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Shares of Enbridge (NYSE:ENB) have been given a consensus recommendation of “Buy” by the eight brokerages that are covering the stock, Stock Ratings News reports. Three research analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $59.50.

A number of analysts have recently weighed in on ENB shares. Analysts at TD Securities raised their price target on shares of Enbridge from C$58.00 to C$59.00 in a research note on Tuesday, August 5th. They now have a “buy” rating on the stock. Separately, analysts at Goldman Sachs downgraded shares of Enbridge from a “conviction-buy” rating to a “buy” rating in a research note on Wednesday, July 30th. Finally, analysts at Credit Suisse initiated coverage on shares of Enbridge in a research note on Wednesday, July 9th. They set a “neutral” rating on the stock.

Enbridge (NYSE:ENB) traded up 0.60% on Wednesday, hitting $50.07. The stock had a trading volume of 154,938 shares. Enbridge has a 1-year low of $39.98 and a 1-year high of $51.23. The stock has a 50-day moving average of $48.9 and a 200-day moving average of $46.63. The company has a market cap of $42.371 billion and a price-to-earnings ratio of 34.23.

Enbridge (NYSE:ENB) last announced its earnings results on Friday, August 1st. The company reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.01. During the same quarter in the previous year, the company posted $0.38 earnings per share. On average, analysts predict that Enbridge will post $1.92 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which is scheduled for Monday, September 1st. Shareholders of record on Friday, August 15th will be given a dividend of $0.3236 per share. This represents a $1.29 dividend on an annualized basis and a yield of 2.60%. The ex-dividend date of this dividend is Wednesday, August 13th.

Enbridge Inc (NYSE:ENB) transports and distributes energy across North America.

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