Enbridge (NYSE:ENB) Trading 0.5% Higher – Should You Buy?

Enbridge Inc. (NYSE:ENB) (TSE:ENB)’s share price traded up 0.5% on Friday . The company traded as high as $40.89 and last traded at $40.60. 1,041,209 shares were traded during mid-day trading, a decline of 79% from the average session volume of 4,867,644 shares. The stock had previously closed at $40.40.

Analysts Set New Price Targets

A number of analysts have commented on the company. Jefferies Financial Group cut Enbridge from a “buy” rating to a “hold” rating in a research report on Monday, September 30th. Morgan Stanley assumed coverage on Enbridge in a research report on Friday, October 25th. They set an “equal weight” rating for the company.

Enbridge Trading Down 0.4 %

The company has a 50 day simple moving average of $40.72 and a 200 day simple moving average of $37.89. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.68 and a current ratio of 0.77. The company has a market capitalization of $87.61 billion, a PE ratio of 21.03, a price-to-earnings-growth ratio of 3.93 and a beta of 0.93.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings data on Friday, August 2nd. The pipeline company reported $0.58 EPS 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 firm had revenue of $8.29 billion for the quarter, compared to analysts’ expectations of $4.28 billion. During the same period in the prior year, the firm posted $0.51 earnings per share. Analysts anticipate that Enbridge Inc. will post 2.07 earnings per share for the current year.

Enbridge Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Friday, November 15th will be given a dividend of $0.676 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.70 dividend on an annualized basis and a dividend yield of 6.72%. This is a positive change from Enbridge’s previous quarterly dividend of $0.67. Enbridge’s dividend payout ratio is currently 137.50%.

Institutional Trading of Enbridge

A number of large investors have recently modified their holdings of ENB. Vanguard Group Inc. increased its holdings in Enbridge by 1.5% in the first quarter. Vanguard Group Inc. now owns 84,280,486 shares of the pipeline company’s stock valued at $3,049,268,000 after buying an additional 1,227,031 shares during the last quarter. TD Asset Management Inc increased its holdings in Enbridge by 0.9% in the first quarter. TD Asset Management Inc now owns 38,087,489 shares of the pipeline company’s stock valued at $1,377,708,000 after buying an additional 337,729 shares during the last quarter. 1832 Asset Management L.P. increased its holdings in Enbridge by 3.9% in the first quarter. 1832 Asset Management L.P. now owns 36,649,579 shares of the pipeline company’s stock valued at $1,325,982,000 after buying an additional 1,360,439 shares during the last quarter. Cibc World Market Inc. increased its holdings in Enbridge by 12.8% in the second quarter. Cibc World Market Inc. now owns 32,531,675 shares of the pipeline company’s stock valued at $1,157,802,000 after buying an additional 3,693,495 shares during the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC grew its holdings in shares of Enbridge by 3.7% during the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 23,083,951 shares of the pipeline company’s stock worth $821,331,000 after purchasing an additional 827,540 shares during the last quarter. 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.