Enbridge (NYSE:ENB) Sees Strong Trading Volume

Enbridge Inc. (NYSE:ENBGet Rating) (TSE:ENB) saw unusually-high trading volume on Friday . Approximately 194,375 shares were traded during trading, a decline of 93% from the previous session’s volume of 2,778,069 shares.The stock last traded at $38.39 and had previously closed at $40.07.

Wall Street Analysts Forecast Growth

ENB has been the subject of a number of analyst reports. US Capital Advisors downgraded shares of Enbridge from an “overweight” rating to a “hold” rating in a research report on Tuesday, July 26th. Industrial Alliance Securities upgraded shares of Enbridge from a “hold” rating to a “buy” rating and set a C$60.00 price objective for the company in a research report on Wednesday, August 3rd. National Bank Financial upped their price objective on shares of Enbridge from C$60.00 to C$61.00 in a research report on Tuesday, August 2nd. Finally, Raymond James upgraded shares of Enbridge from a “market perform” rating to an “outperform” rating in a report on Monday, September 12th. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $59.75.

Enbridge Stock Performance

The stock has a market capitalization of $76.94 billion, a price-to-earnings ratio of 20.33, a PEG ratio of 2.91 and a beta of 0.79. The stock’s 50 day moving average is $42.76 and its 200 day moving average is $43.84. The company has a current ratio of 0.58, a quick ratio of 0.49 and a debt-to-equity ratio of 1.21.

Enbridge (NYSE:ENBGet Rating) (TSE:ENB) last issued its quarterly earnings data on Friday, July 29th. The pipeline company reported $0.67 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.10. Enbridge had a net margin of 9.98% and a return on equity of 10.46%. During the same period in the previous year, the business posted $0.55 EPS. On average, analysts predict that Enbridge Inc. will post 2.3 earnings per share for the current year.

Enbridge Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 1st. Shareholders of record on Monday, August 15th were paid a dividend of $0.668 per share. The ex-dividend date was Friday, August 12th. This represents a $2.67 annualized dividend and a dividend yield of 7.03%. Enbridge’s dividend payout ratio is currently 140.00%.

Institutional Investors Weigh In On Enbridge

Several hedge funds have recently modified their holdings of ENB. AE Wealth Management LLC lifted its holdings in shares of Enbridge by 8.8% during the 1st quarter. AE Wealth Management LLC now owns 97,325 shares of the pipeline company’s stock worth $4,486,000 after acquiring an additional 7,871 shares during the period. Van ECK Associates Corp lifted its holdings in shares of Enbridge by 11.4% during the 1st quarter. Van ECK Associates Corp now owns 380,840 shares of the pipeline company’s stock worth $17,537,000 after acquiring an additional 38,820 shares during the period. Schnieders Capital Management LLC purchased a new position in shares of Enbridge during the 1st quarter worth about $217,000. Tranquilli Financial Advisor LLC lifted its holdings in shares of Enbridge by 4.7% during the 1st quarter. Tranquilli Financial Advisor LLC now owns 13,653 shares of the pipeline company’s stock worth $629,000 after acquiring an additional 617 shares during the period. Finally, Gateway Investment Advisers LLC purchased a new position in shares of Enbridge during the 1st quarter worth about $2,648,000. 49.26% of the stock is owned by institutional investors and hedge funds.

Enbridge Company Profile

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Enbridge Inc 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.

Further Reading

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