bank & Trust boosted its holdings 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 acquiring an additional 279 shares during the last quarter. Finally, MFA Wealth Advisors LLC increased its position in Enbridge by 55.6% during the 3rd quarter. MFA Wealth Advisors LLC now owns 784 shares of the pipeline company’s stock valued at $32,000 after purchasing an additional 280 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.