Enbridge Inc (NYSE:ENB) (TSE:ENB) announced a quarterly dividend on Wednesday, November 1st, NASDAQ reports. Shareholders of record on Wednesday, November 15th will be paid a dividend of 0.474 per share by the pipeline company on Friday, December 1st. This represents a $1.90 dividend on an annualized basis and a yield of 5.20%. The ex-dividend date of this dividend is Tuesday, November 14th. This is a boost from Enbridge’s previous quarterly dividend of $0.33.

Enbridge has increased its dividend payment by an average of 8.8% per year over the last three years and has raised its dividend every year for the last 5 years. Enbridge has a dividend payout ratio of 159.5% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Enbridge to earn $1.77 per share next year, which means the company may not be able to cover its $2.44 annual dividend with an expected future payout ratio of 137.9%.

Shares of Enbridge (NYSE ENB) traded down $0.16 during midday trading on Monday, reaching $36.48. The company’s stock had a trading volume of 2,128,700 shares, compared to its average volume of 4,102,315. Enbridge has a 12-month low of $36.33 and a 12-month high of $44.51. The firm has a market cap of $59,740.00, a price-to-earnings ratio of 23.69, a PEG ratio of 2.27 and a beta of 0.64. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.64 and a quick ratio of 0.50.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings data on Thursday, November 2nd. The pipeline company reported $0.39 EPS for the quarter, topping the Zacks’ consensus estimate of $0.36 by $0.03. Enbridge had a return on equity of 5.62% and a net margin of 7.49%. The firm had revenue of $9.23 billion during the quarter, compared to analyst estimates of $8.54 billion. During the same period last year, the company posted $0.47 EPS. equities research analysts forecast that Enbridge will post 1.53 EPS for the current fiscal year.

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Several equities research analysts have recently issued reports on the company. GMP Securities lowered Enbridge from a “buy” rating to a “hold” rating in a report on Tuesday, October 17th. BidaskClub upgraded Enbridge from a “strong sell” rating to a “sell” rating in a report on Friday, August 25th. Finally, Zacks Investment Research lowered Enbridge from a “hold” rating to a “sell” rating in a report on Tuesday, October 31st. One analyst has rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $52.33.

About Enbridge

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.

Dividend History for Enbridge (NYSE:ENB)

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