Enbridge Inc (NYSE:ENB) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) have been assigned an average recommendation of “Moderate Buy” from the thirteen ratings firms that are covering the stock, MarketBeat Ratings reports. Six investment analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $66.50.

Several analysts have recently commented on ENB shares. Scotiabank reiterated an “outperform” rating on shares of Enbridge in a report on Monday, May 11th. Canadian Imperial Bank of Commerce reiterated a “neutral” rating on shares of Enbridge in a report on Monday, May 11th. Weiss Ratings reiterated a “buy (b)” rating on shares of Enbridge in a report on Friday, May 22nd. Wall Street Zen lowered Enbridge from a “hold” rating to a “sell” rating in a report on Saturday. Finally, Royal Bank Of Canada increased their price objective on Enbridge from $76.00 to $79.00 and gave the company an “outperform” rating in a report on Monday, May 11th.

Enbridge Stock Performance

Shares of ENB opened at $56.25 on Friday. Enbridge has a 12 month low of $43.59 and a 12 month high of $58.45. The stock has a fifty day moving average price of $55.12 and a 200-day moving average price of $52.15. The company has a current ratio of 0.81, a quick ratio of 0.73 and a debt-to-equity ratio of 1.69. The firm has a market cap of $122.84 billion, a PE ratio of 26.41 and a beta of 0.58.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings data on Friday, May 8th. The pipeline company reported $0.71 EPS for the quarter, beating the consensus estimate of $0.69 by $0.02. Enbridge had a return on equity of 11.21% and a net margin of 9.83%.The firm had revenue of $9.37 billion during the quarter, compared to analyst estimates of $8.49 billion. During the same quarter in the prior year, the business posted $1.03 EPS. Equities research analysts predict that Enbridge will post 2.18 earnings per share for the current fiscal year.

Enbridge Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Friday, May 15th were given a $0.97 dividend. 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 Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Exchange Traded Concepts LLC increased its holdings in shares of Enbridge by 3.9% in the fourth quarter. Exchange Traded Concepts LLC now owns 1,121,715 shares of the pipeline company’s stock valued at $53,652,000 after purchasing an additional 41,601 shares during the period. Viking Fund Management LLC increased its holdings in shares of Enbridge by 35.2% in the fourth quarter. Viking Fund Management LLC now owns 236,000 shares of the pipeline company’s stock valued at $11,288,000 after purchasing an additional 61,500 shares during the period. Third View Private Wealth LLC acquired a new position in shares of Enbridge in the fourth quarter valued at about $3,691,000. Swiss Life Asset Management Ltd increased its holdings in shares of Enbridge by 19.2% in the third quarter. Swiss Life Asset Management Ltd now owns 276,434 shares of the pipeline company’s stock valued at $13,966,000 after purchasing an additional 44,524 shares during the period. Finally, Vanguard Group Inc. grew its position in Enbridge by 2.1% during the 4th quarter. Vanguard Group Inc. now owns 100,364,993 shares of the pipeline company’s stock worth $4,802,766,000 after purchasing an additional 2,067,516 shares during the period. 54.60% of the stock is owned by institutional investors and hedge funds.

About Enbridge

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.