Enbridge Inc (NYSE:ENB – Get Free Report) (TSE:ENB) saw unusually-high 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.
Wall Street Analysts Forecast Growth
Several analysts recently issued reports on the stock. Wall Street Zen raised shares of Enbridge from a “sell” rating to a “hold” rating in a research note on Sunday, July 12th. BMO Capital Markets restated a “market perform” rating on shares of Enbridge in a report on Monday, August 3rd. Canadian Imperial Bank of Commerce reaffirmed a “neutral” rating on shares of Enbridge in a research note on Monday, May 11th. Royal Bank Of Canada boosted their price target on shares of Enbridge from $79.00 to $84.00 and gave the company an “outperform” rating in a research note on Monday, August 3rd. Finally, TD Securities reiterated a “hold” rating on shares of Enbridge in a report on Thursday, July 16th. Four research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $67.00.
Read Our Latest Stock Analysis on Enbridge
Enbridge Trading Down 0.8%
Enbridge (NYSE:ENB – Get Free Report) (TSE:ENB) last issued its quarterly earnings results on Friday, July 31st. The pipeline company reported $0.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.03. Enbridge had a net margin of 7.20% and a return on equity of 11.17%. The company had revenue of $9.70 billion during the quarter, compared to the consensus estimate of $8.67 billion. During the same quarter in the previous year, the firm earned $0.65 earnings per share. On average, research analysts predict that Enbridge Inc will post 2.11 EPS for the current fiscal year.
Enbridge Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Friday, August 14th will be given a dividend of $0.97 per share. This represents a $3.88 annualized dividend and a dividend yield of 7.6%. The ex-dividend date of this dividend is Friday, August 14th. Enbridge’s payout ratio is 152.41%.
Hedge Funds Weigh In On Enbridge
Several large investors have recently bought and sold shares of ENB. Triumph Capital Management acquired a new position in shares of Enbridge during the 3rd quarter worth about $26,000. Arlington Trust Co LLC raised its position 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 in the last quarter. Turning Point Benefit Group Inc. acquired a new stake in shares of Enbridge during the 3rd quarter worth about $28,000. Inspire Investing LLC purchased a new stake in Enbridge during the fourth quarter worth approximately $29,000. Finally, Garner Asset Management Corp purchased a new stake in Enbridge during the fourth quarter worth approximately $30,000. Hedge funds and other institutional investors own 54.60% of the company’s stock.
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.
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