Enbridge (NYSE:ENB) Stock Price Down 0.1% – Should You Sell?

Enbridge Inc. (NYSE:ENB) (TSE:ENB)’s stock price traded down 0.1% during trading on Monday . The company traded as low as $43.22 and last traded at $43.23. 759,451 shares changed hands during trading, a decline of 84% from the average session volume of 4,836,604 shares. The stock had previously closed at $43.26.

Wall Street Analysts Forecast Growth

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

Enbridge Stock Performance

The firm’s 50-day simple moving average is $41.47 and its two-hundred day simple moving average is $38.76. The company has a current ratio of 0.62, a quick ratio of 0.54 and a debt-to-equity ratio of 1.41. The stock has a market capitalization of $93.44 billion, a PE ratio of 19.80, a PEG ratio of 4.18 and a beta of 0.93.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings results on Friday, November 1st. The pipeline company reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.15. The firm had revenue of $10.91 billion for the quarter, compared to analyst estimates of $4.54 billion. Enbridge had a return on equity of 9.94% and a net margin of 13.54%. During the same period in the previous year, the firm earned $0.46 earnings per share. On average, equities research analysts expect that Enbridge Inc. will post 2.06 earnings per share for the current fiscal year.

Enbridge Increases Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend is Friday, November 15th. This is an increase from Enbridge’s previous quarterly dividend of $0.67. This represents a $2.70 dividend on an annualized basis and a yield of 6.30%. Enbridge’s payout ratio is presently 121.76%.

Hedge Funds Weigh In On Enbridge

Several institutional investors and hedge funds have recently modified their holdings of the stock. McIlrath & Eck LLC grew its stake 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 in the last quarter. Grove Bank & Trust lifted its stake in Enbridge by 56.7% in the third quarter. Grove Bank & Trust now owns 771 shares of the pipeline company’s stock valued at $31,000 after acquiring an additional 279 shares during the last quarter. MFA Wealth Advisors LLC grew its position in Enbridge by 55.6% in the third quarter. MFA Wealth Advisors LLC now owns 784 shares of the pipeline company’s stock worth $32,000 after acquiring an additional 280 shares in the last quarter. TruNorth Capital Management LLC acquired a new position in shares of Enbridge during the 2nd quarter worth $28,000. Finally, William B. Walkup & Associates Inc. bought a new position in shares of Enbridge during the 2nd quarter valued at $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.