Enbridge (NYSE:ENB) Shares Up 0% – Should You Buy?

Enbridge Inc. (NYSE:ENB) (TSE:ENB) rose 0% during mid-day trading on Thursday . The stock traded as high as $41.48 and last traded at $41.24. Approximately 506,734 shares changed hands during trading, a decline of 90% from the average daily volume of 4,910,591 shares. The stock had previously closed at $41.22.

Analyst Upgrades and Downgrades

Separately, Jefferies Financial Group cut Enbridge from a “buy” rating to a “hold” rating in a research report on Monday, September 30th.

Enbridge Stock Performance

The stock has a market cap of $87.43 billion, a P/E ratio of 20.93, a PEG ratio of 3.94 and a beta of 0.93. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.77 and a quick ratio of 0.68. The company has a fifty day moving average of $40.50 and a 200 day moving average of $37.66.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings data on Friday, August 2nd. The pipeline company reported $0.58 EPS for the quarter, topping analysts’ consensus estimates of $0.45 by $0.13. Enbridge had a return on equity of 10.07% and a net margin of 13.31%. The company had revenue of $8.29 billion for the quarter, compared to the consensus estimate of $4.28 billion. During the same quarter in the previous year, the business earned $0.51 EPS. On average, equities analysts predict that Enbridge Inc. will post 2.08 earnings per share for the current fiscal year.

Enbridge Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Thursday, August 15th were paid a $0.669 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $2.68 annualized dividend and a dividend yield of 6.53%. Enbridge’s dividend payout ratio is currently 134.01%.

Institutional Trading of Enbridge

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Pathway Financial Advisers LLC grew its position in Enbridge by 4,120.0% in the third quarter. Pathway Financial Advisers LLC now owns 4,571,669 shares of the pipeline company’s stock worth $185,655,000 after buying an additional 4,463,335 shares during the last quarter. M&G Plc acquired a new stake in shares of Enbridge during the first quarter worth $152,843,000. Cibc World Market Inc. lifted its holdings in shares of Enbridge by 12.8% during the second quarter. Cibc World Market Inc. now owns 32,531,675 shares of the pipeline company’s stock valued at $1,157,802,000 after purchasing an additional 3,693,495 shares during the last quarter. Canada Pension Plan Investment Board lifted its holdings in shares of Enbridge by 66.9% during the first quarter. Canada Pension Plan Investment Board now owns 9,044,864 shares of the pipeline company’s stock valued at $327,172,000 after purchasing an additional 3,624,089 shares during the last quarter. Finally, National Bank of Canada FI boosted its position in shares of Enbridge by 11.3% in 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 purchasing an additional 2,203,123 shares during the period. 54.60% of the stock is owned by institutional investors and hedge funds.

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.