Enbridge (NYSE:ENB) Sees Strong Trading Volume

Enbridge Inc. (NYSE:ENB) (TSE:ENB) shares saw unusually-strong trading volume on Monday . Approximately 5,223,563 shares traded 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.

Wall Street Analyst Weigh In

A number of brokerages have commented on ENB. StockNews.com initiated coverage on shares of Enbridge in a research report on Thursday, October 5th. They issued a “hold” rating on the stock. BMO Capital Markets started coverage on Enbridge in a research note on Friday, September 8th. They issued a “market perform” rating on the stock. Barclays lowered their price objective on Enbridge from $54.00 to $48.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 18th. Scotiabank began coverage on Enbridge in a research report on Monday, September 11th. They set a “sector perform” rating on the stock. Finally, TD Securities lowered their price target on Enbridge from $62.00 to $58.00 and set a “buy” rating for the company in a report on Tuesday, August 8th. 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 Trading Down 1.6 %

The business has a 50-day moving average of $33.13 and a 200-day moving average of $35.48. The stock has a market capitalization 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 company has a debt-to-equity ratio of 1.12, a quick ratio of 0.57 and a current ratio of 0.67.

Enbridge Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Wednesday, November 15th will be issued a $0.64 dividend. This represents a $2.56 annualized dividend and a dividend yield of 7.69%. The ex-dividend date of this dividend is Tuesday, November 14th. Enbridge’s payout ratio is currently 236.94%.

Hedge Funds Weigh In On Enbridge

A number of institutional investors have recently modified their holdings of the business. White Pine Capital LLC increased its stake in Enbridge by 4.7% in the first quarter. White Pine Capital LLC now owns 5,704 shares of the pipeline company’s stock valued at $218,000 after purchasing an additional 255 shares during the period. Eudaimonia Partners LLC grew its holdings in shares of Enbridge by 2.4% during the second quarter. Eudaimonia Partners LLC now owns 11,900 shares of the pipeline company’s stock worth $442,000 after buying an additional 278 shares during the last quarter. SVB Wealth LLC increased its position in Enbridge by 3.1% in the 1st quarter. SVB Wealth LLC now owns 9,781 shares of the pipeline company’s stock valued at $373,000 after acquiring an additional 297 shares during the period. Loudon Investment Management LLC increased its holdings in shares of Enbridge by 2.9% in the first quarter. Loudon Investment Management LLC now owns 10,746 shares of the pipeline company’s stock valued at $410,000 after purchasing an additional 300 shares during the period. Finally, InTrack Investment Management Inc raised its stake in shares of Enbridge by 4.7% during the 2nd quarter. InTrack Investment Management Inc now owns 6,734 shares of the pipeline company’s stock worth $250,000 after buying an additional 300 shares in the last quarter. 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.