Enbridge (NYSE:ENB) Sets New 1-Year High - What's Next?

Key Points

• Enbridge Inc. shares reached a new 52-week high of $50.50, closing at $50.48 with a trading volume of over 3.68 million shares.
• Analysts have mixed opinions on the stock, with Jefferies upgrading it to a "buy" rating while Zacks lowered it to "hold," reflecting a consensus rating of "Moderate Buy".
• The company declared a quarterly dividend of $0.6839 per share, marking an increase from the previous dividend, and represents a 5.4% yield with a high dividend payout ratio of 134.98%.

Enbridge Inc (NYSE:ENB - Get Free Report) TSE: ENB shares reached a new 52-week high on Wednesday . The stock traded as high as $50.50 and last traded at $50.48, with a volume of 3686009 shares. The stock had previously closed at $49.72.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Jefferies Financial Group upgraded shares of Enbridge from a "hold" rating to a "buy" rating in a report on Wednesday, July 23rd. Wall Street Zen lowered shares of Enbridge from a "hold" rating to a "sell" rating in a research note on Sunday, September 21st. National Bankshares reiterated a "sector perform" rating on shares of Enbridge in a research note on Tuesday, August 5th. Argus upped their target price on shares of Enbridge from $50.00 to $54.00 and gave the stock a "buy" rating in a research note on Tuesday, August 12th. Finally, Zacks Research lowered shares of Enbridge from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, September 17th. Six research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, Enbridge has a consensus rating of "Moderate Buy" and a consensus price target of $60.50.

Enbridge Stock Performance

The company has a market cap of $110.09 billion, a P/E ratio of 24.87, a price-to-earnings-growth ratio of 4.55 and a beta of 0.80. The company's 50-day moving average is $47.79 and its two-hundred day moving average is $45.98. The company has a quick ratio of 0.65, a current ratio of 0.75 and a debt-to-equity ratio of 1.58.

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

Enbridge Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 1st. Investors of record on Friday, August 15th were given a dividend of $0.6839 per share. The ex-dividend date was Friday, August 15th. This is an increase from Enbridge's previous quarterly dividend of $0.68. This represents a $2.74 annualized dividend and a yield of 5.4%. Enbridge's dividend payout ratio (DPR) is currently 134.98%.

Hedge Funds Weigh In On Enbridge

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ENB. Brighton Jones LLC bought a new position in Enbridge during the fourth quarter worth about $261,000. Versant Capital Management Inc boosted its position in Enbridge by 786.8% during the first quarter. Versant Capital Management Inc now owns 3,086 shares of the pipeline company's stock worth $137,000 after purchasing an additional 2,738 shares during the period. GAMMA Investing LLC boosted its position in Enbridge by 4,331.0% during the first quarter. GAMMA Investing LLC now owns 31,593 shares of the pipeline company's stock worth $1,400,000 after purchasing an additional 30,880 shares during the period. Fiduciary Alliance LLC boosted its position in Enbridge by 1.7% during the first quarter. Fiduciary Alliance LLC now owns 20,052 shares of the pipeline company's stock worth $888,000 after purchasing an additional 341 shares during the period. Finally, NBC Securities Inc. boosted its position in Enbridge by 123,872.7% during the first quarter. NBC Securities Inc. now owns 13,637 shares of the pipeline company's stock worth $604,000 after purchasing an additional 13,626 shares during the period. 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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