Enbridge (NYSE:ENB) Hits New 1-Year High at $41.45

Shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) reached a new 52-week high during trading on Wednesday . The company traded as high as $41.45 and last traded at $41.45, with a volume of 2632 shares traded. The stock had previously closed at $41.14.

Analyst Ratings Changes

Separately, Jefferies Financial Group cut shares of Enbridge from a “buy” rating to a “hold” rating in a report on Monday. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $51.50.

Enbridge Stock Up 0.3 %

The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.68 and a current ratio of 0.77. The stock’s fifty day simple moving average is $39.43 and its two-hundred day simple moving average is $37.06. The company has a market capitalization of $88.09 billion, a price-to-earnings ratio of 20.88, a P/E/G ratio of 3.93 and a beta of 0.94.

Enbridge (NYSE:ENB) (TSE:ENB) last released its earnings results on Friday, August 2nd. The pipeline company reported $0.58 EPS for the quarter, beating the consensus estimate of $0.45 by $0.13. The business had revenue of $8.29 billion during the quarter, compared to analyst estimates of $4.28 billion. Enbridge had a net margin of 13.31% and a return on equity of 10.07%. During the same period in the prior year, the business earned $0.51 earnings per share. On average, sell-side analysts anticipate that Enbridge Inc. will post 2.08 EPS for the current year.

Enbridge Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Thursday, August 15th were given a dividend of $0.669 per share. This represents a $2.68 dividend on an annualized basis and a dividend yield of 6.48%. The ex-dividend date of this dividend was Thursday, August 15th. Enbridge’s dividend payout ratio (DPR) is presently 134.01%.

Institutional Trading of Enbridge

Institutional investors and hedge funds have recently bought and sold shares of the stock. M&G Plc purchased a new stake in shares of Enbridge in the first quarter valued at $152,843,000. Cibc World Market Inc. boosted its position in Enbridge by 12.8% during the 2nd quarter. Cibc World Market Inc. now owns 32,531,675 shares of the pipeline company’s stock worth $1,157,802,000 after acquiring an additional 3,693,495 shares during the period. Canada Pension Plan Investment Board boosted its position in Enbridge by 66.9% during the 1st quarter. Canada Pension Plan Investment Board now owns 9,044,864 shares of the pipeline company’s stock worth $327,172,000 after acquiring an additional 3,624,089 shares during the period. National Bank of Canada FI grew its stake in Enbridge by 11.3% during the 1st quarter. National Bank of Canada FI now owns 21,664,748 shares of the pipeline company’s stock valued at $818,370,000 after acquiring an additional 2,203,123 shares in the last quarter. Finally, Morningstar Investment Services LLC increased its holdings in shares of Enbridge by 129.6% in the 4th quarter. Morningstar Investment Services LLC now owns 3,631,712 shares of the pipeline company’s stock valued at $131,032,000 after purchasing an additional 2,049,712 shares during the period. Institutional investors and hedge funds 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.