Enbridge Inc. (NYSE:ENB) Short Interest Update

Enbridge Inc. (NYSE:ENB) (TSE:ENB) was the target of a large increase in short interest during the month of February. As of February 15th, there was short interest totalling 77,060,000 shares, an increase of 82.3% from the January 31st total of 42,280,000 shares. Based on an average trading volume of 4,290,000 shares, the days-to-cover ratio is presently 18.0 days. Currently, 3.5% of the shares of the stock are short sold.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. TD Securities assumed coverage on Enbridge in a research note on Wednesday, January 15th. They issued a “buy” rating on the stock. Royal Bank of Canada lifted their target price on Enbridge from $63.00 to $67.00 and gave the stock an “outperform” rating in a report on Tuesday, February 18th. Finally, Wells Fargo & Company raised Enbridge from an “underweight” rating to an “equal weight” rating in a research report on Wednesday, November 6th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, Enbridge currently has an average rating of “Hold” and a consensus price target of $67.00.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. McIlrath & Eck LLC raised its position in Enbridge by 74.9% during the third quarter. McIlrath & Eck LLC now owns 689 shares of the pipeline company’s stock valued at $28,000 after acquiring an additional 295 shares in the last quarter. Albion Financial Group UT acquired a new stake in shares of Enbridge in the fourth quarter worth approximately $29,000. Wintrust Investments LLC boosted its stake in shares of Enbridge by 47.8% in the fourth quarter. Wintrust Investments LLC now owns 736 shares of the pipeline company’s stock worth $31,000 after acquiring an additional 238 shares during the last quarter. GeoWealth Management LLC lifted its position in Enbridge by 436.4% during the fourth quarter. GeoWealth Management LLC now owns 751 shares of the pipeline company’s stock worth $32,000 after buying an additional 611 shares in the last quarter. Finally, Darwin Wealth Management LLC purchased a new position in Enbridge during the third quarter worth approximately $37,000. 54.60% of the stock is currently owned by hedge funds and other institutional investors.

Enbridge Price Performance

Shares of ENB stock opened at $42.68 on Tuesday. Enbridge has a 1-year low of $32.85 and a 1-year high of $45.78. The stock’s 50-day moving average is $43.44 and its 200 day moving average is $42.04. The company has a market cap of $93.00 billion, a P/E ratio of 24.81, a PEG ratio of 3.92 and a beta of 0.94. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.55 and a quick ratio of 0.54.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings results on Friday, February 14th. The pipeline company reported $0.75 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.23. Enbridge had a return on equity of 10.16% and a net margin of 10.04%. The company had revenue of $11.59 billion during the quarter, compared to analysts’ expectations of $4.78 billion. During the same period last year, the business posted $0.64 earnings per share. Research analysts predict that Enbridge will post 2.14 earnings per share for the current fiscal year.

Enbridge Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Saturday, March 1st. Stockholders of record on Saturday, February 15th were paid a $0.67 dividend. This represents a $2.68 annualized dividend and a dividend yield of 6.28%. The ex-dividend date was Friday, February 14th. Enbridge’s payout ratio is 155.81%.

Enbridge Company Profile

Enbridge Inc, together with its subsidiaries, operates as an energy infrastructure company. The company operates through five segments: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution and Storage, Renewable Power Generation, and Energy Services. The Liquids Pipelines segment operates pipelines and related terminals to transport various grades of crude oil and other liquid hydrocarbons in Canada and the United States.