Enbridge Inc. (NYSE:ENB) Short Interest Update

Enbridge Inc. (NYSE:ENB - Get Free Report) TSE: ENB was the recipient of a significant decline in short interest during the month of May. As of May 31st, there was short interest totalling 31,270,000 shares, a decline of 58.5% from the May 15th total of 75,390,000 shares. Currently, 1.4% of the shares of the company are short sold. Based on an average daily volume of 3,880,000 shares, the short-interest ratio is currently 8.1 days.

Enbridge Price Performance

NYSE ENB traded up $0.00 during trading on Tuesday, hitting $45.96. 2,181,932 shares of the company's stock were exchanged, compared to its average volume of 3,993,080. The stock's 50 day moving average price is $45.55 and its two-hundred day moving average price is $44.01. Enbridge has a fifty-two week low of $34.60 and a fifty-two week high of $47.44. 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 company has a market cap of $100.21 billion, a PE ratio of 26.72, a P/E/G ratio of 3.92 and a beta of 0.81.

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

Enbridge Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Sunday, June 1st. Shareholders of record on Thursday, May 15th were issued a dividend of $0.679 per share. This is a positive change from Enbridge's previous quarterly dividend of $0.67. The ex-dividend date was Thursday, May 15th. This represents a $2.72 annualized dividend and a yield of 5.91%. Enbridge's dividend payout ratio (DPR) is presently 139.69%.

Hedge Funds Weigh In On Enbridge

Hedge funds have recently bought and sold shares of the company. Dagco Inc. bought a new stake in Enbridge in the first quarter worth approximately $25,000. Garde Capital Inc. acquired a new stake in shares of Enbridge during the 1st quarter worth approximately $26,000. Financial Gravity Asset Management Inc. bought a new stake in shares of Enbridge in the 1st quarter valued at $28,000. Accent Capital Management LLC acquired a new position in shares of Enbridge during the 1st quarter valued at $30,000. Finally, Wintrust Investments LLC boosted its stake in Enbridge by 47.8% during 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 in the last quarter. Institutional investors own 54.60% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Royal Bank of Canada restated an "outperform" rating and set a $67.00 target price on shares of Enbridge in a research note on Monday, May 12th. BMO Capital Markets restated a "market perform" rating on shares of Enbridge in a research report on Monday, May 12th. Wall Street Zen upgraded Enbridge from a "sell" rating to a "hold" rating in a report on Thursday, May 22nd. CIBC reiterated an "outperform" rating on shares of Enbridge in a research note on Wednesday, March 5th. Finally, Citigroup began coverage on Enbridge in a research note on Friday, April 4th. They issued a "buy" rating for the company. Six equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, Enbridge has an average rating of "Hold" and a consensus price target of $67.00.

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.