Enbridge (NYSE:ENB) Sets New 1-Year High – Here’s What Happened

Enbridge Inc. (NYSE:ENB) (TSE:ENB)’s share price hit a new 52-week high during trading on Monday . The company traded as high as $42.06 and last traded at $42.06, with a volume of 4768 shares trading hands. The stock had previously closed at $41.98.

Analyst Ratings Changes

Separately, Jefferies Financial Group lowered Enbridge from a “buy” rating to a “hold” rating in a report on Monday, September 30th.

Enbridge Price Performance

The company has a debt-to-equity ratio of 1.34, a current ratio of 0.77 and a quick ratio of 0.68. The stock has a market capitalization of $88.46 billion, a price-to-earnings ratio of 21.04, a PEG ratio of 3.94 and a beta of 0.93. The business’s fifty day moving average price is $40.47 and its 200-day moving average price is $37.63.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its earnings results on Friday, August 2nd. The pipeline company reported $0.58 earnings per share for the quarter, beating analysts’ consensus estimates of $0.45 by $0.13. Enbridge had a return on equity of 10.07% and a net margin of 13.31%. The company had revenue of $8.29 billion for the quarter, compared to analyst estimates of $4.28 billion. During the same quarter last year, the company earned $0.51 earnings per share. On average, research analysts forecast that Enbridge Inc. will post 2.08 EPS for the current year.

Enbridge Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Thursday, August 15th were issued a dividend of $0.669 per share. This represents a $2.68 dividend on an annualized basis and a yield of 6.46%. The ex-dividend date was Thursday, August 15th. Enbridge’s dividend payout ratio is 134.01%.

Institutional Trading of Enbridge

Several institutional investors and hedge funds have recently made changes to their positions in the company. Grove Bank & Trust increased its position in shares of Enbridge by 56.7% during 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. MFA Wealth Advisors LLC increased its position in shares of 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 last quarter. TruNorth Capital Management LLC purchased a new position in shares of Enbridge in the 2nd quarter worth about $28,000. William B. Walkup & Associates Inc. purchased a new position in shares of Enbridge in the 2nd quarter worth about $28,000. Finally, Ameritas Investment Partners Inc. purchased a new position in shares of Enbridge in the 1st quarter worth about $29,000. Hedge funds and other 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.