Enbridge (NYSE:ENB) Stock Price Up 0.3% - Time to Buy?

Enbridge Inc. (NYSE:ENB - Get Free Report) TSE: ENB shares shot up 0.3% on Tuesday . The stock traded as high as $46.80 and last traded at $46.76. 790,252 shares changed hands during mid-day trading, a decline of 81% from the average session volume of 4,239,088 shares. The stock had previously closed at $46.64.

Analysts Set New Price Targets

A number of analysts recently weighed in on ENB shares. Citigroup began coverage on shares of Enbridge in a research report on Friday, April 4th. They issued a "buy" rating on the stock. CIBC restated an "outperform" rating on shares of Enbridge in a report on Wednesday, March 5th. TD Securities started coverage on shares of Enbridge in a research note on Wednesday, January 15th. They set a "buy" rating for the company. Royal Bank of Canada increased their price target on Enbridge from $63.00 to $67.00 and gave the company an "outperform" rating in a research note on Tuesday, February 18th. Finally, Raymond James upgraded Enbridge to a "moderate buy" rating in a research note on Wednesday, April 23rd. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat, Enbridge currently has an average rating of "Moderate Buy" and a consensus price target of $67.00.

Enbridge Stock Performance

The firm has a market capitalization of $101.64 billion, a PE ratio of 27.12, a price-to-earnings-growth ratio of 3.92 and a beta of 0.80. The firm's 50 day moving average price is $43.42 and its 200-day moving average price is $43.02. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.54 and a current ratio of 0.55.

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

Enbridge Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Sunday, June 1st. Stockholders of record on Thursday, May 15th will be issued a dividend of $0.679 per share. This represents a $2.72 annualized dividend and a dividend yield of 5.83%. The ex-dividend date is Thursday, May 15th. This is a positive change from Enbridge's previous quarterly dividend of $0.67. Enbridge's payout ratio is currently 157.56%.

Hedge Funds Weigh In On Enbridge

Several large investors have recently modified their holdings of the business. Morse Asset Management Inc purchased a new position in shares of Enbridge in the 3rd quarter valued at about $106,000. Barclays PLC grew its holdings in shares of Enbridge by 8.3% during 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 boosted its holdings in shares of Enbridge by 74.9% in the third quarter. McIlrath & Eck LLC now owns 689 shares of the pipeline company's stock valued at $28,000 after acquiring an additional 295 shares in the last quarter. Passumpsic Savings Bank lifted its holdings in shares of Enbridge by 2.4% in the 3rd quarter. Passumpsic Savings Bank now owns 11,575 shares of the pipeline company's stock valued at $470,000 after buying an additional 276 shares during the period. Finally, Anchor Investment Management LLC boosted its position in shares of Enbridge by 0.5% during the 3rd quarter. Anchor Investment Management LLC now owns 123,012 shares of the pipeline company's stock worth $4,996,000 after purchasing an additional 581 shares in the last quarter. Institutional investors and hedge funds own 54.60% of the company's stock.

About Enbridge

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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