Enbridge (NYSE:ENB) Trading 0.7% Higher – Here’s What Happened

Enbridge Inc. (NYSE:ENB) (TSE:ENB)’s share price shot up 0.7% during trading on Friday . The company traded as high as $43.24 and last traded at $43.20. 500,045 shares traded hands during mid-day trading, a decline of 90% from the average session volume of 4,842,973 shares. The stock had previously closed at $42.90.

Analyst Ratings Changes

Several equities 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 began coverage on shares of Enbridge in a research report on Friday, October 25th. They set an “equal weight” rating on the stock. Finally, Jefferies Financial Group downgraded shares of Enbridge from a “buy” rating to a “hold” rating in a research report on Monday, September 30th.

Enbridge Trading Up 1.1 %

The firm has a market cap of $94.48 billion, a PE ratio of 20.08, a PEG ratio of 4.22 and a beta of 0.93. The company has a debt-to-equity ratio of 1.41, a current ratio of 0.62 and a quick ratio of 0.54. The business has a 50-day moving average price of $41.62 and a two-hundred day moving average price of $38.87.

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, beating the consensus estimate of $0.40 by $0.15. The firm had revenue of $10.91 billion during the quarter, compared to the consensus estimate of $4.54 billion. Enbridge had a net margin of 13.54% and a return on equity of 9.94%. During the same period last year, the firm posted $0.46 EPS. Analysts forecast that Enbridge Inc. will post 2.04 EPS for the current year.

Enbridge Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders of record on Friday, November 15th will be given a dividend of $0.676 per share. This is an increase from Enbridge’s previous quarterly dividend of $0.67. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.70 annualized dividend and a yield of 6.23%. Enbridge’s dividend payout ratio (DPR) is presently 121.76%.

Institutional Trading of Enbridge

Several institutional investors and hedge funds have recently made changes to their positions in ENB. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its stake in Enbridge by 1,514.7% in the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 4,799,345 shares of the pipeline company’s stock valued at $194,938,000 after purchasing an additional 4,502,115 shares during the last quarter. Pathway Financial Advisers LLC raised its position in shares of Enbridge by 4,120.0% in the third quarter. Pathway Financial Advisers LLC now owns 4,571,669 shares of the pipeline company’s stock valued at $185,655,000 after buying an additional 4,463,335 shares during the last quarter. Cibc World Market Inc. lifted its stake in shares of Enbridge by 12.8% during the second quarter. Cibc World Market Inc. now owns 32,531,675 shares of the pipeline company’s stock valued at $1,157,802,000 after buying an additional 3,693,495 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its position in Enbridge by 27.8% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 12,278,739 shares of the pipeline company’s stock worth $498,734,000 after acquiring an additional 2,668,692 shares during the last quarter. Finally, National Bank of Canada FI grew its stake in Enbridge by 12.8% in the 3rd quarter. National Bank of Canada FI now owns 18,163,353 shares of the pipeline company’s stock worth $737,754,000 after acquiring an additional 2,061,758 shares during the period. 54.60% of the stock is currently 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.