Enbridge (NYSE:ENB) Stock Price Down 0.1% – What’s Next?

Enbridge Inc. (NYSE:ENB) (TSE:ENB) shares fell 0.1% during trading on Monday . The stock traded as low as $43.22 and last traded at $43.23. 759,451 shares changed hands during trading, a decline of 84% from the average session volume of 4,836,604 shares. The stock had previously closed at $43.26.

Analyst Upgrades and Downgrades

ENB has been the topic of a number of analyst reports. Jefferies Financial Group lowered Enbridge from a “buy” rating to a “hold” rating in a research report on Monday, September 30th. Wells Fargo & Company upgraded shares of Enbridge from an “underweight” rating to an “equal weight” rating in a report on Wednesday, November 6th. Finally, Morgan Stanley initiated coverage on shares of Enbridge in a research report on Friday, October 25th. They issued an “equal weight” rating on the stock.

Enbridge Price Performance

The stock has a fifty day simple moving average of $41.40 and a 200-day simple moving average of $38.69. The company has a market capitalization of $93.55 billion, a PE ratio of 19.88, a P/E/G ratio of 4.21 and a beta of 0.93. The company has a current ratio of 0.62, a quick ratio of 0.54 and a debt-to-equity ratio of 1.41.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its earnings results on Friday, November 1st. The pipeline company reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.15. The firm had revenue of $10.91 billion during the quarter, compared to analysts’ expectations of $4.54 billion. Enbridge had a return on equity of 9.94% and a net margin of 13.54%. During the same quarter in the previous year, the business earned $0.46 earnings per share. Equities analysts anticipate that Enbridge Inc. will post 2.06 earnings per share for the current year.

Enbridge Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders of record on Friday, November 15th will be paid a $0.676 dividend. This represents a $2.70 annualized dividend and a yield of 6.30%. The ex-dividend date is Friday, November 15th. This is an increase from Enbridge’s previous quarterly dividend of $0.67. Enbridge’s dividend payout ratio is currently 121.76%.

Institutional Trading of Enbridge

Several institutional investors and hedge funds have recently made changes to their positions in the company. Richardson Financial Services Inc. increased its holdings in shares of Enbridge by 28.4% in the 3rd quarter. Richardson Financial Services Inc. now owns 1,112 shares of the pipeline company’s stock valued at $45,000 after acquiring an additional 246 shares during the period. Associated Banc Corp grew its position in Enbridge by 3.6% during the 3rd quarter. Associated Banc Corp now owns 7,091 shares of the pipeline company’s stock worth $288,000 after purchasing an additional 248 shares during the last quarter. Hobbs Group Advisors LLC grew its position in Enbridge by 15.1% during the 3rd quarter. Hobbs Group Advisors LLC now owns 1,897 shares of the pipeline company’s stock worth $77,000 after purchasing an additional 249 shares during the last quarter. Centaurus Financial Inc. increased its stake in Enbridge by 1.7% in the third quarter. Centaurus Financial Inc. now owns 14,980 shares of the pipeline company’s stock valued at $608,000 after purchasing an additional 256 shares during the period. Finally, First PREMIER Bank raised its holdings in shares of Enbridge by 1.7% in the third quarter. First PREMIER Bank now owns 15,534 shares of the pipeline company’s stock valued at $631,000 after buying an additional 257 shares during the last quarter. 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.