Enbridge Inc (NYSE:ENB) Receives $66.50 Average Price Target from Analysts

Shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) have received a consensus rating of “Moderate Buy” from the thirteen analysts that are covering the firm, Marketbeat.com reports. Six equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $66.50.

Several research firms have commented on ENB. BMO Capital Markets reissued a “market perform” rating on shares of Enbridge in a research report on Tuesday, February 17th. Wall Street Zen lowered shares of Enbridge from a “hold” rating to a “sell” rating in a research report on Sunday, May 24th. Citigroup reissued a “buy” rating on shares of Enbridge in a research report on Thursday, February 19th. Royal Bank Of Canada increased their price target on shares of Enbridge from $76.00 to $79.00 and gave the company an “outperform” rating in a research report on Monday, May 11th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Enbridge in a research report on Friday, May 22nd.

Enbridge Stock Up 0.1%

NYSE:ENB opened at $56.34 on Wednesday. Enbridge has a 1-year low of $43.59 and a 1-year high of $58.45. The company has a 50-day moving average of $54.65 and a 200 day moving average of $51.39. The firm has a market cap of $123.04 billion, a PE ratio of 26.45 and a beta of 0.58. The company has a debt-to-equity ratio of 1.69, a current ratio of 0.81 and a quick ratio of 0.73.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings data on Friday, May 8th. The pipeline company reported $0.71 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.02. Enbridge had a net margin of 9.83% and a return on equity of 11.21%. The company had revenue of $9.37 billion during the quarter, compared to analyst estimates of $8.49 billion. During the same period in the prior year, the firm earned $1.03 earnings per share. As a group, research analysts anticipate that Enbridge will post 2.2 EPS for the current fiscal year.

Enbridge Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Friday, May 15th were given a dividend of $0.97 per share. This represents a $3.88 annualized dividend and a dividend yield of 6.9%. The ex-dividend date of this dividend was Friday, May 15th. Enbridge’s dividend payout ratio is presently 133.80%.

Institutional Trading of Enbridge

Several hedge funds have recently modified their holdings of ENB. Tsfg LLC lifted its position in shares of Enbridge by 329.6% during the third quarter. Tsfg LLC now owns 494 shares of the pipeline company’s stock valued at $25,000 after buying an additional 379 shares during the last quarter. Triumph Capital Management purchased a new stake in shares of Enbridge during the third quarter valued at about $26,000. Turning Point Benefit Group Inc. purchased a new stake in shares of Enbridge during the third quarter valued at about $28,000. Inspire Investing LLC purchased a new position in shares of Enbridge in the 4th quarter valued at approximately $29,000. Finally, Garner Asset Management Corp purchased a new position in shares of Enbridge in the 4th quarter valued at approximately $30,000. 54.60% of the stock is owned by hedge funds and other institutional investors.

Enbridge Company Profile

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.