Enbridge (NYSE:ENB) Stock Price Down 0.4% - Here's Why

Enbridge Inc. (NYSE:ENB - Get Free Report) TSE: ENB's stock price dropped 0.4% during mid-day trading on Wednesday . The stock traded as low as $45.35 and last traded at $45.48. Approximately 773,312 shares were traded during trading, a decline of 82% from the average daily volume of 4,316,366 shares. The stock had previously closed at $45.64.

Analyst Ratings Changes

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

Enbridge Stock Performance

The company's 50-day moving average is $43.42 and its two-hundred day moving average is $43.02. The company has a market capitalization of $101.68 billion, a P/E ratio of 27.12, a PEG ratio of 3.92 and a beta of 0.80. The company has a quick ratio of 0.54, a current ratio of 0.55 and a debt-to-equity ratio of 1.50.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last issued its quarterly earnings results on Friday, February 14th. The pipeline company reported $0.75 EPS for the quarter, topping analysts' consensus estimates 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 firm earned $0.64 EPS. Equities analysts anticipate that Enbridge Inc. will post 2.14 earnings per share for the current fiscal year.

Enbridge Increases Dividend

The company 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. This is a boost from Enbridge's previous quarterly dividend of $0.67. This represents a $2.72 dividend on an annualized basis and a dividend yield of 5.82%. The ex-dividend date of this dividend is Thursday, May 15th. Enbridge's dividend payout ratio is presently 157.56%.

Hedge Funds Weigh In On Enbridge

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