Enbridge Inc (ENB) Given Average Recommendation of “Hold” by Brokerages
Shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) have earned an average recommendation of “Hold” from the sixteen analysts that are currently covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, six have assigned a hold recommendation and eight have assigned a buy recommendation to the company. The average 12 month price target among analysts that have covered the stock in the last year is $54.86.
Several analysts recently commented on the company. Morgan Stanley reaffirmed an “equal weight” rating and issued a $44.00 price target (down previously from $45.00) on shares of Enbridge in a research note on Friday, July 14th. BidaskClub raised Enbridge from a “strong sell” rating to a “sell” rating in a research note on Saturday, June 24th. J P Morgan Chase & Co reaffirmed a “neutral” rating on shares of Enbridge in a research note on Friday, June 23rd. Zacks Investment Research lowered Enbridge from a “hold” rating to a “sell” rating in a research note on Tuesday, July 11th. Finally, 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.
A number of institutional investors have recently modified their holdings of ENB. CGOV Asset Management increased its position in shares of Enbridge by 49.1% in the first quarter. CGOV Asset Management now owns 1,093,641 shares of the pipeline company’s stock valued at $60,927,000 after buying an additional 360,225 shares during the last quarter. United States Steel & Carnegie Pension Fund increased its position in shares of Enbridge by 27.0% in the first quarter. United States Steel & Carnegie Pension Fund now owns 1,647,915 shares of the pipeline company’s stock valued at $68,949,000 after buying an additional 350,450 shares during the last quarter. Nationwide Fund Advisors increased its position in shares of Enbridge by 33.4% in the first quarter. Nationwide Fund Advisors now owns 247,374 shares of the pipeline company’s stock valued at $10,350,000 after buying an additional 61,899 shares during the last quarter. First Citizens Bank & Trust Co. acquired a new position in shares of Enbridge during the first quarter valued at about $262,000. Finally, Shell Asset Management Co. increased its position in shares of Enbridge by 111.8% in the first quarter. Shell Asset Management Co. now owns 293,079 shares of the pipeline company’s stock valued at $16,178,000 after buying an additional 154,736 shares during the last quarter. Hedge funds and other institutional investors own 61.61% of the company’s stock.
Shares of Enbridge (NYSE ENB) traded down 0.70% on Tuesday, reaching $39.62. 1,502,004 shares of the company were exchanged. The stock has a market capitalization of $65.21 billion, a PE ratio of 32.48 and a beta of 0.62. The company has a 50-day moving average price of $40.63 and a 200 day moving average price of $40.73. Enbridge has a 1-year low of $37.37 and a 1-year high of $45.77.
Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings results on Thursday, August 3rd. The pipeline company reported $0.30 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.35 by $0.05. The company had revenue of $8.26 billion during the quarter, compared to analyst estimates of $8.81 billion. Enbridge had a net margin of 5.28% and a return on equity of 6.04%. During the same period in the prior year, the firm earned $0.50 EPS. On average, analysts forecast that Enbridge will post $1.60 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Tuesday, August 15th will be given a $0.489 dividend. This is an increase from Enbridge’s previous quarterly dividend of $0.33. The ex-dividend date is Friday, August 11th. This represents a $1.96 annualized dividend and a yield of 4.90%. Enbridge’s payout ratio is presently 190.29%.
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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