Enbridge Inc. (NYSE:ENB - Get Free Report) TSE: ENB saw a large decrease in short interest during the month of May. As of May 31st, there was short interest totalling 31,270,000 shares, a decrease of 58.5% from the May 15th total of 75,390,000 shares. Based on an average trading volume of 3,880,000 shares, the short-interest ratio is presently 8.1 days. Currently, 1.4% of the company's stock are sold short.
Analyst Upgrades and Downgrades
A number of research firms recently weighed in on ENB. Royal Bank of Canada restated an "outperform" rating and issued a $67.00 target price on shares of Enbridge in a report on Monday, May 12th. Wall Street Zen upgraded shares of Enbridge from a "sell" rating to a "hold" rating in a report on Thursday, May 22nd. National Bankshares restated a "sector perform" rating on shares of Enbridge in a report on Monday, May 12th. Citigroup began coverage on shares of Enbridge in a report on Friday, April 4th. They issued a "buy" rating on the stock. Finally, BMO Capital Markets restated a "market perform" rating on shares of Enbridge in a report on Monday, May 12th. Six equities 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.com, the stock has an average rating of "Hold" and a consensus price target of $67.00.
View Our Latest Report on Enbridge
Enbridge Stock Down 0.4%
NYSE:ENB traded down $0.18 on Friday, hitting $46.63. The stock had a trading volume of 3,064,061 shares, compared to its average volume of 4,001,654. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.54 and a current ratio of 0.55. The stock has a market cap of $101.66 billion, a P/E ratio of 27.11, a price-to-earnings-growth ratio of 3.92 and a beta of 0.81. Enbridge has a 1 year low of $34.60 and a 1 year high of $47.44. The firm's fifty day simple moving average is $45.45 and its two-hundred day simple moving average is $43.99.
Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last released its earnings results on Friday, May 9th. The pipeline company reported $0.72 earnings per share for the quarter, beating analysts' consensus estimates of $0.68 by $0.04. Enbridge had a net margin of 10.04% and a return on equity of 10.16%. The firm had revenue of $7.27 billion during the quarter, compared to the consensus estimate of $10.20 billion. During the same period in the prior year, the firm earned $0.92 EPS. Analysts predict that Enbridge will post 2.14 earnings per share for the current year.
Enbridge Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Sunday, June 1st. Investors of record on Thursday, May 15th were issued a $0.679 dividend. The ex-dividend date of this dividend was 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 5.82%. Enbridge's dividend payout ratio (DPR) is 139.69%.
Institutional Trading of Enbridge
Several institutional investors and hedge funds have recently bought and sold shares of the company. BROOKFIELD Corp ON lifted its stake in Enbridge by 1,538.4% in the 1st quarter. BROOKFIELD Corp ON now owns 1,350,115 shares of the pipeline company's stock worth $59,824,000 after purchasing an additional 1,267,713 shares in the last quarter. Modern Wealth Management LLC lifted its stake in Enbridge by 17.6% in the 1st quarter. Modern Wealth Management LLC now owns 12,705 shares of the pipeline company's stock worth $563,000 after purchasing an additional 1,899 shares in the last quarter. Jones Financial Companies Lllp lifted its stake in Enbridge by 31.7% in the 1st quarter. Jones Financial Companies Lllp now owns 1,235,046 shares of the pipeline company's stock worth $54,908,000 after purchasing an additional 297,033 shares in the last quarter. Birmingham Capital Management Co. Inc. AL lifted its stake in Enbridge by 5.2% in the 1st quarter. Birmingham Capital Management Co. Inc. AL now owns 10,058 shares of the pipeline company's stock worth $446,000 after purchasing an additional 500 shares in the last quarter. Finally, Intrua Financial LLC lifted its stake in Enbridge by 8.4% in the 1st quarter. Intrua Financial LLC now owns 84,067 shares of the pipeline company's stock worth $3,725,000 after purchasing an additional 6,543 shares in the last quarter. 54.60% of the stock is currently owned by hedge funds and other institutional investors.
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.
Featured Articles
Before you consider Enbridge, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Enbridge wasn't on the list.
While Enbridge currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
If a company's CEO, COO, and CFO were all selling shares of their stock, would you want to know? MarketBeat just compiled its list of the twelve stocks that corporate insiders are abandoning. Complete the form below to see which companies made the list.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
