Enbridge Inc. (ENB) Sees Unusually-High Trading Volume
Enbridge Inc. (NYSE:ENB) shares saw an uptick in trading volume on Thursday . 1,341,493 shares changed 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.
A number of research firms recently issued reports on ENB. Scotiabank reiterated an “outperform” rating and set a $61.00 price objective on shares of Enbridge in a research report on Wednesday, August 3rd. Zacks Investment Research cut shares of Enbridge from a “buy” rating to a “hold” rating in a research report on Wednesday, July 13th. TD Securities reiterated a “buy” rating and set a $59.00 price objective (up from $58.00) on shares of Enbridge in a research report on Wednesday, August 3rd. FirstEnergy Capital cut shares of Enbridge from an “outperform” rating to a “market perform” rating and upped their price objective for the stock from $23.00 to $55.00 in a research report on Friday, May 20th. Finally, National Bank Financial cut shares of Enbridge from an “outperform” rating to a “sector perform” rating in a research report on Monday, July 18th. One analyst has rated the stock with a sell rating, five have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $56.00.
The stock has a market cap of $38.29 billion and a P/E ratio of 36.57. The company’s 50 day moving average price is $40.81 and its 200-day moving average price is $39.78.
Enbridge (NYSE:ENB) last released its quarterly earnings data on Friday, July 29th. The company reported $0.50 EPS for the quarter, missing analysts’ consensus estimates of $0.53 by $0.03. During the same quarter in the prior year, the company posted $0.60 EPS. On average, equities research analysts anticipate that Enbridge Inc. will post $1.78 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 1st. Stockholders of record on Monday, August 15th were given a $0.41 dividend. The ex-dividend date of this dividend was Thursday, August 11th. This represents a $1.64 dividend on an annualized basis and a dividend yield of 4.00%.
An institutional investor recently raised its position in Enbridge stock. Wells Fargo & Company MN increased its stake in shares of Enbridge Inc. (NYSE:ENB) by 17.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund 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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