Enbridge (NYSE:ENB) Stock Price Up 0.5% – Still a Buy?

Enbridge Inc. (NYSE:ENB) (TSE:ENB) shares were up 0.5% during trading on Wednesday . The stock traded as high as $44.02 and last traded at $43.72. Approximately 679,415 shares were traded during trading, a decline of 86% from the average daily volume of 4,846,427 shares. The stock had previously closed at $43.49.

Analyst Ratings Changes

Several research analysts have commented on ENB shares. Wells Fargo & Company upgraded shares of Enbridge from an “underweight” rating to an “equal weight” rating in a research report on Wednesday, November 6th. Morgan Stanley initiated coverage on shares of Enbridge in a report on Friday, October 25th. They set an “equal weight” rating for the company. Royal Bank of Canada reiterated an “outperform” rating and set a $63.00 price target (up from $59.00) on shares of Enbridge in a report on Wednesday. Finally, Jefferies Financial Group downgraded shares of Enbridge from a “buy” rating to a “hold” rating in a report on Monday, September 30th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $63.00.

Enbridge Trading Up 0.3 %

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 has a market cap of $95.03 billion, a P/E ratio of 20.15, a PEG ratio of 4.26 and a beta of 0.94. The firm’s 50 day moving average is $41.73 and its two-hundred day moving average is $38.98.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its earnings results on Friday, November 1st. The pipeline company reported $0.55 EPS for the quarter, beating the consensus estimate of $0.40 by $0.15. Enbridge had a return on equity of 9.94% and a net margin of 13.54%. The company had revenue of $10.91 billion during the quarter, compared to the consensus estimate of $4.54 billion. During the same period last year, the business posted $0.46 EPS. As a group, equities research analysts anticipate that Enbridge Inc. will post 2.04 EPS for the current year.

Enbridge Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Sunday, December 1st. Investors of record on Friday, November 15th were given a $0.676 dividend. This is a boost from Enbridge’s previous quarterly dividend of $0.67. The ex-dividend date of this dividend was Friday, November 15th. This represents a $2.70 annualized dividend and a yield of 6.20%. Enbridge’s dividend payout ratio (DPR) is presently 121.76%.

Hedge Funds Weigh In On Enbridge

Several hedge funds have recently modified their holdings of ENB. Swiss National Bank increased its stake in shares of Enbridge by 3.2% during the 3rd quarter. Swiss National Bank now owns 6,585,231 shares of the pipeline company’s stock worth $267,935,000 after purchasing an additional 207,200 shares during the last quarter. Pinnacle Financial Partners Inc increased its stake in shares of Enbridge by 8.8% during the 3rd quarter. Pinnacle Financial Partners Inc now owns 188,244 shares of the pipeline company’s stock worth $7,650,000 after purchasing an additional 15,207 shares during the last quarter. Stonegate Investment Group LLC increased its stake in shares of Enbridge by 66.5% during the 3rd quarter. Stonegate Investment Group LLC now owns 33,833 shares of the pipeline company’s stock worth $1,374,000 after purchasing an additional 13,515 shares during the last quarter. CIBC Asset Management Inc increased its stake in shares of Enbridge by 4.0% during the 3rd quarter. CIBC Asset Management Inc now owns 24,161,024 shares of the pipeline company’s stock worth $984,205,000 after purchasing an additional 936,863 shares during the last quarter. Finally, Lindbrook Capital LLC grew its stake in Enbridge by 816.2% in the 3rd quarter. Lindbrook Capital LLC now owns 21,714 shares of the pipeline company’s stock valued at $882,000 after buying an additional 19,344 shares in the last quarter. 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.