Enbridge Inc. (ENB) Receives Consensus Recommendation of “Buy” from Analysts
Shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) have been given a consensus recommendation of “Buy” by the fourteen brokerages that are presently covering the firm. Four analysts have rated the stock with a hold recommendation and ten have issued a buy recommendation on the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $59.13.
ENB has been the topic of several research reports. Bank of America Corp. began coverage on Enbridge in a research note on Thursday, September 1st. They set a “neutral” rating and a $56.00 price objective on the stock. RBC Capital Markets reaffirmed an “outperform” rating on shares of Enbridge in a report on Sunday, September 4th. Canaccord Genuity reaffirmed a “buy” rating on shares of Enbridge in a report on Sunday, September 4th. TD Securities reaffirmed a “buy” rating and set a $59.00 target price (up from $58.00) on shares of Enbridge in a report on Wednesday, August 3rd. Finally, Scotiabank reaffirmed an “outperform” rating and set a $61.00 target price on shares of Enbridge in a report on Friday, September 9th.
Shares of Enbridge (NYSE:ENB) traded up 0.19% on Friday, hitting $42.00. The company’s stock had a trading volume of 926,465 shares. The company has a 50 day moving average of $43.00 and a 200 day moving average of $41.86. Enbridge has a 1-year low of $27.43 and a 1-year high of $45.77. The firm has a market cap of $39.42 billion, a PE ratio of 28.69 and a beta of 0.62.
Enbridge (NYSE:ENB) last announced its quarterly earnings data on Thursday, November 3rd. The company reported $0.47 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.49 by $0.02. Enbridge had a net margin of 5.99% and a return on equity of 14.67%. During the same period last year, the firm posted $0.47 EPS. Equities analysts forecast that Enbridge will post $1.72 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, December 1st. Shareholders of record on Tuesday, November 15th will be given a $0.3956 dividend. The ex-dividend date is Thursday, November 10th. This represents a $1.58 dividend on an annualized basis and a yield of 3.78%. Enbridge’s dividend payout ratio (DPR) is 105.33%.
A number of large investors have recently added to or reduced their stakes in ENB. Baker Ellis Asset Management LLC purchased a new stake in Enbridge during the third quarter worth $102,000. Sunbelt Securities Inc. purchased a new stake in Enbridge during the second quarter worth $108,000. FNY Managed Accounts LLC purchased a new stake in Enbridge during the third quarter worth $111,000. Cornerstone Advisors Inc. increased its stake in Enbridge by 4,143.3% in the third quarter. Cornerstone Advisors Inc. now owns 2,546 shares of the company’s stock worth $113,000 after buying an additional 2,486 shares during the period. Finally, Assetmark Inc. increased its stake in Enbridge by 38.9% in the third quarter. Assetmark Inc. now owns 2,760 shares of the company’s stock worth $122,000 after buying an additional 773 shares during the period. Hedge funds and other institutional investors own 68.03% of the company’s stock.
Enbridge Inc (Enbridge) is an energy transportation and distribution company. The Company operates through five segments: Liquids Pipelines; Gas Distribution; Gas Pipelines, Processing and Energy Services; Sponsored Investments, and Corporate. The Company operates the crude oil and liquids transportation system in Canada and the United States.
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