Enbridge (NYSE:ENB) Shares Down 0.6% - Here's What Happened

Enbridge Inc. (NYSE:ENB - Get Free Report) TSE: ENB's stock price dropped 0.6% during mid-day trading on Wednesday . The company traded as low as $42.65 and last traded at $42.72. Approximately 547,913 shares traded hands during trading, a decline of 89% from the average daily volume of 4,849,617 shares. The stock had previously closed at $42.98.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on ENB shares. Morgan Stanley assumed coverage on shares of Enbridge in a research note on Friday, October 25th. They issued an "equal weight" rating on the stock. Jefferies Financial Group lowered Enbridge from a "buy" rating to a "hold" rating in a report on Monday, September 30th. Finally, Wells Fargo & Company upgraded shares of Enbridge from an "underweight" rating to an "equal weight" rating in a research note on Wednesday, November 6th.

Enbridge Trading Down 0.9 %

The firm has a market capitalization of $92.76 billion, a P/E ratio of 19.78, a P/E/G ratio of 4.10 and a beta of 0.93. The company has a current ratio of 0.62, a quick ratio of 0.54 and a debt-to-equity ratio of 1.41. The company's fifty day moving average is $41.23 and its 200-day moving average is $38.56.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last posted its quarterly earnings data on Friday, November 1st. The pipeline company reported $0.55 EPS for the quarter, topping analysts' consensus estimates of $0.40 by $0.15. Enbridge had a return on equity of 9.94% and a net margin of 13.54%. The business had revenue of $10.91 billion for the quarter, compared to analyst estimates of $4.54 billion. During the same period in the previous year, the company posted $0.46 earnings per share. As a group, sell-side analysts anticipate that Enbridge Inc. will post 2.06 earnings per share for the current fiscal year.

Enbridge Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Friday, November 15th will be given a $0.676 dividend. This represents a $2.70 annualized dividend and a dividend yield of 6.35%. This is a boost from Enbridge's previous quarterly dividend of $0.67. The ex-dividend date of this dividend is Friday, November 15th. Enbridge's dividend payout ratio is currently 121.76%.

Institutional Investors Weigh In On Enbridge

A number of institutional investors have recently added to or reduced their stakes in the company. Swiss National Bank lifted its position 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 acquiring an additional 207,200 shares during the period. Pinnacle Financial Partners Inc raised its stake in shares of Enbridge by 8.8% in the third quarter. Pinnacle Financial Partners Inc now owns 188,244 shares of the pipeline company's stock valued at $7,650,000 after purchasing an additional 15,207 shares in the last quarter. Stonegate Investment Group LLC lifted its position in Enbridge by 66.5% in the third quarter. Stonegate Investment Group LLC now owns 33,833 shares of the pipeline company's stock worth $1,374,000 after purchasing an additional 13,515 shares during the period. CIBC Asset Management Inc boosted its stake in Enbridge by 4.0% during the third quarter. CIBC Asset Management Inc now owns 24,161,024 shares of the pipeline company's stock worth $984,205,000 after buying an additional 936,863 shares in the last quarter. Finally, Lindbrook Capital LLC increased its stake in Enbridge by 816.2% in the third quarter. Lindbrook Capital LLC now owns 21,714 shares of the pipeline company's stock valued at $882,000 after acquiring an additional 19,344 shares during the period. 54.60% of the stock is owned by institutional investors and hedge funds.

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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