Enbridge Inc (ENB) Given Consensus Rating of “Hold” by Brokerages
Shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) have been assigned a consensus recommendation of “Hold” from the fifteen research firms that are covering the stock. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have given a buy rating to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $55.00.
A number of equities analysts recently weighed in on the company. Wells Fargo & Co reissued a “market perform” rating on shares of Enbridge in a research note on Friday, March 31st. Zacks Investment Research raised Enbridge from a “hold” rating to a “buy” rating and set a $48.00 price target on the stock in a research note on Thursday, February 16th. Morgan Stanley assumed coverage on Enbridge in a research note on Tuesday, May 2nd. They issued an “equal weight” rating and a $45.00 price target on the stock. Wolfe Research assumed coverage on Enbridge in a research note on Friday, May 12th. They issued a “market perform” rating and a $43.00 price target on the stock. Finally, Credit Suisse Group AG assumed coverage on Enbridge in a research note on Tuesday, March 14th. They issued an “outperform” rating and a $70.00 price target on the stock.
Enbridge (NYSE:ENB) traded up 1.78% during trading on Friday, hitting $39.48. 1,250,992 shares of the stock were exchanged. The stock’s 50 day moving average is $41.39 and its 200-day moving average is $42.01. The company has a market cap of $64.70 billion, a price-to-earnings ratio of 44.71 and a beta of 0.62. Enbridge has a one year low of $38.26 and a one year high of $45.77.
Enbridge (NYSE:ENB) last released its earnings results on Friday, February 17th. The pipeline company reported $0.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.44 by $0.02. The firm had revenue of $7 billion for the quarter, compared to analyst estimates of $7.10 billion. Enbridge had a return on equity of 14.67% and a net margin of 5.99%. During the same period in the previous year, the firm earned $0.58 earnings per share. On average, equities research analysts expect that Enbridge will post $1.60 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 1st. Shareholders of record on Monday, May 15th will be given a dividend of $0.4435 per share. The ex-dividend date is Thursday, May 11th. This is a positive change from Enbridge’s previous quarterly dividend of $0.33. This represents a $1.77 dividend on an annualized basis and a yield of 4.57%. Enbridge’s dividend payout ratio (DPR) is presently 119.33%.
A number of large investors have recently made changes to their positions in ENB. Bank of America Corp DE raised its stake in shares of Enbridge by 1,072.3% in the first quarter. Bank of America Corp DE now owns 30,748,683 shares of the pipeline company’s stock worth $1,286,524,000 after buying an additional 28,125,698 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Enbridge by 82.9% in the first quarter. Vanguard Group Inc. now owns 38,983,086 shares of the pipeline company’s stock worth $1,631,051,000 after buying an additional 17,671,076 shares during the last quarter. Bank of Montreal Can raised its stake in shares of Enbridge by 72.4% in the first quarter. Bank of Montreal Can now owns 38,965,561 shares of the pipeline company’s stock worth $1,630,318,000 after buying an additional 16,369,985 shares during the last quarter. Capital World Investors raised its stake in shares of Enbridge by 14.9% in the third quarter. Capital World Investors now owns 95,707,623 shares of the pipeline company’s stock worth $4,216,369,000 after buying an additional 12,376,715 shares during the last quarter. Finally, State Street Corp acquired a new stake in shares of Enbridge during the first quarter worth approximately $478,509,000. Hedge funds and other institutional investors own 71.79% of the company’s stock.
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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