Enbridge (NYSE:ENB) Research Coverage Started at Morgan Stanley

Morgan Stanley began coverage on shares of Enbridge (NYSE:ENB) (TSE:ENB) in a report issued on Friday morning, StockNewsAPI reports. The brokerage issued an equal weight rating on the pipeline company’s stock.

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

Enbridge Stock Down 0.5 %

ENB opened at $40.94 on Friday. The business has a 50 day moving average price of $40.60 and a two-hundred day moving average price of $37.76. Enbridge has a 52 week low of $31.31 and a 52 week high of $42.16. The company has a market cap of $87.36 billion, a PE ratio of 20.78, a P/E/G ratio of 4.00 and a beta of 0.93. The company has a quick ratio of 0.68, a current ratio of 0.77 and a debt-to-equity ratio of 1.34.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings results on Friday, August 2nd. The pipeline company reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.13. The firm had revenue of $8.29 billion during the quarter, compared to the consensus estimate of $4.28 billion. Enbridge had a return on equity of 10.07% and a net margin of 13.31%. During the same period last year, the company earned $0.51 earnings per share. As a group, research analysts anticipate that Enbridge will post 2.08 EPS for the current year.

Enbridge Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Thursday, August 15th were given a dividend of $0.669 per share. This represents a $2.68 dividend on an annualized basis and a yield of 6.54%. The ex-dividend date was Thursday, August 15th. Enbridge’s payout ratio is currently 134.01%.

Hedge Funds Weigh In On Enbridge

Several hedge funds have recently bought and sold shares of ENB. Pathway Financial Advisers LLC boosted its stake in shares of Enbridge by 4,120.0% during the third quarter. Pathway Financial Advisers LLC now owns 4,571,669 shares of the pipeline company’s stock valued at $185,655,000 after acquiring an additional 4,463,335 shares during the last quarter. M&G Plc acquired a new stake in shares of Enbridge during the 1st quarter worth about $152,843,000. Cibc World Market Inc. grew its holdings in shares of 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 in the last quarter. Canada Pension Plan Investment Board raised its position in shares of Enbridge by 66.9% in the first quarter. Canada Pension Plan Investment Board now owns 9,044,864 shares of the pipeline company’s stock valued at $327,172,000 after buying an additional 3,624,089 shares during the last quarter. Finally, National Bank of Canada FI lifted its stake in shares of Enbridge by 11.3% during the first quarter. National Bank of Canada FI now owns 21,664,748 shares of the pipeline company’s stock valued at $818,370,000 after buying an additional 2,203,123 shares during the period. 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.