Enbridge Inc. (NYSE:ENB - Get Free Report) TSE: ENB's share price shot up 0.5% during mid-day trading on Thursday . The stock traded as high as $47.08 and last traded at $46.92. 746,756 shares were traded during mid-day trading, a decline of 82% from the average session volume of 4,191,588 shares. The stock had previously closed at $46.69.
Analyst Upgrades and Downgrades
A number of equities research analysts have weighed in on ENB shares. Citigroup started coverage on shares of Enbridge in a report on Friday, April 4th. They set a "buy" rating on the stock. CIBC reissued an "outperform" rating on shares of Enbridge in a research note on Wednesday, March 5th. Raymond James raised Enbridge to a "moderate buy" rating in a research note on Wednesday, April 23rd. TD Securities assumed coverage on shares of Enbridge in a research report on Wednesday, January 15th. They set a "buy" rating for the company. Finally, Royal Bank of Canada increased their price objective 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. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, Enbridge presently has a consensus rating of "Moderate Buy" and an average price target of $67.00.
Get Our Latest Analysis on Enbridge
Enbridge Stock Performance
The stock has a market capitalization of $102.16 billion, a P/E ratio of 27.24, 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 company's fifty day simple moving average is $43.71 and its 200 day simple moving average is $43.10.
Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last announced its quarterly earnings data on Friday, February 14th. The pipeline company reported $0.75 EPS for the quarter, beating the consensus estimate of $0.52 by $0.23. The firm had revenue of $11.59 billion for the quarter, compared to analyst estimates of $4.78 billion. Enbridge had a return on equity of 10.16% and a net margin of 10.04%. During the same period in the prior year, the company earned $0.64 EPS. As a group, sell-side analysts forecast 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 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 is Thursday, May 15th. Enbridge's dividend payout ratio is 157.56%.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Garde Capital Inc. bought a new position in Enbridge in the first quarter worth about $26,000. McIlrath & Eck LLC lifted its holdings in shares of Enbridge by 74.9% during the third quarter. McIlrath & Eck LLC now owns 689 shares of the pipeline company's stock valued at $28,000 after purchasing an additional 295 shares in the last quarter. Financial Gravity Asset Management Inc. purchased a new position in shares of Enbridge during the first quarter valued at approximately $28,000. Albion Financial Group UT bought a new stake in shares of Enbridge in the fourth quarter worth $29,000. Finally, Wintrust Investments LLC lifted its stake in shares of Enbridge by 47.8% in the 4th quarter. Wintrust Investments LLC now owns 736 shares of the pipeline company's stock worth $31,000 after purchasing an additional 238 shares during the period. Institutional investors own 54.60% of the company's stock.
About Enbridge
(
Get Free Report)
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.
Further Reading
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