Enbridge Inc (NYSE:ENB) Given Average Rating of “Hold” by Analysts

Enbridge Inc (NYSE:ENB) (TSE:ENB) has received an average recommendation of “Hold” from the twelve analysts that are covering the stock, MarketBeat reports. Seven analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $63.00.

ENB has been the topic of several recent research reports. Royal Bank Of Canada upped their price target on shares of Enbridge from $67.00 to $72.00 and gave the company an “outperform” rating in a report on Monday, November 10th. Scotiabank upgraded Enbridge from a “sector perform” rating to a “sector outperform” rating in a research note on Friday, January 16th. Cibc World Mkts lowered Enbridge from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 9th. CIBC cut Enbridge from an “outperform” rating to a “neutral” rating in a research report on Thursday, October 9th. Finally, Zacks Research upgraded Enbridge from a “strong sell” rating to a “hold” rating in a research report on Monday, December 29th.

Enbridge Stock Performance

ENB opened at $48.50 on Thursday. The company has a current ratio of 0.80, a quick ratio of 0.68 and a debt-to-equity ratio of 1.64. Enbridge has a 12-month low of $39.73 and a 12-month high of $50.54. The firm has a 50 day moving average of $47.39 and a two-hundred day moving average of $47.52. The firm has a market capitalization of $105.80 billion, a PE ratio of 26.65 and a beta of 0.68.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings data on Friday, November 7th. The pipeline company reported $0.33 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.06). The business had revenue of $7 billion during the quarter, compared to analysts’ expectations of $8.45 billion. Enbridge had a net margin of 9.20% and a return on equity of 10.51%. During the same period last year, the company earned $0.55 earnings per share. On average, analysts anticipate that Enbridge will post 2.14 EPS for the current year.

Enbridge Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Sunday, March 1st. Investors of record on Tuesday, February 17th will be issued a dividend of $0.97 per share. This represents a $3.88 dividend on an annualized basis and a yield of 8.0%. This is a boost from Enbridge’s previous quarterly dividend of $0.94. The ex-dividend date of this dividend is Tuesday, February 17th. Enbridge’s payout ratio is currently 147.80%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of ENB. IHT Wealth Management LLC raised its holdings in shares of Enbridge by 1.2% in the second quarter. IHT Wealth Management LLC now owns 18,084 shares of the pipeline company’s stock valued at $820,000 after purchasing an additional 213 shares during the last quarter. Blue Fin Capital Inc. grew its position in Enbridge by 1.3% in the 4th quarter. Blue Fin Capital Inc. now owns 16,028 shares of the pipeline company’s stock worth $767,000 after purchasing an additional 213 shares in the last quarter. HBK Sorce Advisory LLC increased its stake in Enbridge by 1.8% in the 3rd quarter. HBK Sorce Advisory LLC now owns 12,424 shares of the pipeline company’s stock valued at $609,000 after buying an additional 215 shares during the last quarter. Copperleaf Capital LLC lifted its position in shares of Enbridge by 3.6% during the 3rd quarter. Copperleaf Capital LLC now owns 6,328 shares of the pipeline company’s stock worth $319,000 after buying an additional 217 shares in the last quarter. Finally, South Plains Financial Inc. lifted its position in shares of Enbridge by 13.2% during the 2nd quarter. South Plains Financial Inc. now owns 1,887 shares of the pipeline company’s stock worth $85,000 after buying an additional 220 shares in the last quarter. Institutional investors and hedge funds own 54.60% of the company’s stock.

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.