Enbridge Inc (NYSE:ENB) Given Average Rating of “Moderate Buy” by Analysts

Enbridge Inc (NYSE:ENBGet Free Report) (TSE:ENB) has been assigned an average rating of “Moderate Buy” from the thirteen research firms that are currently covering the firm, MarketBeat reports. Six research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $65.00.

A number of brokerages have weighed in on ENB. National Bank Financial reiterated a “sector perform” rating on shares of Enbridge in a report on Monday, November 10th. Weiss Ratings upgraded Enbridge from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, February 9th. Zacks Research raised Enbridge from a “strong sell” rating to a “hold” rating in a research note on Monday, December 29th. TD Securities lowered Enbridge from a “buy” rating to a “hold” rating in a research note on Tuesday, February 17th. Finally, BMO Capital Markets restated a “market perform” rating on shares of Enbridge in a report on Tuesday, February 17th.

Check Out Our Latest Stock Report on ENB

Enbridge Trading Down 0.2%

NYSE ENB opened at $51.50 on Monday. The company has a quick ratio of 0.55, a current ratio of 0.63 and a debt-to-equity ratio of 1.70. Enbridge has a twelve month low of $39.73 and a twelve month high of $54.19. The company has a market cap of $112.35 billion, a price-to-earnings ratio of 22.39 and a beta of 0.69. The business’s fifty day moving average is $48.39 and its 200 day moving average is $48.19.

Enbridge (NYSE:ENBGet Free Report) (TSE:ENB) last posted its earnings results on Friday, February 13th. The pipeline company reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.60 by $0.03. The firm had revenue of $17.18 billion for the quarter, compared to analyst estimates of $9.10 billion. Enbridge had a net margin of 11.30% and a return on equity of 11.19%. During the same period in the previous year, the firm posted $0.75 EPS. As a group, sell-side analysts expect that Enbridge will post 2.14 EPS for the current fiscal year.

Enbridge Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Sunday, March 1st. Shareholders of record on Tuesday, February 17th will be paid a dividend of $0.97 per share. This is a boost from Enbridge’s previous quarterly dividend of $0.94. The ex-dividend date is Tuesday, February 17th. This represents a $3.88 dividend on an annualized basis and a yield of 7.5%. Enbridge’s dividend payout ratio (DPR) is presently 120.87%.

More Enbridge News

Here are the key news stories impacting Enbridge this week:

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. raised its holdings in shares of Enbridge by 2.1% in the fourth quarter. Vanguard Group Inc. now owns 100,364,993 shares of the pipeline company’s stock valued at $4,802,766,000 after purchasing an additional 2,067,516 shares during the last quarter. TD Asset Management Inc grew its position in Enbridge by 0.3% in the 3rd quarter. TD Asset Management Inc now owns 40,021,291 shares of the pipeline company’s stock worth $2,019,473,000 after purchasing an additional 137,897 shares in the last quarter. Norges Bank bought a new stake in Enbridge in the 4th quarter worth about $1,195,559,000. Geode Capital Management LLC increased its stake in Enbridge by 7.1% in the 4th quarter. Geode Capital Management LLC now owns 21,421,826 shares of the pipeline company’s stock valued at $1,045,172,000 after buying an additional 1,415,995 shares during the last quarter. Finally, Legal & General Group Plc lifted its position in shares of Enbridge by 4.6% during the 4th quarter. Legal & General Group Plc now owns 19,677,864 shares of the pipeline company’s stock worth $942,806,000 after buying an additional 858,323 shares in the last quarter. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Enbridge Company Profile

(Get Free Report)

Enbridge Inc is a Calgary, Alberta–based energy infrastructure company that develops, owns and operates a diversified portfolio of energy transportation, distribution and generation assets. Its core activities include the operation of crude oil and liquids pipelines, natural gas transmission and distribution systems, and energy storage facilities. In addition to midstream transportation and storage, Enbridge has expanded into renewable power generation and energy transition projects, including wind, solar and utility-scale generation assets.

The company serves customers primarily in Canada and the United States and has interests in other international energy projects.

Further Reading

Analyst Recommendations for Enbridge (NYSE:ENB)

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