Enbridge (NYSE:ENB) Reaches New 52-Week High - Here's What Happened

Key Points

• Enbridge Inc. reached a new **52-week high** of **$49.16** during trading, closing at **$49.07** with a total volume of **2,051,716 shares** traded.
• Research analysts have generally rated Enbridge positively, with one "Strong Buy", six "Buy", and four "Hold" ratings, and an average price target of **$60.50**.
• Enbridge recently increased its quarterly **dividend** to **$0.6839** per share, representing a **5.6% yield**, up from the previous dividend of **$0.68**.

Enbridge Inc (NYSE:ENB - Get Free Report) TSE: ENB reached a new 52-week high during trading on Tuesday . The stock traded as high as $49.16 and last traded at $49.07, with a volume of 2051716 shares trading hands. The stock had previously closed at $49.10.

Wall Street Analyst Weigh In

Several research analysts have recently commented on ENB shares. National Bankshares reissued a "sector perform" rating on shares of Enbridge in a research note on Tuesday, August 5th. Argus raised their price objective on shares of Enbridge from $50.00 to $54.00 and gave the company a "buy" rating in a research note on Tuesday, August 12th. Zacks Research raised shares of Enbridge from a "hold" rating to a "strong-buy" rating in a research note on Friday, August 15th. Jefferies Financial Group raised shares of Enbridge from a "hold" rating to a "buy" rating in a research note on Wednesday, July 23rd. Finally, Wall Street Zen raised shares of Enbridge from a "sell" rating to a "hold" rating in a research note on Saturday. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $60.50.

Enbridge Trading Down 0.1%

The company has a 50 day simple moving average of $46.74 and a 200 day simple moving average of $45.45. The company has a current ratio of 0.75, a quick ratio of 0.65 and a debt-to-equity ratio of 1.58. The stock has a market capitalization of $107.01 billion, a PE ratio of 24.17, a P/E/G ratio of 4.49 and a beta of 0.80.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last posted its quarterly earnings data on Friday, August 1st. The pipeline company reported $0.47 EPS for the quarter, beating the consensus estimate of $0.41 by $0.06. The firm had revenue of $7.14 billion during the quarter, compared to the consensus estimate of $10.56 billion. Enbridge had a return on equity of 10.77% and a net margin of 10.11%.During the same period in the prior year, the business earned $0.58 EPS. Analysts predict that Enbridge Inc will post 2.14 earnings per share for the current fiscal year.

Enbridge Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 1st. Shareholders of record on Friday, August 15th were paid a dividend of $0.6839 per share. The ex-dividend date of this dividend was Friday, August 15th. This represents a $2.74 annualized dividend and a yield of 5.6%. This is a boost from Enbridge's previous quarterly dividend of $0.68. Enbridge's dividend payout ratio (DPR) is currently 134.98%.

Institutional Investors Weigh In On Enbridge

Institutional investors have recently added to or reduced their stakes in the business. Dagco Inc. purchased a new stake in Enbridge in the 1st quarter valued at approximately $25,000. Whipplewood Advisors LLC increased its holdings in Enbridge by 112.4% in the second quarter. Whipplewood Advisors LLC now owns 582 shares of the pipeline company's stock valued at $26,000 after buying an additional 308 shares in the last quarter. Garde Capital Inc. purchased a new position in Enbridge in the first quarter valued at about $26,000. Financial Gravity Asset Management Inc. purchased a new position in Enbridge in the first quarter valued at about $28,000. Finally, Financial Gravity Companies Inc. purchased a new position in Enbridge in the second quarter valued at about $29,000. Hedge funds and other 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.

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