Enbridge (NYSE:ENB) Hits New 12-Month High at $41.45

Shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $41.45 and last traded at $41.45, with a volume of 2632 shares changing hands. The stock had previously closed at $41.14.

Analyst Ratings Changes

Separately, Jefferies Financial Group downgraded Enbridge from a “buy” rating to a “hold” rating in a report on Monday. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $51.50.

Enbridge Stock Up 0.3 %

The stock has a market capitalization of $88.09 billion, a price-to-earnings ratio of 20.88, a PEG ratio of 3.93 and a beta of 0.94. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.77 and a quick ratio of 0.68. The firm’s fifty day moving average is $39.43 and its 200-day moving average is $37.06.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings data on Friday, August 2nd. The pipeline company reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.13. The firm had revenue of $8.29 billion for the quarter, compared to analysts’ expectations of $4.28 billion. Enbridge had a return on equity of 10.07% and a net margin of 13.31%. During the same quarter in the prior year, the firm posted $0.51 earnings per share. On average, sell-side analysts predict that Enbridge Inc. will post 2.08 earnings per share for the current year.

Enbridge Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Thursday, August 15th were issued a dividend of $0.669 per share. The ex-dividend date was Thursday, August 15th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 6.48%. Enbridge’s dividend payout ratio (DPR) is 134.01%.

Institutional Investors Weigh In On Enbridge

Institutional investors have recently modified their holdings of the business. Rockwood Wealth Management LLC grew its holdings in shares of Enbridge by 2.6% during the second quarter. Rockwood Wealth Management LLC now owns 11,107 shares of the pipeline company’s stock valued at $395,000 after purchasing an additional 285 shares during the last quarter. Whittier Trust Co. of Nevada Inc. lifted its position in Enbridge by 3.7% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 8,269 shares of the pipeline company’s stock valued at $294,000 after purchasing an additional 298 shares during the last quarter. Nations Financial Group Inc. IA ADV boosted its stake in Enbridge by 1.7% during the 2nd quarter. Nations Financial Group Inc. IA ADV now owns 18,237 shares of the pipeline company’s stock valued at $649,000 after purchasing an additional 298 shares during the period. Perigon Wealth Management LLC grew its position in Enbridge by 3.7% in the 1st quarter. Perigon Wealth Management LLC now owns 8,827 shares of the pipeline company’s stock worth $319,000 after purchasing an additional 314 shares during the last quarter. Finally, RFG Advisory LLC increased its stake in shares of Enbridge by 2.3% in the second quarter. RFG Advisory LLC now owns 14,183 shares of the pipeline company’s stock valued at $505,000 after purchasing an additional 325 shares during the period. 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.