Enbridge (NYSE:ENB) Shares Down 0.3% - Here's What Happened

Enbridge Inc. (NYSE:ENB - Get Free Report) TSE: ENB's share price fell 0.3% during trading on Tuesday . The company traded as low as $42.35 and last traded at $42.45. 422,438 shares traded hands during trading, a decline of 91% from the average session volume of 4,855,772 shares. The stock had previously closed at $42.56.

Analysts Set New Price Targets

A number of brokerages recently commented on ENB. Jefferies Financial Group downgraded Enbridge from a "buy" rating to a "hold" rating in a research 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 started coverage on Enbridge in a research report on Friday, October 25th. They issued an "equal weight" rating on the stock.

Enbridge Price Performance

The company has a debt-to-equity ratio of 1.41, a current ratio of 0.62 and a quick ratio of 0.54. The stock has a 50 day moving average price of $41.18 and a two-hundred day moving average price of $38.51. The firm has a market capitalization of $93.37 billion, a price-to-earnings ratio of 19.65, a PEG ratio of 4.10 and a beta of 0.93.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last posted its quarterly earnings results on Friday, November 1st. The pipeline company reported $0.55 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.40 by $0.15. The company had revenue of $10.91 billion for the quarter, compared to analyst estimates of $4.54 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 $0.46 EPS. As a group, analysts expect that Enbridge Inc. will post 2.06 EPS for the current year.

Enbridge Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Sunday, December 1st. Investors of record on Friday, November 15th will be given a $0.676 dividend. This is an increase from Enbridge's previous quarterly dividend of $0.67. The ex-dividend date is Friday, November 15th. This represents a $2.70 annualized dividend and a yield of 6.31%. Enbridge's dividend payout ratio is 121.76%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. 1832 Asset Management L.P. grew its position in Enbridge by 3.9% during the 1st quarter. 1832 Asset Management L.P. now owns 36,649,579 shares of the pipeline company's stock worth $1,325,982,000 after purchasing an additional 1,360,439 shares during the last quarter. Cibc World Market Inc. grew its position in Enbridge by 12.8% during the 2nd quarter. Cibc World Market Inc. now owns 32,531,675 shares of the pipeline company's stock worth $1,157,802,000 after purchasing an additional 3,693,495 shares during the last quarter. CIBC Asset Management Inc grew its position in Enbridge by 4.0% during the 3rd quarter. CIBC Asset Management Inc now owns 24,161,024 shares of the pipeline company's stock worth $984,205,000 after purchasing an additional 936,863 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC grew 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 last quarter. Finally, Toronto Dominion Bank boosted its holdings in shares of Enbridge by 3.6% in the second quarter. Toronto Dominion Bank now owns 18,703,423 shares of the pipeline company's stock valued at $665,655,000 after acquiring an additional 644,526 shares in the last quarter. 54.60% of the stock is 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.

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