Enbridge (NYSE:ENB) Sees Unusually-High Trading Volume - Still a Buy?

Shares of Enbridge Inc. (NYSE:ENB - Get Free Report) TSE: ENB saw unusually-strong trading volume on Wednesday . Approximately 7,284,256 shares traded hands during mid-day trading, an increase of 84% from the previous session's volume of 3,958,051 shares.The stock last traded at $45.24 and had previously closed at $45.25.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on ENB shares. TD Securities started coverage on Enbridge in a research report on Wednesday, January 15th. They set a "buy" rating for the company. Wells Fargo & Company raised Enbridge from an "underweight" rating to an "equal weight" rating in a research report on Wednesday, November 6th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $63.00 price objective (up previously from $59.00) on shares of Enbridge in a research report on Wednesday, December 4th. Finally, Morgan Stanley started coverage on Enbridge in a research report on Friday, October 25th. They set an "equal weight" rating for the company. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $63.00.

Enbridge Trading Down 5.1 %

The firm has a market cap of $93.95 billion, a P/E ratio of 19.97, a price-to-earnings-growth ratio of 4.08 and a beta of 0.94. The stock has a fifty day simple moving average of $43.33 and a 200 day simple moving average of $41.73. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.54 and a current ratio of 0.62.

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Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last posted its earnings results on Friday, February 14th. The pipeline company reported $0.75 EPS for the quarter, topping analysts' consensus estimates of $0.52 by $0.23. The business had revenue of $11.59 billion during the quarter, compared to analyst estimates of $4.78 billion. Enbridge had a return on equity of 9.94% and a net margin of 13.54%. During the same quarter last year, the company earned $0.64 EPS. On average, research analysts expect that Enbridge Inc. will post 1.97 earnings per share for the current fiscal year.

Enbridge Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Saturday, February 15th will be paid a $0.67 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 6.21%. Enbridge's dividend payout ratio (DPR) is currently 121.76%.

Hedge Funds Weigh In On Enbridge

Institutional investors and hedge funds have recently modified their holdings of the company. Swiss National Bank boosted its stake in shares of Enbridge by 3.2% in the 3rd quarter. Swiss National Bank now owns 6,585,231 shares of the pipeline company's stock worth $267,935,000 after buying an additional 207,200 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Enbridge by 70.7% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 1,296,374 shares of the pipeline company's stock worth $52,648,000 after buying an additional 536,818 shares during the last quarter. Duff & Phelps Investment Management Co. boosted its stake in shares of Enbridge by 32.6% in the 3rd quarter. Duff & Phelps Investment Management Co. now owns 1,302,132 shares of the pipeline company's stock worth $52,880,000 after buying an additional 319,907 shares during the last quarter. Sound Income Strategies LLC boosted its stake in shares of Enbridge by 8.6% in the 4th quarter. Sound Income Strategies LLC now owns 631,820 shares of the pipeline company's stock worth $26,808,000 after buying an additional 49,800 shares during the last quarter. Finally, Pinnacle Financial Partners Inc boosted its stake in shares of Enbridge by 8.8% in the 3rd quarter. Pinnacle Financial Partners Inc now owns 188,244 shares of the pipeline company's stock worth $7,650,000 after buying an additional 15,207 shares during the last quarter. 54.60% of the stock is currently owned by hedge funds and other institutional investors.

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.