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

Enbridge Inc (NYSE:ENB) (TSE:ENB) has been given a consensus rating of “Moderate Buy” by the twelve brokerages that are currently covering the company, MarketBeat.com reports. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 1 year price target among analysts that have covered the stock in the last year is $66.50.

Several equities analysts have recently commented on the company. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Enbridge in a research report on Friday, May 22nd. Scotiabank restated an “outperform” rating on shares of Enbridge in a research note on Tuesday, July 21st. Wall Street Zen raised shares of Enbridge from a “sell” rating to a “hold” rating in a research report on Sunday, July 12th. Canadian Imperial Bank of Commerce restated a “neutral” rating on shares of Enbridge in a research note on Monday, May 11th. Finally, Royal Bank Of Canada raised their price target on shares of Enbridge from $76.00 to $79.00 and gave the stock an “outperform” rating in a research report on Monday, May 11th.

Enbridge Stock Down 2.6%

Shares of ENB stock opened at $55.36 on Thursday. The company has a debt-to-equity ratio of 1.69, a quick ratio of 0.73 and a current ratio of 0.81. The firm’s 50-day moving average is $55.71 and its 200-day moving average is $53.36. The stock has a market cap of $120.91 billion, a price-to-earnings ratio of 25.99 and a beta of 0.58. Enbridge has a 52-week low of $44.58 and a 52-week high of $58.45.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings results 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. The firm had revenue of $9.37 billion for the quarter, compared to the consensus estimate of $8.49 billion. Enbridge had a return on equity of 11.21% and a net margin of 9.83%.During the same quarter in the previous year, the business earned $1.03 earnings per share. Sell-side analysts predict that Enbridge will post 2.13 EPS for the current year.

Enbridge Announces Dividend

The firm also recently announced 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 dividend on an annualized basis and a dividend yield of 7.0%. The ex-dividend date was Friday, May 15th. Enbridge’s dividend payout ratio is presently 133.80%.

Institutional Investors Weigh In On Enbridge

Hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. lifted its position in shares of Enbridge by 2.1% during the 4th quarter. Vanguard Group Inc. now owns 100,364,993 shares of the pipeline company’s stock valued at $4,802,766,000 after acquiring an additional 2,067,516 shares during the period. Norges Bank bought a new position in shares of Enbridge in the fourth quarter worth $1,195,559,000. Geode Capital Management LLC raised its stake in Enbridge by 7.1% in the fourth quarter. Geode Capital Management LLC now owns 21,421,826 shares of the pipeline company’s stock valued at $1,045,172,000 after purchasing an additional 1,415,995 shares in the last quarter. Legal & General Group Plc raised its stake in Enbridge by 4.6% in the fourth quarter. Legal & General Group Plc now owns 19,677,864 shares of the pipeline company’s stock valued at $942,806,000 after purchasing an additional 858,323 shares in the last quarter. Finally, Mackenzie Financial Corp lifted its position in Enbridge by 4.9% during the fourth quarter. Mackenzie Financial Corp now owns 18,163,267 shares of the pipeline company’s stock worth $870,577,000 after purchasing an additional 844,594 shares during the period. 54.60% of the stock is currently owned by institutional investors and hedge funds.

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.