Brokerages Set Enbridge Inc (NYSE:ENB) Price Target at $55.00
Enbridge Inc (NYSE:ENB) (TSE:ENB) has been given an average recommendation of “Hold” by the sixteen ratings firms that are currently covering the company, Marketbeat reports. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and eight have assigned a buy rating to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $54.86.
Several analysts have recently commented on the stock. Zacks Investment Research lowered shares of Enbridge from a “hold” rating to a “strong sell” rating in a research report on Monday, April 24th. Morgan Stanley started coverage on shares of Enbridge in a research note on Tuesday, May 2nd. They set an “equal weight” rating and a $45.00 price objective on the stock. Wolfe Research started coverage on shares of Enbridge in a research note on Friday, May 12th. They set a “market perform” rating and a $43.00 price objective on the stock. BidaskClub raised shares of Enbridge from a “strong sell” rating to a “sell” rating in a research note on Saturday, June 24th. Finally, J P Morgan Chase & Co reaffirmed a “neutral” rating on shares of Enbridge in a research note on Friday, June 23rd.
Shares of Enbridge (NYSE:ENB) opened at 41.51 on Monday. The company has a market cap of $68.03 billion, a price-to-earnings ratio of 43.47 and a beta of 0.62. Enbridge has a 12-month low of $37.37 and a 12-month high of $45.77. The firm has a 50 day moving average price of $40.07 and a 200-day moving average price of $41.05.
Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings results on Thursday, August 3rd. The pipeline company reported $0.30 EPS for the quarter, missing the consensus estimate of $0.35 by $0.05. The business had revenue of $8.26 billion during the quarter, compared to analyst estimates of $8.81 billion. Enbridge had a net margin of 5.28% and a return on equity of 6.04%. During the same quarter in the prior year, the company earned $0.50 earnings per share. On average, equities analysts expect that Enbridge will post $1.78 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Tuesday, August 15th will be issued a dividend of $0.489 per share. This is a positive change from Enbridge’s previous quarterly dividend of $0.33. This represents a $1.96 annualized dividend and a yield of 4.71%. The ex-dividend date of this dividend is Friday, August 11th. Enbridge’s dividend payout ratio (DPR) is currently 173.79%.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Woodstock Corp bought a new position in shares of Enbridge during the first quarter valued at $2,980,000. McQueen Ball & Associates Inc. acquired a new position in Enbridge during the first quarter valued at approximately $1,829,000. Franklin Street Advisors Inc. NC acquired a new position in Enbridge during the first quarter valued at approximately $666,000. First Financial Bank N.A. Trust Division acquired a new position in Enbridge during the first quarter valued at approximately $332,000. Finally, Park National Corp OH acquired a new position in Enbridge during the first quarter valued at approximately $1,600,000. 63.83% of the stock is owned by institutional investors.
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Enbridge Inc is a Canada-based energy transportation and distribution company. The Company is engaged in delivering energy. It operates through five segments: Liquids Pipelines, Gas Distribution, Gas Pipelines and Processing, Green Power and Transmission, and Energy Services. Liquids Pipelines consists of common carrier and contract crude oil, natural gas liquids (NGL), and refined products pipelines and terminals, including Canadian Mainline, Lakehead Pipeline System, Mid-Continent and Gulf Coast and Regional Oil Sands System.
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