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

Shares of Enbridge Inc. (TSE:ENB) (NYSE:ENB) have been given an average rating of “Moderate Buy” by the twelve brokerages that are currently covering the company, MarketBeat reports. Seven investment analysts have rated the stock with a hold recommendation, four have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is C$75.50.

ENB has been the topic of several research analyst reports. National Bank Financial boosted their price target on Enbridge from C$73.00 to C$81.00 and gave the company a “sector perform” rating in a research note on Monday, June 1st. Royal Bank Of Canada lifted their target price on Enbridge from C$76.00 to C$79.00 and gave the stock an “outperform” rating in a report on Monday, May 11th. Scotiabank upped their target price on Enbridge from C$77.00 to C$78.00 and gave the company a “sector outperform” rating in a research report on Monday, May 11th. Raymond James Financial increased their price target on shares of Enbridge from C$78.00 to C$80.00 and gave the stock an “outperform” rating in a report on Monday, May 11th. Finally, Barclays raised their price target on shares of Enbridge from C$68.00 to C$73.00 in a research report on Tuesday, April 7th.

Enbridge Trading Down 2.2%

TSE ENB opened at C$76.91 on Wednesday. Enbridge has a 12-month low of C$59.68 and a 12-month high of C$80.65. The company has a fifty day simple moving average of C$76.50 and a two-hundred day simple moving average of C$72.05. The company has a current ratio of 0.81, a quick ratio of 0.44 and a debt-to-equity ratio of 168.58. The stock has a market cap of C$167.95 billion, a P/E ratio of 26.07, a P/E/G ratio of 1.72 and a beta of 0.74.

Enbridge (TSE:ENB) (NYSE:ENB) last announced its quarterly earnings data on Friday, May 8th. The company reported C$0.98 earnings per share for the quarter. Enbridge had a net margin of 9.43% and a return on equity of 11.11%. The firm had revenue of C$22.36 billion for the quarter. On average, analysts forecast that Enbridge will post 3.511912 earnings per share for the current year.

Enbridge Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Monday, June 1st were given a dividend of $0.97 per share. The ex-dividend date was Friday, May 15th. This represents a $3.88 dividend on an annualized basis and a yield of 5.0%. Enbridge’s payout ratio is currently 128.73%.

Insider Transactions at Enbridge

In other Enbridge news, Director Mayank Mulraj Ashar sold 3,000 shares of the company’s stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of C$78.87, for a total value of C$236,610.00. Following the completion of the transaction, the director owned 42,000 shares in the company, valued at approximately C$3,312,540. This represents a 6.67% decrease in their ownership of the stock. Also, insider Melissa Marie Laforge sold 855 shares of the company’s stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of C$80.16, for a total value of C$68,536.80. Following the completion of the transaction, the insider directly owned 7,904 shares of the company’s stock, valued at C$633,584.64. The trade was a 9.76% decrease in their position. Insiders sold 8,855 shares of company stock worth $695,547 in the last 90 days. Company insiders own 0.10% of the company’s stock.

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.