Enbridge (NYSE:ENB) Trading 0.7% Higher – Still a Buy?

Enbridge Inc. (NYSE:ENB) (TSE:ENB) rose 0.7% during trading on Friday . The stock traded as high as $43.24 and last traded at $43.20. Approximately 500,045 shares were traded during trading, a decline of 90% from the average daily volume of 4,842,973 shares. The stock had previously closed at $42.90.

Wall Street Analysts Forecast Growth

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

Enbridge Stock 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 company has a market capitalization of $94.66 billion, a price-to-earnings ratio of 20.00, a price-to-earnings-growth ratio of 4.22 and a beta of 0.93. The firm has a fifty day simple moving average of $41.57 and a 200 day simple moving average of $38.82.

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, topping the consensus estimate of $0.40 by $0.15. The company had revenue of $10.91 billion during the quarter, compared to analyst estimates of $4.54 billion. Enbridge had a net margin of 13.54% and a return on equity of 9.94%. During the same quarter in the previous year, the firm earned $0.46 EPS. On average, analysts anticipate that Enbridge Inc. will post 2.04 earnings per share for the current fiscal year.

Enbridge Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders of record on Friday, November 15th will be paid a dividend of $0.676 per share. 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 6.22%. The ex-dividend date of this dividend is Friday, November 15th. Enbridge’s payout ratio is 121.76%.

Hedge Funds Weigh In On Enbridge

Hedge funds and other institutional investors have recently made changes to their positions in the company. TruNorth Capital Management LLC purchased a new position in Enbridge in the 2nd quarter valued at $28,000. William B. Walkup & Associates Inc. purchased a new position in shares of Enbridge in the second quarter worth about $28,000. McIlrath & Eck LLC lifted its stake in shares of Enbridge by 74.9% in the third quarter. McIlrath & Eck LLC now owns 689 shares of the pipeline company’s stock worth $28,000 after buying an additional 295 shares in the last quarter. Grove Bank & Trust boosted its position in Enbridge by 56.7% during the third quarter. Grove Bank & Trust now owns 771 shares of the pipeline company’s stock worth $31,000 after acquiring an additional 279 shares during the last quarter. Finally, MFA Wealth Advisors LLC grew its stake in Enbridge by 55.6% during the 3rd quarter. MFA Wealth Advisors LLC now owns 784 shares of the pipeline company’s stock valued at $32,000 after acquiring an additional 280 shares in the last quarter. 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.