Enbridge (NYSE:ENB) Stock Price Down 1.4% – Should You Sell?

Enbridge Inc. (NYSE:ENB) (TSE:ENB) was down 1.4% on Monday . The company traded as low as $42.68 and last traded at $42.79. Approximately 632,844 shares were traded during mid-day trading, a decline of 87% from the average daily volume of 4,833,667 shares. The stock had previously closed at $43.38.

Analysts Set New Price Targets

ENB has been the topic of several research reports. Morgan Stanley assumed coverage on Enbridge in a research note on Friday, October 25th. They set an “equal weight” rating on the stock. Jefferies Financial Group cut shares of Enbridge from a “buy” rating to a “hold” rating in a report on Monday, September 30th. Finally, Wells Fargo & Company upgraded shares of Enbridge from an “underweight” rating to an “equal weight” rating in a report on Wednesday, November 6th.

Enbridge Stock Performance

The stock has a 50-day moving average price of $41.62 and a 200 day moving average price of $38.89. The company has a quick ratio of 0.54, a current ratio of 0.62 and a debt-to-equity ratio of 1.41. The firm has a market capitalization of $94.20 billion, a price-to-earnings ratio of 19.81, a P/E/G ratio of 4.26 and a beta of 0.93.

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 analysts’ consensus estimates of $0.40 by $0.15. The company had revenue of $10.91 billion for the quarter, compared to the consensus estimate of $4.54 billion. Enbridge had a net margin of 13.54% and a return on equity of 9.94%. During the same period in the prior year, the firm posted $0.46 EPS. On average, analysts forecast that Enbridge Inc. will post 2.04 EPS for the current year.

Enbridge Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, December 1st. Stockholders of record on Friday, November 15th were given a dividend of $0.676 per share. This is a boost from Enbridge’s previous quarterly dividend of $0.67. This represents a $2.70 annualized dividend and a dividend yield of 6.25%. The ex-dividend date was Friday, November 15th. Enbridge’s dividend payout ratio is currently 121.76%.

Institutional Investors Weigh In On Enbridge

Institutional investors have recently added to or reduced their stakes in the business. TruNorth Capital Management LLC purchased a new stake in shares of Enbridge during the 2nd quarter worth approximately $28,000. William B. Walkup & Associates Inc. acquired a new stake in Enbridge during the 2nd quarter worth $28,000. McIlrath & Eck LLC lifted its position 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 acquiring an additional 295 shares during the last quarter. Grove Bank & Trust lifted its position 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. Finally, MFA Wealth Advisors LLC grew its holdings in shares of Enbridge by 55.6% during the third quarter. MFA Wealth Advisors LLC now owns 784 shares of the pipeline company’s stock worth $32,000 after purchasing an additional 280 shares during the last quarter. Hedge funds and other institutional investors own 54.60% of the company’s stock.

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.