Enbridge (NYSE:ENB) Sees Large Volume Increase

Enbridge Inc. (NYSE:ENB) (TSE:ENB) shares saw unusually-strong trading volume on Monday . Approximately 5,223,563 shares changed hands during trading, an increase of 20% from the previous session’s volume of 4,351,031 shares.The stock last traded at $33.69 and had previously closed at $33.40.

Analysts Set New Price Targets

Several brokerages recently weighed in on ENB. BMO Capital Markets began coverage on shares of Enbridge in a report on Friday, September 8th. They issued a “market perform” rating on the stock. Scotiabank began coverage on shares of Enbridge in a research note on Monday, September 11th. They set a “sector perform” rating for the company. Wells Fargo & Company cut Enbridge from an “equal weight” rating to an “underweight” rating in a research note on Wednesday, October 25th. National Bank Financial began coverage on Enbridge in a research report on Monday, September 11th. They set a “sector perform” rating for the company. Finally, Royal Bank of Canada cut their target price on Enbridge from $60.00 to $55.00 and set an “outperform” rating on the stock in a research report on Monday, November 6th. Two analysts have rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $55.33.

Enbridge Price Performance

The company has a debt-to-equity ratio of 1.12, a current ratio of 0.67 and a quick ratio of 0.57. The firm has a market cap of $70.72 billion, a price-to-earnings ratio of 29.97, a PEG ratio of 2.79 and a beta of 0.86. The stock has a 50-day moving average price of $33.13 and a 200 day moving average price of $35.48.

Enbridge Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Wednesday, November 15th will be given a dividend of $0.64 per share. This represents a $2.56 annualized dividend and a yield of 7.69%. The ex-dividend date is Tuesday, November 14th. Enbridge’s dividend payout ratio (DPR) is 236.94%.

Institutional Investors Weigh In On Enbridge

Several large investors have recently modified their holdings of ENB. American Century Companies Inc. raised its position in Enbridge by 6.9% in the 1st quarter. American Century Companies Inc. now owns 49,136 shares of the pipeline company’s stock valued at $2,262,000 after purchasing an additional 3,178 shares during the last quarter. BlackRock Inc. raised its holdings in shares of Enbridge by 47.5% in the first quarter. BlackRock Inc. now owns 1,585,598 shares of the pipeline company’s stock valued at $73,081,000 after buying an additional 510,865 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Enbridge by 7.3% during the first quarter. Dimensional Fund Advisors LP now owns 1,647,982 shares of the pipeline company’s stock worth $75,955,000 after buying an additional 112,553 shares during the period. Blair William & Co. IL grew its holdings in shares of Enbridge by 3.4% during the first quarter. Blair William & Co. IL now owns 149,644 shares of the pipeline company’s stock worth $6,897,000 after buying an additional 4,883 shares during the last quarter. Finally, Sei Investments Co. increased its position in Enbridge by 0.3% in the 1st quarter. Sei Investments Co. now owns 316,801 shares of the pipeline company’s stock valued at $14,600,000 after acquiring an additional 968 shares during the period. 48.29% of the stock is owned by institutional investors and hedge funds.

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.