Enbridge (NYSE:ENB) Sees Large Volume Increase – Time to Buy?

Enbridge Inc (NYSE:ENBGet Free Report) (TSE:ENB) saw unusually-high trading volume on Friday . Approximately 16,234,928 shares traded hands during trading, an increase of 181% from the previous session’s volume of 5,783,636 shares.The stock last traded at $53.9650 and had previously closed at $51.84.

Enbridge News Roundup

Here are the key news stories impacting Enbridge this week:

Analyst Upgrades and Downgrades

A number of analysts have weighed in on ENB shares. BMO Capital Markets restated a “market perform” rating on shares of Enbridge in a research note on Monday, November 10th. Zacks Research raised Enbridge from a “strong sell” rating to a “hold” rating in a research report on Monday, December 29th. Scotiabank raised Enbridge from a “sector perform” rating to a “sector outperform” rating in a report on Friday, January 16th. JPMorgan Chase & Co. lowered shares of Enbridge from an “overweight” rating to a “neutral” rating in a research note on Tuesday, January 27th. Finally, Weiss Ratings raised shares of Enbridge from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday. Six research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $63.00.

View Our Latest Analysis on ENB

Enbridge Price Performance

The company has a quick ratio of 0.68, a current ratio of 0.80 and a debt-to-equity ratio of 1.64. The firm has a market capitalization of $117.54 billion, a price-to-earnings ratio of 29.62 and a beta of 0.69. The company has a fifty day moving average price of $47.84 and a two-hundred day moving average price of $47.89.

Enbridge Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Sunday, March 1st. Stockholders of record on Tuesday, February 17th will be issued a $0.97 dividend. The ex-dividend date of this dividend is Tuesday, February 17th. This is a positive change from Enbridge’s previous quarterly dividend of $0.94. This represents a $3.88 dividend on an annualized basis and a dividend yield of 7.2%. Enbridge’s dividend payout ratio is currently 147.80%.

Hedge Funds Weigh In On Enbridge

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Tsfg LLC increased its holdings in Enbridge by 329.6% during the 3rd quarter. Tsfg LLC now owns 494 shares of the pipeline company’s stock valued at $25,000 after acquiring an additional 379 shares in the last quarter. Triumph Capital Management acquired a new stake in shares of Enbridge in the third quarter valued at approximately $26,000. Highline Wealth Partners LLC grew its position in shares of Enbridge by 73.1% in the third quarter. Highline Wealth Partners LLC now owns 559 shares of the pipeline company’s stock valued at $28,000 after purchasing an additional 236 shares during the last quarter. Turning Point Benefit Group Inc. purchased a new position in shares of Enbridge during the 3rd quarter worth approximately $28,000. Finally, Whipplewood Advisors LLC raised its position in shares of Enbridge by 112.4% during the 2nd quarter. Whipplewood Advisors LLC now owns 582 shares of the pipeline company’s stock worth $26,000 after purchasing an additional 308 shares during the last quarter. Hedge funds and other institutional investors own 54.60% of the company’s stock.

About Enbridge

(Get Free Report)

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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