Enbridge (NYSE:ENB) Stock Price Up 0.8% Following Dividend Announcement

Enbridge Inc. (NYSE:ENB - Get Free Report) TSE: ENB's share price rose 0.8% on Thursday following a dividend announcement from the company. The company traded as high as $44.07 and last traded at $43.98. Approximately 556,770 shares were traded during trading, a decline of 89% from the average daily volume of 4,850,427 shares. The stock had previously closed at $43.64.

The newly announced dividend which will be paid on Saturday, March 1st. Investors of record on Saturday, February 15th will be paid a dividend of $0.67 per share. The ex-dividend date is Friday, February 14th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 6.10%. Enbridge's payout ratio is 121.76%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on ENB shares. Morgan Stanley began coverage on shares of Enbridge in a research report on Friday, October 25th. They set an "equal weight" rating for the company. Wells Fargo & Company upgraded Enbridge from an "underweight" rating to an "equal weight" rating in a research note on Wednesday, November 6th. Jefferies Financial Group downgraded Enbridge from a "buy" rating to a "hold" rating in a research report on Monday, September 30th. Finally, Royal Bank of Canada restated an "outperform" rating and issued a $63.00 price objective (up from $59.00) on shares of Enbridge in a research report on Wednesday. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $63.00.

Enbridge Trading Up 0.6 %

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 of $41.84 and a 200 day moving average of $39.05. The firm has a market cap of $95.64 billion, a P/E ratio of 20.33, a PEG ratio of 4.27 and a beta of 0.94.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last announced its quarterly earnings data on Friday, November 1st. The pipeline company reported $0.55 earnings per share for the quarter, beating 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 company had revenue of $10.91 billion for the quarter, compared to analysts' expectations of $4.54 billion. During the same period last year, the firm posted $0.46 EPS. As a group, equities research analysts predict that Enbridge Inc. will post 2.04 EPS for the current year.

Hedge Funds Weigh In On Enbridge

Several institutional investors and hedge funds have recently made changes to their positions in ENB. TruNorth Capital Management LLC purchased a new position in Enbridge in the 2nd quarter worth approximately $28,000. William B. Walkup & Associates Inc. purchased a new position in shares of Enbridge in the second quarter worth $28,000. McIlrath & Eck LLC raised its holdings in Enbridge by 74.9% during the 3rd quarter. McIlrath & Eck LLC now owns 689 shares of the pipeline company's stock valued at $28,000 after buying an additional 295 shares during the last quarter. Grove Bank & Trust boosted its position in Enbridge by 56.7% during the 3rd quarter. Grove Bank & Trust now owns 771 shares of the pipeline company's stock valued at $31,000 after buying an additional 279 shares during the period. Finally, MFA Wealth Advisors LLC grew its holdings in Enbridge by 55.6% in the 3rd quarter. MFA Wealth Advisors LLC now owns 784 shares of the pipeline company's stock worth $32,000 after acquiring an additional 280 shares during the last quarter. Institutional investors own 54.60% of the company's stock.

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.