Enbridge (NYSE:ENB) Shares Down 0.2% - Here's Why

Enbridge Inc. (NYSE:ENB - Get Free Report) TSE: ENB was down 0.2% during mid-day trading on Monday . The stock traded as low as $45.21 and last traded at $45.28. Approximately 612,336 shares traded hands during mid-day trading, a decline of 85% from the average daily volume of 4,095,833 shares. The stock had previously closed at $45.37.

Analysts Set New Price Targets

A number of research analysts recently issued reports on ENB shares. Citigroup initiated coverage on Enbridge in a research report on Friday, April 4th. They set a "buy" rating for the company. CIBC reaffirmed an "outperform" rating on shares of Enbridge in a report on Wednesday, March 5th. TD Securities began coverage on shares of Enbridge in a research note on Wednesday, January 15th. They set a "buy" rating for the company. Finally, Royal Bank of Canada upped their target price on shares of Enbridge from $63.00 to $67.00 and gave the stock an "outperform" rating in a research report on Tuesday, February 18th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat.com, Enbridge has an average rating of "Moderate Buy" and a consensus price target of $67.00.

Enbridge Stock Down 0.4 %

The firm has a market cap of $100.59 billion, a price-to-earnings ratio of 26.84, a P/E/G ratio of 3.92 and a beta of 0.80. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.55 and a quick ratio of 0.54. The firm's fifty day moving average is $43.34 and its two-hundred day moving average is $42.95.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last posted its quarterly earnings data on Friday, February 14th. The pipeline company reported $0.75 EPS for the quarter, beating analysts' consensus estimates of $0.52 by $0.23. The business had revenue of $11.59 billion for the quarter, compared to analyst estimates of $4.78 billion. Enbridge had a net margin of 10.04% and a return on equity of 10.16%. During the same quarter last year, the business earned $0.64 earnings per share. On average, sell-side analysts expect that Enbridge Inc. will post 2.14 EPS for the current fiscal year.

Enbridge Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Sunday, June 1st. Investors of record on Thursday, May 15th will be paid a dividend of $0.679 per share. The ex-dividend date is Thursday, May 15th. This represents a $2.72 annualized dividend and a yield of 5.88%. This is a boost from Enbridge's previous quarterly dividend of $0.67. Enbridge's dividend payout ratio (DPR) is currently 155.81%.

Institutional Investors Weigh In On Enbridge

Several hedge funds and other institutional investors have recently bought and sold shares of ENB. Morse Asset Management Inc acquired a new position in shares of Enbridge in the 3rd quarter worth approximately $106,000. Barclays PLC grew its position in Enbridge by 8.3% in the third quarter. Barclays PLC now owns 584,020 shares of the pipeline company's stock worth $23,717,000 after buying an additional 44,675 shares during the last quarter. McIlrath & Eck LLC lifted its position in shares of Enbridge by 74.9% during the 3rd quarter. McIlrath & Eck LLC now owns 689 shares of the pipeline company's stock valued at $28,000 after acquiring an additional 295 shares during the last quarter. Passumpsic Savings Bank boosted its stake in shares of Enbridge by 2.4% during the 3rd quarter. Passumpsic Savings Bank now owns 11,575 shares of the pipeline company's stock worth $470,000 after acquiring an additional 276 shares in the last quarter. Finally, Anchor Investment Management LLC grew its holdings in shares of Enbridge by 0.5% in the 3rd quarter. Anchor Investment Management LLC now owns 123,012 shares of the pipeline company's stock worth $4,996,000 after acquiring an additional 581 shares during the last quarter. 54.60% of the stock is currently owned by institutional investors.

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.