Enbridge Inc. (TSE:ENB) Given Average Rating of “Moderate Buy” by Brokerages

Enbridge Inc. (TSE:ENB) (NYSE:ENB) has been assigned an average recommendation of “Moderate Buy” from the twelve research firms that are covering the firm, MarketBeat Ratings reports. Six investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. The average 12-month target price among brokers that have covered the stock in the last year is C$73.31.

A number of equities research analysts have recently issued reports on the company. National Bank Financial upped their target price on Enbridge from C$71.00 to C$72.00 and gave the company a “sector perform” rating in a report on Tuesday, February 17th. Raymond James Financial lifted their price target on shares of Enbridge from C$75.00 to C$77.00 and gave the company a “moderate buy” rating in a research report on Tuesday, February 17th. Jefferies Financial Group downgraded Enbridge from a “buy” rating to a “hold” rating and lifted their target price for the stock from C$71.00 to C$76.00 in a research report on Tuesday, February 17th. Canadian Imperial Bank of Commerce dropped their price objective on Enbridge from C$71.00 to C$69.00 in a research note on Wednesday, December 17th. Finally, JPMorgan Chase & Co. lowered Enbridge from an “overweight” rating to a “neutral” rating and lowered their target price for the company from C$74.00 to C$69.00 in a research note on Tuesday, January 27th.

Enbridge Trading Down 0.2%

Enbridge stock opened at C$71.69 on Thursday. Enbridge has a 52-week low of C$56.51 and a 52-week high of C$73.71. The firm has a market capitalization of C$156.42 billion, a price-to-earnings ratio of 22.26, a PEG ratio of 1.72 and a beta of 0.95. The firm has a 50-day moving average price of C$66.80 and a two-hundred day moving average price of C$66.87. The company has a quick ratio of 0.44, a current ratio of 0.62 and a debt-to-equity ratio of 144.86.

Enbridge (TSE:ENB) (NYSE:ENB) last announced its quarterly earnings results on Friday, February 13th. The company reported C$0.88 earnings per share (EPS) for the quarter. Enbridge had a return on equity of 10.30% and a net margin of 13.75%.The company had revenue of C$17.18 billion during the quarter. Sell-side analysts expect that Enbridge will post 3.511912 earnings per share for the current year.

Enbridge Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, March 1st. Investors of record on Sunday, March 1st will be paid a dividend of $0.97 per share. This represents a $3.88 annualized dividend and a yield of 5.4%. The ex-dividend date of this dividend is Tuesday, February 17th. This is a positive change from Enbridge’s previous quarterly dividend of $0.94. Enbridge’s payout ratio is 117.08%.

About Enbridge

At Enbridge, we safely connect millions of people to the energy they rely on every day, fueling quality of life through our North American natural gas, oil and renewable power networks and our growing European offshore wind portfolio. We’re investing in modern energy delivery infrastructure to sustain access to secure, affordable energy and building on more than a century of operating conventional energy infrastructure and two decades of experience in renewable power. We’re advancing new technologies including hydrogen, renewable natural gas, and carbon capture and storage.