Enbridge (NYSE:ENB) Sees Large Volume Increase – Here’s What Happened

Shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) saw strong trading volume on Thursday . 10,789,201 shares changed hands during mid-day trading, an increase of 129% from the previous session’s volume of 4,711,618 shares.The stock last traded at $51.3990 and had previously closed at $51.44.

Analyst Upgrades and Downgrades

Several research firms have commented on ENB. TD Securities reiterated a “hold” rating on shares of Enbridge in a report on Thursday, July 16th. Weiss Ratings reiterated a “buy (b)” rating on shares of Enbridge in a research note on Friday, May 22nd. Raymond James Financial cut shares of Enbridge from an “outperform” rating to a “market perform” rating in a report on Friday, July 31st. Wall Street Zen upgraded Enbridge from a “sell” rating to a “hold” rating in a report on Sunday, July 12th. Finally, Royal Bank Of Canada upped their target price on Enbridge from $79.00 to $84.00 and gave the company an “outperform” rating in a research report on Monday, August 3rd. Four equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $67.00.

Enbridge Price Performance

The firm has a market capitalization of $112.45 billion, a price-to-earnings ratio of 27.54 and a beta of 0.58. The company’s 50 day moving average is $54.88 and its 200 day moving average is $53.91. The company has a quick ratio of 0.66, a current ratio of 0.72 and a debt-to-equity ratio of 1.69.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings data on Friday, July 31st. The pipeline company reported $0.46 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.03. Enbridge had a net margin of 7.20% and a return on equity of 11.17%. The business had revenue of $9.70 billion during the quarter, compared to analysts’ expectations of $8.67 billion. During the same quarter in the previous year, the company earned $0.65 EPS. On average, equities research analysts anticipate that Enbridge Inc will post 2.1 earnings per share for the current fiscal year.

Enbridge Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Friday, August 14th will be paid a $0.97 dividend. This represents a $3.88 annualized dividend and a dividend yield of 7.5%. The ex-dividend date is Friday, August 14th. Enbridge’s payout ratio is 147.06%.

Institutional Trading of Enbridge

Institutional investors have recently modified their holdings of the stock. Triumph Capital Management bought a new stake in Enbridge during the third quarter worth about $26,000. Arlington Trust Co LLC lifted its holdings in shares of Enbridge by 114.6% during the 2nd quarter. Arlington Trust Co LLC now owns 500 shares of the pipeline company’s stock worth $27,000 after acquiring an additional 267 shares during the period. Turning Point Benefit Group Inc. acquired a new stake in shares of Enbridge during the 3rd quarter worth approximately $28,000. Inspire Investing LLC acquired a new stake in shares of Enbridge during the 4th quarter worth approximately $29,000. Finally, Garner Asset Management Corp bought a new position in Enbridge in the fourth quarter valued at approximately $30,000. 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.