Enbridge (NYSE:ENB) Shares Down 0.3% - Here's What Happened

Enbridge Inc. (NYSE:ENB - Get Free Report) TSE: ENB's stock price traded down 0.3% on Friday . The stock traded as low as $46.07 and last traded at $46.21. 633,239 shares were traded during trading, a decline of 85% from the average session volume of 4,271,767 shares. The stock had previously closed at $46.36.

Wall Street Analyst Weigh In

ENB has been the subject of several recent research reports. TD Securities started coverage on Enbridge in a report on Wednesday, January 15th. They issued a "buy" rating for the company. Raymond James raised Enbridge to a "moderate buy" rating in a research report on Wednesday, April 23rd. Citigroup initiated coverage on shares of Enbridge in a research report on Friday, April 4th. They issued a "buy" rating for the company. Royal Bank of Canada boosted 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. Finally, CIBC reaffirmed an "outperform" rating on shares of Enbridge in a research note on Wednesday, March 5th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $67.00.

Enbridge Price Performance

The stock's fifty day simple moving average is $43.42 and its two-hundred day simple moving average is $43.02. 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 company has a market capitalization of $101.68 billion, a price-to-earnings ratio of 27.12, a PEG ratio of 3.92 and a beta of 0.80.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last released its quarterly earnings data on Friday, February 14th. The pipeline company reported $0.75 earnings per share for the quarter, topping 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 firm had revenue of $11.59 billion for the quarter, compared to analyst estimates of $4.78 billion. During the same quarter in the prior year, the business earned $0.64 earnings per share. On average, sell-side 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 will be paid on Sunday, June 1st. Investors of record on Thursday, May 15th will be given a dividend of $0.679 per share. The ex-dividend date is Thursday, May 15th. This represents a $2.72 dividend on an annualized basis and a yield of 5.82%. This is a positive change from Enbridge's previous quarterly dividend of $0.67. Enbridge's payout ratio is currently 157.56%.

Institutional Investors Weigh In On Enbridge

A number of hedge funds have recently added to or reduced their stakes in the stock. apricus wealth LLC increased its holdings in shares of Enbridge by 1.1% in the 4th quarter. apricus wealth LLC now owns 20,615 shares of the pipeline company's stock worth $875,000 after acquiring an additional 220 shares during the period. Capital Investment Counsel Inc increased its stake in shares of Enbridge by 3.1% in the first quarter. Capital Investment Counsel Inc now owns 7,527 shares of the pipeline company's stock valued at $333,000 after purchasing an additional 223 shares during the period. Bay Colony Advisory Group Inc d b a Bay Colony Advisors increased its stake in shares of Enbridge by 0.7% in the first quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 34,326 shares of the pipeline company's stock valued at $1,526,000 after purchasing an additional 226 shares during the period. Cornerstone Wealth Management LLC raised its holdings in shares of Enbridge by 0.8% during the fourth quarter. Cornerstone Wealth Management LLC now owns 29,503 shares of the pipeline company's stock valued at $1,252,000 after buying an additional 227 shares during the last quarter. Finally, Armstrong Advisory Group Inc. boosted its position in shares of Enbridge by 3.2% during the fourth quarter. Armstrong Advisory Group Inc. now owns 7,508 shares of the pipeline company's stock worth $319,000 after buying an additional 230 shares during the period. 54.60% of the stock is currently owned by institutional investors.

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.