Enbridge (NYSE:ENB) Stock Price Up 0.6% – Time to Buy?

Enbridge Inc. (NYSE:ENB) (TSE:ENB) shares traded up 0.6% on Monday . The company traded as high as $42.60 and last traded at $42.43. 1,142,009 shares were traded during trading, a decline of 77% from the average session volume of 4,862,508 shares. The stock had previously closed at $42.18.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on ENB shares. Morgan Stanley started coverage on Enbridge in a report on Friday, October 25th. They issued an “equal weight” rating for the company. Jefferies Financial Group cut Enbridge from a “buy” rating to a “hold” rating in a report on Monday, September 30th. Finally, Wells Fargo & Company upgraded Enbridge from an “underweight” rating to an “equal weight” rating in a research report on Wednesday, November 6th.

Enbridge Price Performance

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 firm has a market cap of $92.81 billion, a PE ratio of 19.64, a P/E/G ratio of 4.10 and a beta of 0.93. The business’s fifty day moving average is $41.15 and its 200-day moving average is $38.47.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings results on Friday, November 1st. The pipeline company reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.40 by $0.15. The firm had revenue of $10.91 billion for 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 prior year, the firm earned $0.46 EPS. On average, research analysts predict that Enbridge Inc. will post 2.06 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. Investors of record on Friday, November 15th will be given a $0.676 dividend. This represents a $2.70 annualized dividend and a dividend yield of 6.34%. This is a boost from Enbridge’s previous quarterly dividend of $0.67. The ex-dividend date is Friday, November 15th. Enbridge’s dividend payout ratio is 122.22%.

Hedge Funds Weigh In On Enbridge

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Grove Bank & Trust raised its position in Enbridge by 56.7% during the third quarter. Grove Bank & Trust now owns 771 shares of the pipeline company’s stock valued at $31,000 after purchasing an additional 279 shares in the last quarter. MFA Wealth Advisors LLC raised its stake in shares of Enbridge by 55.6% during the third quarter. MFA Wealth Advisors LLC now owns 784 shares of the pipeline company’s stock worth $32,000 after acquiring an additional 280 shares in the last quarter. TruNorth Capital Management LLC bought a new stake in shares of Enbridge in the 2nd quarter worth approximately $28,000. William B. Walkup & Associates Inc. purchased a new stake in shares of Enbridge in the 2nd quarter valued at $28,000. Finally, Ameritas Investment Partners Inc. bought a new position in shares of Enbridge during the 1st quarter valued at $29,000. Hedge funds and other institutional investors 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.