Enbridge (NYSE:ENB) Trading 0.3% Higher After Dividend Announcement

Enbridge Inc. (NYSE:ENB - Get Free Report) TSE: ENB rose 0.3% on Monday following a dividend announcement from the company. The stock traded as high as $46.42 and last traded at $46.35. Approximately 570,911 shares changed hands during mid-day trading, a decline of 87% from the average daily volume of 4,244,980 shares. The stock had previously closed at $46.19.

The newly announced dividend which will be paid on Sunday, June 1st. Stockholders of record on Thursday, May 15th will be paid a dividend of $0.679 per share. This represents a $2.72 annualized dividend and a dividend yield of 5.80%. This is an increase from Enbridge's previous quarterly dividend of $0.67. The ex-dividend date of this dividend is Thursday, May 15th. Enbridge's dividend payout ratio is 157.56%.

Analyst Ratings Changes

ENB has been the topic of several research reports. TD Securities initiated coverage on Enbridge in a research report on Wednesday, January 15th. They set a "buy" rating on the stock. CIBC reaffirmed an "outperform" rating on shares of Enbridge in a research report on Wednesday, March 5th. Royal Bank of Canada lifted their price target 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 upgraded shares of Enbridge to a "moderate buy" rating in a report on Wednesday, April 23rd. Finally, Citigroup began coverage on Enbridge in a research report on Friday, April 4th. They issued a "buy" rating on the stock. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, Enbridge has an average rating of "Moderate Buy" and a consensus price target of $67.00.

Enbridge Stock Performance

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 firm has a market capitalization of $102.16 billion, a P/E ratio of 27.24, a price-to-earnings-growth ratio of 3.92 and a beta of 0.80. The business's 50 day simple moving average is $43.71 and its two-hundred day simple moving average is $43.10.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last posted its quarterly earnings results 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 firm had revenue of $11.59 billion for the quarter, compared to analysts' expectations of $4.78 billion. Enbridge had a net margin of 10.04% and a return on equity of 10.16%. During the same quarter in the prior year, the company posted $0.64 earnings per share. Sell-side analysts anticipate that Enbridge Inc. will post 2.14 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Metis Global Partners LLC increased its holdings in Enbridge by 4.0% in the 4th quarter. Metis Global Partners LLC now owns 206,921 shares of the pipeline company's stock worth $8,782,000 after buying an additional 7,986 shares in the last quarter. Aviso Financial Inc. grew its stake in shares of Enbridge by 4.3% in the fourth quarter. Aviso Financial Inc. now owns 1,417,584 shares of the pipeline company's stock worth $60,152,000 after acquiring an additional 58,176 shares during the period. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Enbridge by 70.7% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 1,296,374 shares of the pipeline company's stock valued at $52,648,000 after purchasing an additional 536,818 shares during the last quarter. Vanguard Group Inc. lifted its position in Enbridge by 4.1% during 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 purchasing an additional 3,611,421 shares during the period. Finally, Sound Income Strategies LLC lifted its position in Enbridge by 8.6% during the fourth quarter. Sound Income Strategies LLC now owns 631,820 shares of the pipeline company's stock valued at $26,808,000 after purchasing an additional 49,800 shares during the period. Hedge funds and other institutional investors 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.