Shares of Enbridge Inc. (NYSE:ENB - Get Free Report) TSE: ENB were down 0.3% during trading on Friday . The company traded as low as $46.07 and last traded at $46.21. Approximately 633,239 shares traded hands during mid-day trading, a decline of 85% from the average daily volume of 4,271,767 shares. The stock had previously closed at $46.36.
Wall Street Analyst Weigh In
A number of equities analysts have recently issued reports on ENB shares. TD Securities started coverage on Enbridge in a research note on Wednesday, January 15th. They issued a "buy" rating on the stock. Royal Bank of Canada upped their price target on shares of Enbridge from $63.00 to $67.00 and gave the company an "outperform" rating in a research report on Tuesday, February 18th. Citigroup started coverage on shares of Enbridge in a report on Friday, April 4th. They issued a "buy" rating on the stock. Raymond James upgraded shares of Enbridge to a "moderate buy" rating in a research report on Wednesday. Finally, CIBC reissued an "outperform" rating on shares of Enbridge in a research report on Wednesday, March 5th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $67.00.
Read Our Latest Stock Analysis on Enbridge
Enbridge Price Performance
The firm's fifty day simple moving average is $43.34 and its 200 day simple moving average is $42.98. The firm has a market cap of $100.63 billion, a P/E ratio of 26.84, a P/E/G ratio of 3.92 and a beta of 0.80. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.54 and a current ratio of 0.55.
Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last released its quarterly earnings results on Friday, February 14th. The pipeline company reported $0.75 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.52 by $0.23. Enbridge had a net margin of 10.04% and a return on equity of 10.16%. The company had revenue of $11.59 billion for the quarter, compared to the consensus estimate of $4.78 billion. During the same quarter in the prior year, the firm earned $0.64 earnings per share. As a group, analysts forecast that Enbridge Inc. will post 2.14 earnings per share for the current year.
Enbridge Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Sunday, June 1st. Shareholders of record on Thursday, May 15th will be given a dividend of $0.679 per share. The ex-dividend date is Thursday, May 15th. This is an increase from Enbridge's previous quarterly dividend of $0.67. This represents a $2.72 dividend on an annualized basis and a yield of 5.88%. Enbridge's dividend payout ratio is 157.56%.
Hedge Funds Weigh In On Enbridge
A number of institutional investors and hedge funds have recently modified their holdings of ENB. apricus wealth LLC increased its position in Enbridge by 1.1% during the fourth quarter. apricus wealth LLC now owns 20,615 shares of the pipeline company's stock valued at $875,000 after acquiring an additional 220 shares during the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors raised its position in Enbridge by 0.7% in the 1st quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 34,326 shares of the pipeline company's stock worth $1,526,000 after purchasing an additional 226 shares during the period. Cornerstone Wealth Management LLC lifted its stake in Enbridge by 0.8% in the fourth quarter. Cornerstone Wealth Management LLC now owns 29,503 shares of the pipeline company's stock worth $1,252,000 after purchasing an additional 227 shares during the last quarter. Armstrong Advisory Group Inc. boosted its position in shares of Enbridge by 3.2% during the fourth quarter. Armstrong Advisory Group Inc. now owns 7,508 shares of the pipeline company's stock valued at $319,000 after buying an additional 230 shares during the period. Finally, Wintrust Investments LLC raised its holdings in shares of Enbridge by 47.8% in the fourth quarter. Wintrust Investments LLC now owns 736 shares of the pipeline company's stock worth $31,000 after buying an additional 238 shares during the period. Hedge funds and other 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.
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