Enbridge (NYSE:ENB) Reaches New 1-Year High - Here's What Happened

Enbridge Inc. (NYSE:ENB - Get Free Report) TSE: ENB's stock price hit a new 52-week high during trading on Monday . The stock traded as high as $47.23 and last traded at $47.19, with a volume of 2888816 shares traded. The stock had previously closed at $46.48.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Raymond James raised Enbridge to a "moderate buy" rating in a report on Wednesday, April 23rd. Royal Bank of Canada reaffirmed an "outperform" rating and set a $67.00 price target on shares of Enbridge in a research note on Monday, May 12th. Wall Street Zen raised shares of Enbridge from a "sell" rating to a "hold" rating in a research note on Thursday, May 22nd. Citigroup started coverage on shares of Enbridge in a report on Friday, April 4th. They set a "buy" rating for the company. Finally, CIBC reissued an "outperform" rating on shares of Enbridge in a research note on Wednesday, March 5th. Six equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $67.00.

Enbridge Stock Performance

The stock's 50 day moving average price is $45.08 and its 200 day moving average price is $43.82. 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 $101.85 billion, a price-to-earnings ratio of 27.16, 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 quarterly earnings data on Friday, May 9th. The pipeline company reported $0.72 EPS for the quarter, topping analysts' consensus estimates of $0.68 by $0.04. Enbridge had a return on equity of 10.16% and a net margin of 10.04%. The company had revenue of $7.27 billion for the quarter, compared to analysts' expectations of $10.20 billion. During the same quarter in the previous year, the firm posted $0.92 earnings per share. On average, analysts expect that Enbridge Inc. will post 2.14 EPS for the current fiscal 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 given a dividend of $0.679 per share. This represents a $2.72 dividend on an annualized basis and a dividend yield of 5.81%. The ex-dividend date of this dividend was Thursday, May 15th. This is an increase from Enbridge's previous quarterly dividend of $0.67. Enbridge's dividend payout ratio is currently 139.69%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Dagco Inc. bought a new position in Enbridge during the 1st quarter valued at $25,000. Garde Capital Inc. acquired a new stake in Enbridge in the 1st quarter valued at about $26,000. Financial Gravity Asset Management Inc. bought a new position in shares of Enbridge during the 1st quarter valued at about $28,000. Accent Capital Management LLC acquired a new position in shares of Enbridge in the 1st quarter worth approximately $30,000. Finally, Wintrust Investments LLC raised its holdings in shares of Enbridge by 47.8% in the 4th quarter. Wintrust Investments LLC now owns 736 shares of the pipeline company's stock worth $31,000 after purchasing an additional 238 shares in 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.