Enbridge (NYSE:ENB) Stock Price Up 0.2% – Should You Buy?

Shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) were up 0.2% during trading on Wednesday . The stock traded as high as $42.78 and last traded at $42.77. Approximately 672,220 shares traded hands during mid-day trading, a decline of 86% from the average daily volume of 4,846,726 shares. The stock had previously closed at $42.70.

Analyst Ratings Changes

Several brokerages have weighed in on ENB. Jefferies Financial Group downgraded Enbridge from a “buy” rating to a “hold” rating in a report on Monday, September 30th. Wells Fargo & Company upgraded Enbridge from an “underweight” rating to an “equal weight” rating in a research report on Wednesday, November 6th. Finally, Morgan Stanley assumed coverage on Enbridge in a research note on Friday, October 25th. They issued an “equal weight” rating on the stock.

Enbridge Stock Performance

The company has a market cap of $93.44 billion, a PE ratio of 19.86, a P/E/G ratio of 4.22 and a beta of 0.93. The stock’s 50 day simple moving average is $41.57 and its two-hundred day simple moving average is $38.82. The company has a quick ratio of 0.54, a current ratio of 0.62 and a debt-to-equity ratio of 1.41.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings data on Friday, November 1st. The pipeline company reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.15. Enbridge had a return on equity of 9.94% and a net margin of 13.54%. The business had revenue of $10.91 billion during the quarter, compared to the consensus estimate of $4.54 billion. During the same period in the prior year, the firm posted $0.46 EPS. As a group, research analysts anticipate that Enbridge Inc. will post 2.04 earnings per share for the current year.

Enbridge Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Friday, November 15th will be paid a $0.676 dividend. This is a positive change from Enbridge’s previous quarterly dividend of $0.67. This represents a $2.70 annualized dividend and a dividend yield of 6.30%. The ex-dividend date of this dividend is Friday, November 15th. Enbridge’s payout ratio is currently 121.76%.

Institutional Trading of Enbridge

Institutional investors and hedge funds have recently bought and sold shares of the business. Cibc World Market Inc. grew its stake in Enbridge by 12.8% during the second quarter. Cibc World Market Inc. now owns 32,531,675 shares of the pipeline company’s stock worth $1,157,802,000 after buying an additional 3,693,495 shares during the period. CIBC Asset Management Inc lifted its holdings in shares of Enbridge by 4.0% during the 3rd quarter. CIBC Asset Management Inc now owns 24,161,024 shares of the pipeline company’s stock valued at $984,205,000 after acquiring an additional 936,863 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC boosted its position in Enbridge by 3.7% during the 2nd 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 period. Toronto Dominion Bank increased its holdings in Enbridge by 3.6% in the 2nd quarter. Toronto Dominion Bank now owns 18,703,423 shares of the pipeline company’s stock valued at $665,655,000 after purchasing an additional 644,526 shares in the last quarter. Finally, National Bank of Canada FI raised its position in Enbridge by 12.8% in the third quarter. National Bank of Canada FI now owns 18,163,353 shares of the pipeline company’s stock valued at $737,754,000 after purchasing an additional 2,061,758 shares during the period. Institutional investors and hedge funds own 54.60% of the company’s stock.

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.