Enbridge (NYSE:ENB) Shares Up 0.7% – Still a Buy?

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

Analyst Upgrades and Downgrades

A number of research firms have recently commented on ENB. Morgan Stanley started coverage on shares of Enbridge in a research note on Friday, October 25th. They set an “equal weight” rating for the company. Jefferies Financial Group downgraded shares of Enbridge from a “buy” rating to a “hold” rating in a report on Monday, September 30th. Finally, Wells Fargo & Company raised shares of Enbridge from an “underweight” rating to an “equal weight” rating in a research note on Wednesday, November 6th.

Enbridge Stock Performance

The stock has a market cap of $94.48 billion, a PE ratio of 20.08, a P/E/G 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 stock has a 50-day simple moving average of $41.62 and a 200-day simple moving average of $38.87.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its earnings results on Friday, November 1st. The pipeline company reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.40 by $0.15. Enbridge had a return on equity of 9.94% and a net margin of 13.54%. The business had revenue of $10.91 billion during the quarter, compared to analysts’ expectations of $4.54 billion. During the same quarter in the previous year, the business earned $0.46 EPS. Equities analysts predict that Enbridge Inc. will post 2.04 earnings per share for the current fiscal 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 given a $0.676 dividend. The ex-dividend date is Friday, November 15th. This is a positive change from Enbridge’s previous quarterly dividend of $0.67. This represents a $2.70 annualized dividend and a yield of 6.23%. Enbridge’s dividend payout ratio (DPR) is 121.76%.

Institutional Trading of Enbridge

Several large investors have recently bought and sold shares of the company. Richardson Financial Services Inc. boosted its position in 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 buying an additional 246 shares during the last quarter. Associated Banc Corp boosted its holdings in Enbridge by 3.6% in the third quarter. Associated Banc Corp now owns 7,091 shares of the pipeline company’s stock valued at $288,000 after purchasing an additional 248 shares during the last quarter. Hobbs Group Advisors LLC grew its stake in Enbridge by 15.1% during the 3rd quarter. Hobbs Group Advisors LLC now owns 1,897 shares of the pipeline company’s stock valued at $77,000 after purchasing an additional 249 shares in the last quarter. Centaurus Financial Inc. grew its stake in Enbridge by 1.7% during the 3rd 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 in the last quarter. Finally, First PREMIER Bank raised its position in shares of Enbridge by 1.7% in the 3rd quarter. First PREMIER Bank now owns 15,534 shares of the pipeline company’s stock valued at $631,000 after purchasing an additional 257 shares in the last quarter. Institutional investors and hedge funds own 54.60% of the company’s stock.

Enbridge Company Profile

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.