Enbridge (NYSE:ENB) Hits New 52-Week High - Should You Buy?

Enbridge Inc. (NYSE:ENB - Get Free Report) TSE: ENB shares hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $42.06 and last traded at $42.06, with a volume of 4768 shares traded. The stock had previously closed at $41.98.

Analyst Ratings Changes

Separately, Jefferies Financial Group cut shares of Enbridge from a "buy" rating to a "hold" rating in a report on Monday, September 30th.

Enbridge Stock Down 1.1 %

The business has a 50-day simple moving average of $40.43 and a 200-day simple moving average of $37.59. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.68 and a current ratio of 0.77. The company has a market cap of $88.63 billion, a price-to-earnings ratio of 21.08, a price-to-earnings-growth ratio of 3.94 and a beta of 0.93.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last released its earnings results on Friday, August 2nd. The pipeline company reported $0.58 earnings per share for the quarter, topping analysts' consensus estimates of $0.45 by $0.13. Enbridge had a net margin of 13.31% and a return on equity of 10.07%. The firm had revenue of $8.29 billion for the quarter, compared to analyst estimates of $4.28 billion. During the same period in the prior year, the firm earned $0.51 earnings per share. On average, equities analysts anticipate that Enbridge Inc. will post 2.08 earnings per share for the current fiscal year.

Enbridge Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Thursday, August 15th were paid a dividend of $0.669 per share. The ex-dividend date was Thursday, August 15th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 6.44%. Enbridge's payout ratio is currently 134.01%.

Institutional Trading of Enbridge

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. First PREMIER Bank increased its holdings in shares of Enbridge by 1.7% in the 3rd quarter. First PREMIER Bank now owns 15,534 shares of the pipeline company's stock valued at $631,000 after acquiring an additional 257 shares during the last quarter. Grove Bank & Trust increased its stake in Enbridge by 56.7% in the third quarter. Grove Bank & Trust now owns 771 shares of the pipeline company's stock valued at $31,000 after purchasing an additional 279 shares during the last quarter. Rockwood Wealth Management LLC raised its holdings in Enbridge by 2.6% during the second quarter. Rockwood Wealth Management LLC now owns 11,107 shares of the pipeline company's stock worth $395,000 after purchasing an additional 285 shares in the last quarter. Whittier Trust Co. of Nevada Inc. lifted its position in shares of Enbridge by 3.7% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 8,269 shares of the pipeline company's stock worth $294,000 after buying an additional 298 shares during the last quarter. Finally, Nations Financial Group Inc. IA ADV boosted its holdings in shares of Enbridge by 1.7% in the 2nd quarter. Nations Financial Group Inc. IA ADV now owns 18,237 shares of the pipeline company's stock valued at $649,000 after buying an additional 298 shares in the last quarter. 54.60% of the stock is currently 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.