Enbridge (NYSE:ENB) Shares Up 0.8% - Should You Buy?

Enbridge Inc. (NYSE:ENB - Get Free Report) TSE: ENB's stock price was up 0.8% on Thursday . The stock traded as high as $46.08 and last traded at $45.99. Approximately 505,804 shares changed hands during trading, a decline of 88% from the average daily volume of 4,092,137 shares. The stock had previously closed at $45.61.

Wall Street Analysts Forecast Growth

Several research firms have commented on ENB. Citigroup initiated coverage on Enbridge in a research report on Friday, April 4th. They issued a "buy" rating on the stock. Royal Bank of Canada increased their price objective on shares of Enbridge from $63.00 to $67.00 and gave the company an "outperform" rating in a research report on Tuesday, February 18th. Raymond James raised shares of Enbridge to a "moderate buy" rating in a research report on Wednesday, April 23rd. TD Securities started coverage on shares of Enbridge in a research note on Wednesday, January 15th. They set a "buy" rating on the stock. Finally, CIBC restated an "outperform" rating on shares of Enbridge in a research note on Wednesday, March 5th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $67.00.

Enbridge Trading Up 1.0 %

The firm has a market cap of $101.66 billion, a P/E ratio of 27.11, a P/E/G ratio of 3.92 and a beta of 0.80. 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 business's 50-day moving average is $43.34 and its two-hundred day moving average is $42.98.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last released its quarterly earnings results on Friday, February 14th. The pipeline company reported $0.75 earnings per share for the quarter, beating analysts' consensus estimates of $0.52 by $0.23. The company had revenue of $11.59 billion for the quarter, compared to analysts' expectations of $4.78 billion. Enbridge had a return on equity of 10.16% and a net margin of 10.04%. During the same quarter in the previous year, the company posted $0.64 earnings per share. As a group, analysts expect 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 will be paid on Sunday, June 1st. Stockholders of record on Thursday, May 15th will be issued a $0.679 dividend. The ex-dividend date of this dividend is Thursday, May 15th. This is a boost from Enbridge's previous quarterly dividend of $0.67. This represents a $2.72 annualized dividend and a dividend yield of 5.82%. Enbridge's dividend payout ratio (DPR) is 157.56%.

Institutional Investors Weigh In On Enbridge

A number of institutional investors have recently added to or reduced their stakes in ENB. Vanguard Group Inc. lifted its holdings in shares of Enbridge by 4.1% in the fourth quarter. Vanguard Group Inc. now owns 91,617,146 shares of the pipeline company's stock valued at $3,888,507,000 after buying an additional 3,611,421 shares during the period. GQG Partners LLC lifted its holdings in Enbridge by 2.1% in the 4th quarter. GQG Partners LLC now owns 74,290,740 shares of the pipeline company's stock valued at $3,151,500,000 after acquiring an additional 1,495,742 shares during the last quarter. TD Asset Management Inc. boosted its position in shares of Enbridge by 2.8% during the 4th quarter. TD Asset Management Inc. now owns 38,752,759 shares of the pipeline company's stock valued at $1,643,935,000 after purchasing an additional 1,040,799 shares in the last quarter. Deutsche Bank AG grew its stake in shares of Enbridge by 13.9% in the 4th quarter. Deutsche Bank AG now owns 36,336,212 shares of the pipeline company's stock worth $1,541,745,000 after purchasing an additional 4,426,684 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of Enbridge in the 4th quarter worth approximately $909,415,000. 54.60% of the stock is currently owned by institutional investors and hedge funds.

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.