Enbridge (NYSE:ENB) Trading Down 1% – Should You Sell?

Enbridge Inc. (NYSE:ENB) (TSE:ENB)’s stock price fell 1% during mid-day trading on Tuesday . The stock traded as low as $42.44 and last traded at $42.51. 764,214 shares traded hands during mid-day trading, a decline of 84% from the average session volume of 4,847,913 shares. The stock had previously closed at $42.95.

Analysts Set New Price Targets

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

Enbridge Price Performance

The stock has a 50 day moving average of $41.43 and a 200-day moving average of $38.73. The stock has a market capitalization of $92.46 billion, a P/E ratio of 19.68, a price-to-earnings-growth ratio of 4.21 and a beta of 0.93. The company has a current ratio of 0.62, a quick ratio of 0.54 and a debt-to-equity ratio of 1.41.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings data on Friday, November 1st. The pipeline company reported $0.55 EPS for the quarter, beating the consensus estimate of $0.40 by $0.15. The firm 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 period last year, the firm posted $0.46 EPS. On average, equities research analysts anticipate that Enbridge Inc. will post 2.06 earnings per share for the current fiscal year.

Enbridge Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Sunday, December 1st. Investors of record on Friday, November 15th will be given a dividend of $0.676 per share. This represents a $2.70 annualized dividend and a dividend yield of 6.37%. The ex-dividend date is Friday, November 15th. This is an increase from Enbridge’s previous quarterly dividend of $0.67. Enbridge’s dividend payout ratio is 121.76%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in ENB. McIlrath & Eck LLC boosted its holdings in Enbridge by 74.9% in the third quarter. McIlrath & Eck LLC now owns 689 shares of the pipeline company’s stock valued at $28,000 after purchasing an additional 295 shares during the period. Grove Bank & Trust grew its holdings in Enbridge by 56.7% during the 3rd quarter. Grove Bank & Trust now owns 771 shares of the pipeline company’s stock worth $31,000 after acquiring an additional 279 shares in the last quarter. MFA Wealth Advisors LLC increased its position in shares of Enbridge by 55.6% in the 3rd quarter. MFA Wealth Advisors LLC now owns 784 shares of the pipeline company’s stock valued at $32,000 after purchasing an additional 280 shares during the last quarter. TruNorth Capital Management LLC purchased a new stake in shares of Enbridge during the 2nd quarter worth $28,000. Finally, William B. Walkup & Associates Inc. purchased a new position in shares of Enbridge in the 2nd quarter valued at about $28,000. 54.60% of the stock is currently owned by hedge funds and other institutional investors.

About Enbridge

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.