Enbridge (NYSE:ENB) Trading Up 0.6% - Should You Buy?

Enbridge Inc. (NYSE:ENB - Get Free Report) TSE: ENB shares were up 0.6% during trading on Friday . The company traded as high as $46.94 and last traded at $46.75. Approximately 637,786 shares traded hands during mid-day trading, a decline of 84% from the average daily volume of 4,040,024 shares. The stock had previously closed at $46.48.

Analysts Set New Price Targets

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

Enbridge Stock Performance

The business has a 50-day moving average of $43.82 and a two-hundred day moving average of $43.14. 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 cap 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.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last issued its quarterly earnings data on Friday, February 14th. The pipeline company reported $0.75 earnings per share (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 the consensus estimate of $4.78 billion. During the same quarter in the previous year, the firm earned $0.64 EPS. On average, sell-side analysts predict that Enbridge Inc. will post 2.14 EPS for the current fiscal year.

Enbridge Increases Dividend

The firm 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 dividend of $0.679 per share. This represents a $2.72 annualized dividend and a dividend yield of 5.80%. The ex-dividend date is Thursday, May 15th. This is a positive change from Enbridge's previous quarterly dividend of $0.67. Enbridge's dividend payout ratio is currently 157.56%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in ENB. Garde Capital Inc. acquired a new position in shares of Enbridge during the first quarter valued at about $26,000. Financial Gravity Asset Management Inc. acquired a new position in Enbridge during the 1st quarter valued at approximately $28,000. Albion Financial Group UT purchased a new position in shares of Enbridge in the fourth quarter worth $29,000. Wintrust Investments LLC lifted its stake in shares of Enbridge by 47.8% during the fourth quarter. Wintrust Investments LLC now owns 736 shares of the pipeline company's stock worth $31,000 after buying an additional 238 shares during the period. Finally, GeoWealth Management LLC grew its holdings in shares of Enbridge by 436.4% during the fourth quarter. GeoWealth Management LLC now owns 751 shares of the pipeline company's stock valued at $32,000 after buying an additional 611 shares during the last quarter. 54.60% of the stock is 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.