Enbridge Inc. (NYSE:ENB) Receives $67.00 Consensus Price Target from Analysts

Enbridge Inc. (NYSE:ENB) (TSE:ENB) has been assigned a consensus recommendation of “Moderate Buy” from the seven analysts that are covering the company, MarketBeat reports. Three analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $67.00.

A number of equities research analysts have issued reports on the company. TD Securities initiated coverage on shares of Enbridge in a research note on Wednesday, January 15th. They issued a “buy” rating on the stock. Citigroup assumed coverage on Enbridge in a research note on Friday, April 4th. They set a “buy” rating on the stock. Raymond James upgraded Enbridge to a “moderate buy” rating in a research note on Wednesday, April 23rd. CIBC reiterated an “outperform” rating on shares of Enbridge in a report on Wednesday, March 5th. Finally, Royal Bank of Canada upped their price target on Enbridge from $63.00 to $67.00 and gave the stock an “outperform” rating in a report on Tuesday, February 18th.

Enbridge Stock Performance

NYSE ENB opened at $46.86 on Tuesday. The stock has a market cap of $102.16 billion, a price-to-earnings ratio of 27.24, a price-to-earnings-growth ratio of 3.92 and a beta of 0.80. The business has a fifty day moving average of $43.82 and a 200-day moving average of $43.15. Enbridge has a fifty-two week low of $34.60 and a fifty-two week high of $47.08. The company has a quick ratio of 0.54, a current ratio of 0.55 and a debt-to-equity ratio of 1.50.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings data on Friday, February 14th. The pipeline company reported $0.75 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.23. Enbridge had a return on equity of 10.16% and a net margin of 10.04%. The business had revenue of $11.59 billion during the quarter, compared to the consensus estimate of $4.78 billion. During the same quarter in the previous year, the business earned $0.64 earnings per share. As a group, analysts predict that Enbridge will post 2.14 earnings per share for the current fiscal year.

Enbridge Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Sunday, June 1st. Stockholders of record on Thursday, May 15th will be given a dividend of $0.679 per share. This is a boost from Enbridge’s previous quarterly dividend of $0.67. The ex-dividend date is Thursday, May 15th. This represents a $2.72 annualized dividend and a dividend yield of 5.80%. Enbridge’s dividend payout ratio (DPR) is presently 157.56%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Metis Global Partners LLC lifted its stake in Enbridge by 4.0% in the fourth quarter. Metis Global Partners LLC now owns 206,921 shares of the pipeline company’s stock valued at $8,782,000 after buying an additional 7,986 shares during the last quarter. Aviso Financial Inc. lifted its position in Enbridge by 4.3% in the 4th quarter. Aviso Financial Inc. now owns 1,417,584 shares of the pipeline company’s stock valued at $60,152,000 after purchasing an additional 58,176 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in Enbridge by 70.7% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 1,296,374 shares of the pipeline company’s stock valued at $52,648,000 after purchasing an additional 536,818 shares during the period. Vanguard Group Inc. grew its position in Enbridge by 4.1% in the 4th quarter. Vanguard Group Inc. now owns 91,617,146 shares of the pipeline company’s stock worth $3,888,507,000 after purchasing an additional 3,611,421 shares during the last quarter. Finally, Sound Income Strategies LLC increased its stake in shares of Enbridge by 8.6% in the fourth quarter. Sound Income Strategies LLC now owns 631,820 shares of the pipeline company’s stock valued at $26,808,000 after purchasing an additional 49,800 shares during the period. 54.60% of the stock is owned by institutional investors and hedge funds.

About Enbridge

Enbridge Inc, together with its subsidiaries, operates as an energy infrastructure company. The company operates through five segments: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution and Storage, Renewable Power Generation, and Energy Services. The Liquids Pipelines segment operates pipelines and related terminals to transport various grades of crude oil and other liquid hydrocarbons in Canada and the United States.