Enbridge Inc (NYSE:ENB) Short Interest Up 73.8% in May

Enbridge Inc (NYSE:ENB) (TSE:ENB) was the target of a large growth in short interest in the month of May. As of May 15th, there was short interest totaling 47,958,151 shares, a growth of 73.8% from the April 30th total of 27,590,674 shares. Approximately 2.2% of the company’s shares are sold short. Based on an average daily trading volume, of 4,961,062 shares, the short-interest ratio is presently 9.7 days.

Enbridge Trading Up 2.6%

NYSE ENB traded up $1.41 during trading on Tuesday, hitting $56.34. The company had a trading volume of 2,764,752 shares, compared to its average volume of 4,932,452. The company has a current ratio of 0.81, a quick ratio of 0.73 and a debt-to-equity ratio of 1.69. Enbridge has a one year low of $43.59 and a one year high of $58.45. The company has a market cap of $123.04 billion, a price-to-earnings ratio of 26.45 and a beta of 0.58. The company’s fifty day moving average is $54.47 and its 200-day moving average is $51.16.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings data on Friday, May 8th. The pipeline company reported $0.71 EPS for the quarter, topping the consensus estimate of $0.69 by $0.02. Enbridge had a net margin of 9.83% and a return on equity of 11.21%. The business had revenue of $9.37 billion during the quarter, compared to analyst estimates of $8.49 billion. During the same period in the prior year, the business earned $1.03 EPS. On average, sell-side analysts predict that Enbridge will post 2.18 earnings per share for the current year.

Enbridge Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Friday, May 15th were paid a $0.97 dividend. This represents a $3.88 annualized dividend and a dividend yield of 6.9%. The ex-dividend date was Friday, May 15th. Enbridge’s dividend payout ratio (DPR) is presently 133.80%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Retirement Planning Group LLC increased its stake in shares of Enbridge by 3.6% in the 1st quarter. Retirement Planning Group LLC now owns 5,357 shares of the pipeline company’s stock worth $290,000 after acquiring an additional 187 shares in the last quarter. PFG Investments LLC increased its stake in shares of Enbridge by 0.9% in the 1st quarter. PFG Investments LLC now owns 22,208 shares of the pipeline company’s stock worth $1,202,000 after acquiring an additional 202 shares in the last quarter. MIdWestOne Financial Group Inc. increased its stake in shares of Enbridge by 4.3% in the 4th quarter. MIdWestOne Financial Group Inc. now owns 4,906 shares of the pipeline company’s stock worth $235,000 after acquiring an additional 203 shares in the last quarter. Sumitomo Life Insurance Co. increased its stake in shares of Enbridge by 1.1% in the 4th quarter. Sumitomo Life Insurance Co. now owns 18,621 shares of the pipeline company’s stock worth $891,000 after acquiring an additional 205 shares in the last quarter. Finally, Arete Wealth Advisors LLC increased its stake in shares of Enbridge by 4.4% in the 4th quarter. Arete Wealth Advisors LLC now owns 4,914 shares of the pipeline company’s stock worth $235,000 after acquiring an additional 208 shares in the last quarter. 54.60% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

ENB has been the subject of several analyst reports. BMO Capital Markets reissued a “market perform” rating on shares of Enbridge in a research report on Tuesday, February 17th. Royal Bank Of Canada upped their price objective on shares of Enbridge from $76.00 to $79.00 and gave the stock an “outperform” rating in a report on Monday, May 11th. Scotiabank restated an “outperform” rating on shares of Enbridge in a report on Monday, May 11th. Wall Street Zen lowered shares of Enbridge from a “hold” rating to a “sell” rating in a report on Sunday, May 24th. Finally, Canadian Imperial Bank of Commerce restated a “neutral” rating on shares of Enbridge in a report on Monday, May 11th. Seven investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $66.50.

About Enbridge

Enbridge Inc is a Calgary, Alberta–based energy infrastructure company that develops, owns and operates a diversified portfolio of energy transportation, distribution and generation assets. Its core activities include the operation of crude oil and liquids pipelines, natural gas transmission and distribution systems, and energy storage facilities. In addition to midstream transportation and storage, Enbridge has expanded into renewable power generation and energy transition projects, including wind, solar and utility-scale generation assets.

The company serves customers primarily in Canada and the United States and has interests in other international energy projects.