Enbridge Inc (ENB) Given Average Recommendation of “Hold” by Brokerages
Enbridge Inc (NYSE:ENB) (TSE:ENB) has received a consensus rating of “Hold” from the ten research firms that are presently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating on the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $52.00.
Several research firms recently issued reports on ENB. GMP Securities lowered shares of Enbridge from a “buy” rating to a “hold” rating in a research note on Tuesday, October 17th. BidaskClub raised shares of Enbridge from a “strong sell” rating to a “sell” rating in a research note on Friday, August 25th. Zacks Investment Research lowered shares of Enbridge from a “hold” rating to a “sell” rating in a research note on Tuesday, October 31st. Canaccord Genuity reaffirmed a “buy” rating and issued a $54.00 price objective on shares of Enbridge in a research note on Thursday, November 30th. Finally, 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.
Enbridge (NYSE ENB) traded down $0.25 during mid-day trading on Thursday, hitting $38.14. 2,288,400 shares of the company traded hands, compared to its average volume of 4,087,261. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.50 and a current ratio of 0.64. Enbridge has a 1-year low of $34.39 and a 1-year high of $44.51. The firm has a market cap of $63,483.59, a price-to-earnings ratio of 24.93, a PEG ratio of 2.67 and a beta of 0.64.
The company also recently announced a quarterly dividend, which will be paid on Thursday, March 1st. Shareholders of record on Thursday, February 15th will be given a dividend of $0.5278 per share. This is a positive change from Enbridge’s previous quarterly dividend of $0.47. The ex-dividend date of this dividend is Wednesday, February 14th. This represents a $2.11 dividend on an annualized basis and a yield of 5.54%. Enbridge’s payout ratio is currently 120.76%.
A number of institutional investors have recently added to or reduced their stakes in the business. Capital World Investors lifted its position in Enbridge by 8.2% during the 2nd quarter. Capital World Investors now owns 149,378,598 shares of the pipeline company’s stock worth $5,948,565,000 after acquiring an additional 11,294,003 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec lifted its position in Enbridge by 0.6% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 46,491,107 shares of the pipeline company’s stock worth $1,945,188,000 after acquiring an additional 279,597 shares during the last quarter. TD Asset Management Inc. lifted its position in Enbridge by 3.4% during the 3rd quarter. TD Asset Management Inc. now owns 44,896,840 shares of the pipeline company’s stock worth $1,871,055,000 after acquiring an additional 1,495,767 shares during the last quarter. Capital International Investors lifted its position in Enbridge by 7.8% during the 3rd quarter. Capital International Investors now owns 41,164,593 shares of the pipeline company’s stock worth $1,721,048,000 after acquiring an additional 2,984,467 shares during the last quarter. Finally, Vanguard Group Inc. lifted its position in Enbridge by 4.5% during the 2nd quarter. Vanguard Group Inc. now owns 40,741,765 shares of the pipeline company’s stock worth $1,621,930,000 after acquiring an additional 1,758,679 shares during the last quarter. 62.18% of the stock is owned by hedge funds and other institutional investors.
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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