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

Enbridge Inc (NYSE:ENBGet Free Report) (TSE:ENB) shares saw unusually-strong trading volume on Friday . Approximately 16,234,928 shares changed 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.

Key Enbridge News

Here are the key news stories impacting Enbridge this week:

Analyst Ratings Changes

ENB has been the topic of several recent research reports. Weiss Ratings upgraded Enbridge from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday. Royal Bank Of Canada boosted their target price on shares of Enbridge from $67.00 to $72.00 and gave the company an “outperform” rating in a research note on Monday, November 10th. National Bank Financial reaffirmed a “sector perform” rating on shares of Enbridge in a research note on Monday, November 10th. BMO Capital Markets reissued a “market perform” rating on shares of Enbridge in a research report on Monday, November 10th. Finally, Zacks Research upgraded shares of Enbridge from a “strong sell” rating to a “hold” rating in a research report on Monday, December 29th. Six equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $63.00.

View Our Latest Stock Analysis on ENB

Enbridge Trading Up 3.9%

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 business’s fifty day moving average is $47.84 and its 200-day moving average is $47.89. The stock has a market capitalization of $117.54 billion, a PE ratio of 29.62 and a beta of 0.69.

Enbridge Increases Dividend

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

Institutional Trading of Enbridge

A number of institutional investors have recently modified their holdings of ENB. Tsfg LLC grew its stake in shares of Enbridge by 329.6% during the third 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 purchased a new position in Enbridge in the third quarter valued at about $26,000. Highline Wealth Partners LLC boosted its holdings in 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. acquired a new stake in Enbridge during the 3rd quarter valued at approximately $28,000. Finally, Whipplewood Advisors LLC increased its holdings in 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.

Enbridge Company Profile

(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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