Short Interest in Enbridge Inc. (NYSE:ENB) Expands By 79.3%

Enbridge Inc. (NYSE:ENB - Get Free Report) TSE: ENB was the target of a significant growth in short interest in January. As of January 31st, there was short interest totalling 42,280,000 shares, a growth of 79.3% from the January 15th total of 23,580,000 shares. Approximately 2.0% of the company's stock are short sold. Based on an average daily trading volume, of 4,020,000 shares, the days-to-cover ratio is currently 10.5 days.

Enbridge Stock Performance

Shares of NYSE ENB traded down $0.48 during mid-day trading on Wednesday, reaching $42.27. 2,735,995 shares of the company were exchanged, compared to its average volume of 4,180,460. The stock has a market capitalization of $92.11 billion, a P/E ratio of 24.57, a P/E/G ratio of 4.02 and a beta of 0.94. The company has a quick ratio of 0.54, a current ratio of 0.62 and a debt-to-equity ratio of 1.41. The company's 50-day simple moving average is $43.35 and its 200-day simple moving average is $41.83. Enbridge has a twelve month low of $32.85 and a twelve month high of $45.78.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last announced its earnings results 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 10.15%. 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 posted $0.64 EPS. As a group, research analysts predict that Enbridge will post 2.15 earnings per share for the current year.

Enbridge Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Saturday, February 15th will be given a dividend of $0.67 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 6.34%. Enbridge's payout ratio is 155.81%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on ENB. Royal Bank of Canada upped their price target on shares of Enbridge from $63.00 to $67.00 and gave the stock an "outperform" rating in a research report on Tuesday. Morgan Stanley initiated coverage on shares of Enbridge in a research note on Friday, October 25th. They issued an "equal weight" rating for the company. TD Securities began coverage on Enbridge in a report on Wednesday, January 15th. They set a "buy" rating for the company. Finally, Wells Fargo & Company upgraded Enbridge from an "underweight" rating to an "equal weight" rating in a research note on Wednesday, November 6th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $67.00.

Institutional Trading of Enbridge

Large investors have recently modified their holdings of the stock. McIlrath & Eck LLC lifted its position in Enbridge by 74.9% during the third quarter. McIlrath & Eck LLC now owns 689 shares of the pipeline company's stock worth $28,000 after purchasing an additional 295 shares during the period. Albion Financial Group UT bought a new stake in shares of Enbridge during the 4th quarter worth approximately $29,000. Grove Bank & Trust lifted its holdings in shares of Enbridge by 56.7% during the 3rd quarter. Grove Bank & Trust now owns 771 shares of the pipeline company's stock worth $31,000 after acquiring an additional 279 shares during the period. Wintrust Investments LLC increased its stake in Enbridge by 47.8% in the fourth quarter. Wintrust Investments LLC now owns 736 shares of the pipeline company's stock valued at $31,000 after acquiring an additional 238 shares during the last quarter. Finally, MFA Wealth Advisors LLC raised its position in Enbridge by 55.6% during the third quarter. MFA Wealth Advisors LLC now owns 784 shares of the pipeline company's stock valued at $32,000 after purchasing an additional 280 shares in the last quarter. 54.60% of the stock is owned by institutional investors and hedge funds.

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.