Enbridge Inc. (NYSE:ENB) Sees Large Increase in Short Interest

Enbridge Inc. (NYSE:ENB - Get Free Report) TSE: ENB was the recipient of a significant increase in short interest during the month of May. As of May 15th, there was short interest totalling 75,390,000 shares, an increase of 156.7% from the April 30th total of 29,370,000 shares. Currently, 3.5% of the company's stock are short sold. Based on an average daily trading volume, of 4,050,000 shares, the days-to-cover ratio is currently 18.6 days.

Enbridge Stock Performance

ENB stock traded up $0.65 on Friday, hitting $46.50. The company had a trading volume of 4,106,198 shares, compared to its average volume of 4,060,241. Enbridge has a 12-month low of $34.60 and a 12-month high of $47.08. The company has a current ratio of 0.55, a quick ratio of 0.54 and a debt-to-equity ratio of 1.50. The stock's 50-day simple moving average is $44.93 and its 200 day simple moving average is $43.73. The stock has a market cap of $101.37 billion, a price-to-earnings ratio of 27.03, a P/E/G ratio of 3.92 and a beta of 0.84.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last issued its earnings results on Friday, May 9th. The pipeline company reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.04. Enbridge had a net margin of 10.04% and a return on equity of 10.16%. The company had revenue of $7.27 billion for the quarter, compared to analysts' expectations of $10.20 billion. During the same quarter last year, the company posted $0.92 earnings per share. As a group, equities research analysts expect that Enbridge will post 2.14 earnings per share for the current fiscal year.

Enbridge Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Sunday, June 1st. Shareholders of record on Thursday, May 15th will be given a $0.679 dividend. The ex-dividend date of this dividend is Thursday, May 15th. This is an increase from Enbridge's previous quarterly dividend of $0.67. This represents a $2.72 annualized dividend and a yield of 5.84%. Enbridge's dividend payout ratio (DPR) is presently 139.69%.

Analyst Ratings Changes

ENB has been the topic of a number of recent analyst reports. National Bankshares reiterated a "sector perform" rating on shares of Enbridge in a report on Monday, May 12th. Raymond James upgraded shares of Enbridge to a "moderate buy" rating in a report on Wednesday, April 23rd. Wall Street Zen upgraded shares of Enbridge from a "sell" rating to a "hold" rating in a report on Thursday, May 22nd. Citigroup initiated coverage on shares of Enbridge in a report on Friday, April 4th. They set a "buy" rating on the stock. Finally, BMO Capital Markets restated a "market perform" rating on shares of Enbridge in a research report on Monday, May 12th. Six research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, Enbridge presently has an average rating of "Hold" and a consensus price target of $67.00.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Capital Investment Counsel Inc raised its position in Enbridge by 3.1% in the first quarter. Capital Investment Counsel Inc now owns 7,527 shares of the pipeline company's stock worth $333,000 after acquiring an additional 223 shares during the period. Bay Colony Advisory Group Inc d b a Bay Colony Advisors raised its position in Enbridge by 0.7% in the first 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 acquiring an additional 226 shares during the period. Wintrust Investments LLC raised its position in 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 acquiring an additional 238 shares during the period. Loudon Investment Management LLC raised its position in Enbridge by 1.1% in the first quarter. Loudon Investment Management LLC now owns 21,201 shares of the pipeline company's stock worth $939,000 after acquiring an additional 240 shares during the period. Finally, Flagship Harbor Advisors LLC raised its position in Enbridge by 3.6% in the fourth quarter. Flagship Harbor Advisors LLC now owns 6,994 shares of the pipeline company's stock worth $297,000 after acquiring an additional 242 shares during the period. 54.60% of the stock is currently owned by institutional investors.

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.