Enbridge Inc. (NYSE:ENB - Get Free Report) TSE: ENB's stock price rose 0.8% on Thursday . The stock traded as high as $43.00 and last traded at $42.82. Approximately 1,384,215 shares were traded during mid-day trading, a decline of 72% from the average daily volume of 4,857,002 shares. The stock had previously closed at $42.49.
Analyst Ratings Changes
Several research analysts have recently commented on the company. Wells Fargo & Company raised Enbridge from an "underweight" rating to an "equal weight" rating in a report on Wednesday, November 6th. Jefferies Financial Group lowered shares of Enbridge from a "buy" rating to a "hold" rating in a report on Monday, September 30th. Finally, Morgan Stanley began coverage on shares of Enbridge in a report on Friday, October 25th. They set an "equal weight" rating for the company.
Get Our Latest Research Report on Enbridge
Enbridge Price Performance
The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.54 and a current ratio of 0.62. The business has a 50-day simple moving average of $41.06 and a 200 day simple moving average of $38.35. The firm has a market cap of $94.16 billion, a P/E ratio of 19.82, a price-to-earnings-growth ratio of 4.10 and a beta of 0.93.
Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last announced its earnings results on Friday, November 1st. The pipeline company reported $0.55 EPS for the quarter, beating analysts' consensus estimates of $0.40 by $0.15. The company had revenue of $10.91 billion during the quarter, compared to the consensus estimate of $4.54 billion. Enbridge had a return on equity of 9.94% and a net margin of 13.54%. During the same quarter in the prior year, the company earned $0.46 earnings per share. On average, analysts anticipate that Enbridge Inc. will post 2.06 earnings per share for the current fiscal year.
Enbridge Increases Dividend
The company 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. The ex-dividend date is Friday, November 15th. This represents a $2.70 dividend on an annualized basis and a dividend yield of 6.25%. Enbridge's dividend payout ratio is 122.22%.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Verition Fund Management LLC grew its stake in shares of Enbridge by 13.5% in the third quarter. Verition Fund Management LLC now owns 7,637 shares of the pipeline company's stock worth $310,000 after acquiring an additional 910 shares during the last quarter. Auxier Asset Management purchased a new stake in Enbridge during the 3rd quarter valued at about $204,000. Captrust Financial Advisors increased its stake in Enbridge by 5.9% during the 3rd quarter. Captrust Financial Advisors now owns 351,010 shares of the pipeline company's stock valued at $14,256,000 after purchasing an additional 19,458 shares in the last quarter. Icon Wealth Advisors LLC raised its holdings in Enbridge by 5.0% in the third quarter. Icon Wealth Advisors LLC now owns 13,650 shares of the pipeline company's stock worth $554,000 after buying an additional 650 shares during the last quarter. Finally, Infrastructure Capital Advisors LLC lifted its stake in shares of Enbridge by 34.1% in the third quarter. Infrastructure Capital Advisors LLC now owns 117,119 shares of the pipeline company's stock worth $4,756,000 after buying an additional 29,762 shares in the last quarter. Institutional investors own 54.60% of the company's stock.
About Enbridge
(
Get Free Report)
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.
Further Reading
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Enbridge, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Enbridge wasn't on the list.
While Enbridge currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering where to start (or end) with AI stocks? These 10 simple stocks can help investors build long-term wealth as artificial intelligence continues to grow into the future.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
