Enbridge (NYSE:ENB) Trading Down 0.4% – Time to Sell?

Enbridge Inc. (NYSE:ENB) (TSE:ENB) traded down 0.4% during trading on Friday . The company traded as low as $40.80 and last traded at $40.98. 694,700 shares were traded during trading, a decline of 86% from the average session volume of 4,900,982 shares. The stock had previously closed at $41.13.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on ENB shares. Jefferies Financial Group downgraded Enbridge from a “buy” rating to a “hold” rating in a research report on Monday, September 30th. Morgan Stanley assumed coverage on Enbridge in a report on Friday. They issued an “equal weight” rating for the company. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, Enbridge has an average rating of “Hold” and a consensus target price of $55.00.

Enbridge Stock Performance

The stock has a market cap of $87.43 billion, a price-to-earnings ratio of 20.80, a P/E/G ratio of 3.94 and a beta of 0.93. The company has a current ratio of 0.77, a quick ratio of 0.68 and a debt-to-equity ratio of 1.34. The firm has a fifty day simple moving average of $40.50 and a 200-day simple moving average of $37.66.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings results 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 business had revenue of $8.29 billion for the quarter, compared to analyst estimates 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. Analysts forecast that Enbridge Inc. will post 2.08 EPS for the current fiscal year.

Enbridge Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Thursday, August 15th were paid a dividend of $0.669 per share. This represents a $2.68 dividend on an annualized basis and a dividend yield of 6.53%. The ex-dividend date of this dividend was Thursday, August 15th. Enbridge’s dividend payout ratio (DPR) is 134.01%.

Hedge Funds Weigh In On Enbridge

A number of hedge funds and other institutional investors have recently bought and sold shares of ENB. TruNorth Capital Management LLC bought a new position in shares of Enbridge in the 2nd quarter worth $28,000. William B. Walkup & Associates Inc. bought a new position in Enbridge during the second quarter worth about $28,000. Ameritas Investment Partners Inc. acquired a new position in shares of Enbridge during the 1st quarter worth about $29,000. Richardson Financial Services Inc. bought a new stake in shares of Enbridge in the 1st quarter valued at about $31,000. Finally, Grove Bank & Trust raised its position in shares of Enbridge by 56.7% in the 3rd quarter. Grove Bank & Trust now owns 771 shares of the pipeline company’s stock valued at $31,000 after acquiring an additional 279 shares during the period. 54.60% of the stock is owned by institutional investors.

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.