Shares of Enbridge Inc. (NYSE:ENB) saw strong trading volume on Thursday . 1,341,493 shares traded hands during trading, an increase of 70% from the previous session’s volume of 791,114 shares.The stock last traded at $39.57 and had previously closed at $39.49.

Several equities analysts recently commented on the stock. Scotiabank reaffirmed an “outperform” rating and set a $61.00 target price on shares of Enbridge in a report on Wednesday, August 3rd. National Bank Financial lowered shares of Enbridge from an “outperform” rating to a “sector perform” rating in a report on Monday, July 18th. Zacks Investment Research raised shares of Enbridge from a “hold” rating to a “strong-buy” rating and set a $46.00 target price on the stock in a report on Wednesday, August 3rd. Goldman Sachs Group Inc. lowered shares of Enbridge from a “buy” rating to a “neutral” rating and reduced their target price for the company from $44.00 to $42.00 in a report on Wednesday, July 20th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and set a $64.00 target price on shares of Enbridge in a report on Wednesday, June 29th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Buy” and an average price target of $56.00.

The firm’s 50 day moving average price is $40.83 and its 200 day moving average price is $39.77. The company has a market cap of $36.97 billion and a PE ratio of 34.89.

Enbridge (NYSE:ENB) last released its earnings results on Friday, July 29th. The company reported $0.50 EPS for the quarter, missing the consensus estimate of $0.53 by $0.03. During the same period in the previous year, the firm earned $0.60 EPS. On average, equities research analysts forecast that Enbridge Inc. will post $1.78 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Thursday, September 1st. Stockholders of record on Monday, August 15th were issued a $0.41 dividend. This represents a $1.64 annualized dividend and a dividend yield of 4.14%. The ex-dividend date was Thursday, August 11th.

A hedge fund recently raised its stake in Enbridge stock. Wells Fargo & Company MN raised its position in shares of Enbridge Inc. (NYSE:ENB) by 17.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 327,851 shares of the company’s stock after buying an additional 48,469 shares during the period. Wells Fargo & Company MN’s holdings in Enbridge were worth $10,881,000 as of its most recent SEC filing.

Enbridge Inc (Enbridge) is an energy transportation and distribution company. The Company operates through five segments: Liquids Pipelines; Gas Distribution; Gas Pipelines, Processing and Energy Services; Sponsored Investments, and Corporate. The Company operates the crude oil and liquids transportation system in Canada and the United States.

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