Enbridge Inc (NYSE:ENB) Short Interest Up 21.0% in November

Enbridge Inc (NYSE:ENB) (TSE:ENB) saw a large increase in short interest in the month of November. As of November 30th, there was short interest totalling 17,068,961 shares, an increase of 21.0% from the November 15th total of 14,110,237 shares. Currently, 1.0% of the company’s shares are sold short. Based on an average daily trading volume, of 3,898,819 shares, the short-interest ratio is currently 4.4 days.

Shares of Enbridge (ENB) traded up $0.33 during trading on Thursday, reaching $39.49. 2,389,128 shares of the company’s stock were exchanged, compared to its average volume of 2,274,916. The firm has a market cap of $66,600.00, a price-to-earnings ratio of 25.31, a price-to-earnings-growth ratio of 2.53 and a beta of 0.64. Enbridge has a twelve month low of $34.39 and a twelve month high of $44.51. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.64 and a quick ratio of 0.50.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings data on Thursday, November 2nd. The pipeline company reported $0.39 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.36 by $0.03. The firm had revenue of $9.23 billion for the quarter, compared to analyst estimates of $8.54 billion. Enbridge had a net margin of 7.49% and a return on equity of 5.62%. During the same quarter in the prior year, the business earned $0.47 earnings per share. equities research analysts anticipate that Enbridge will post 1.54 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 1st. Stockholders of record on Thursday, February 15th will be paid a $0.5278 dividend. The ex-dividend date of this dividend is Wednesday, February 14th. This represents a $2.11 dividend on an annualized basis and a dividend yield of 5.35%. This is a positive change from Enbridge’s previous quarterly dividend of $0.47. Enbridge’s dividend payout ratio is presently 123.08%.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. SL Advisors LLC boosted its holdings in Enbridge by 5.7% during the fourth quarter. SL Advisors LLC now owns 242,668 shares of the pipeline company’s stock worth $9,490,000 after buying an additional 13,151 shares in the last quarter. Nexus Investment Management Inc. lifted its holdings in Enbridge by 5.5% during the fourth quarter. Nexus Investment Management Inc. now owns 298,338 shares of the pipeline company’s stock valued at $11,717,000 after purchasing an additional 15,550 shares in the last quarter. CGOV Asset Management lifted its holdings in Enbridge by 33.3% during the fourth quarter. CGOV Asset Management now owns 3,523,189 shares of the pipeline company’s stock valued at $173,200,000 after purchasing an additional 879,800 shares in the last quarter. Capital City Trust Co. FL lifted its holdings in Enbridge by 19.9% during the fourth quarter. Capital City Trust Co. FL now owns 22,936 shares of the pipeline company’s stock valued at $959,000 after purchasing an additional 3,804 shares in the last quarter. Finally, Chickasaw Capital Management LLC purchased a new position in Enbridge during the fourth quarter valued at $548,000. 62.14% of the stock is currently owned by hedge funds and other institutional investors.

Several equities research analysts have recently weighed in on ENB shares. GMP Securities cut shares of Enbridge from a “buy” rating to a “hold” rating in a research report on Tuesday, October 17th. Canaccord Genuity reiterated a “buy” rating and set a $54.00 price objective on shares of Enbridge in a research note on Thursday, November 30th. Zacks Investment Research upgraded shares of Enbridge from a “sell” rating to a “hold” rating in a research note on Wednesday, November 8th. Morgan Stanley reduced their price objective on shares of Enbridge from $43.00 to $41.00 and set an “equal weight” rating for the company in a research note on Friday, November 17th. Finally, Bank of America started coverage on shares of Enbridge in a research note on Tuesday. They set a “neutral” rating for the company. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company’s stock. Enbridge currently has a consensus rating of “Hold” and an average target price of $52.00.

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Enbridge Company Profile

Enbridge Inc is a Canada-based energy transportation and distribution company. The Company is engaged in delivering energy. It operates through five segments: Liquids Pipelines, Gas Distribution, Gas Pipelines and Processing, Green Power and Transmission, and Energy Services. Liquids Pipelines consists of common carrier and contract crude oil, natural gas liquids (NGL), and refined products pipelines and terminals, including Canadian Mainline, Lakehead Pipeline System, Mid-Continent and Gulf Coast and Regional Oil Sands System.

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