Enbridge (NYSE:ENB) Sets New 52-Week High – Time to Buy?

Enbridge Inc (NYSE:ENB) (TSE:ENB)’s stock price reached a new 52-week high on Thursday . The company traded as high as $55.52 and last traded at $55.6620, with a volume of 222329 shares trading hands. The stock had previously closed at $55.19.

Analyst Ratings Changes

A number of analysts have recently commented on the stock. Weiss Ratings upgraded shares of Enbridge from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, February 9th. TD Securities lowered shares of Enbridge from a “buy” rating to a “hold” rating in a research note on Tuesday, February 17th. JPMorgan Chase & Co. lowered shares of Enbridge from an “overweight” rating to a “neutral” rating in a research note on Tuesday, January 27th. Wall Street Zen upgraded shares of Enbridge from a “sell” rating to a “hold” rating in a research note on Saturday. Finally, Scotiabank reiterated an “outperform” rating on shares of Enbridge in a research note on Monday. Seven equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $66.50.

Enbridge Price Performance

The firm’s 50-day moving average is $53.88 and its 200-day moving average is $50.40. The company has a debt-to-equity ratio of 1.69, a current ratio of 0.81 and a quick ratio of 0.55. The company has a market capitalization of $120.79 billion, a P/E ratio of 25.97 and a beta of 0.59.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its earnings results on Friday, May 8th. The pipeline company reported $0.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.02. The company had revenue of $9.37 billion during the quarter, compared to analyst estimates of $8.49 billion. Enbridge had a net margin of 9.83% and a return on equity of 11.21%. During the same period in the previous year, the business posted $1.03 earnings per share. Analysts predict that Enbridge Inc will post 2.17 EPS for the current fiscal year.

Enbridge Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Investors of record on Friday, May 15th will be given a dividend of $0.97 per share. This represents a $3.88 annualized dividend and a yield of 7.0%. The ex-dividend date is Friday, May 15th. Enbridge’s payout ratio is 130.52%.

Institutional Trading of Enbridge

Large investors have recently added to or reduced their stakes in the business. Tsfg LLC grew its position in Enbridge by 329.6% during the third quarter. Tsfg LLC now owns 494 shares of the pipeline company’s stock valued at $25,000 after buying an additional 379 shares during the period. Triumph Capital Management purchased a new position in Enbridge during the third quarter valued at approximately $26,000. Turning Point Benefit Group Inc. purchased a new position in Enbridge during the third quarter valued at approximately $28,000. Inspire Investing LLC purchased a new position in Enbridge during the fourth quarter valued at approximately $29,000. Finally, Imprint Wealth LLC purchased a new position in Enbridge during the third quarter valued at approximately $31,000. 54.60% of the stock is currently owned by institutional investors.

Enbridge Company Profile

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.