Enbridge (NYSE:ENB) Shares Down 0.4% - What's Next?

Enbridge Inc. (NYSE:ENB - Get Free Report) TSE: ENB's stock price traded down 0.4% during mid-day trading on Friday . The stock traded as low as $42.16 and last traded at $42.24. 538,576 shares were traded during mid-day trading, a decline of 89% from the average session volume of 4,873,710 shares. The stock had previously closed at $42.42.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on ENB shares. Jefferies Financial Group downgraded Enbridge from a "buy" rating to a "hold" rating in a report on Monday, September 30th. Wells Fargo & Company raised Enbridge from an "underweight" rating to an "equal weight" rating in a research note on Wednesday. Finally, Morgan Stanley initiated coverage on shares of Enbridge in a research note on Friday, October 25th. They set an "equal weight" rating on the stock.

Enbridge Stock Down 0.0 %

The company has a current ratio of 0.62, a quick ratio of 0.68 and a debt-to-equity ratio of 1.41. The firm's fifty day moving average price is $40.82 and its 200-day moving average price is $38.12. The company has a market cap of $92.36 billion, a price-to-earnings ratio of 19.56, a price-to-earnings-growth ratio of 3.97 and a beta of 0.93.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last announced its quarterly earnings results on Friday, November 1st. The pipeline company reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.15. Enbridge had a return on equity of 9.94% and a net margin of 13.54%. The company 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 company earned $0.46 earnings per share. Sell-side analysts predict that Enbridge Inc. will post 2.06 earnings per share for the current year.

Enbridge Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders of record on Friday, November 15th will be issued a dividend of $0.676 per share. This is an increase from Enbridge's previous quarterly dividend of $0.67. This represents a $2.70 annualized dividend and a yield of 6.38%. The ex-dividend date is Friday, November 15th. Enbridge's dividend payout ratio (DPR) is 122.22%.

Hedge Funds Weigh In On Enbridge

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Sei Investments Co. raised its holdings in shares of Enbridge by 6.1% in the first quarter. Sei Investments Co. now owns 274,235 shares of the pipeline company's stock valued at $9,922,000 after purchasing an additional 15,650 shares during the last quarter. Stonegate Investment Group LLC increased its position in shares of Enbridge by 66.5% in the third quarter. Stonegate Investment Group LLC now owns 33,833 shares of the pipeline company's stock valued at $1,374,000 after acquiring an additional 13,515 shares during the last quarter. State Board of Administration of Florida Retirement System bought a new stake in Enbridge during the first quarter worth about $1,133,000. International Assets Investment Management LLC boosted its position in Enbridge by 734.1% during the third quarter. International Assets Investment Management LLC now owns 891,403 shares of the pipeline company's stock valued at $36,200,000 after purchasing an additional 784,535 shares during the last quarter. Finally, U.S. Capital Wealth Advisors LLC grew its stake in Enbridge by 29.5% in the third quarter. U.S. Capital Wealth Advisors LLC now owns 167,701 shares of the pipeline company's stock valued at $6,810,000 after purchasing an additional 38,231 shares in the last quarter. 54.60% of the stock is owned by institutional investors and hedge funds.

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.

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