Enbridge Inc. (NYSE:ENB) Plans Quarterly Dividend of $0.67

Enbridge Inc. (NYSE:ENB) (TSE:ENB) declared a quarterly dividend on Tuesday, July 30th, Zacks reports. Investors of record on Thursday, August 15th will be given a dividend of 0.669 per share by the pipeline company on Sunday, September 1st. This represents a $2.68 dividend on an annualized basis and a yield of 6.79%. The ex-dividend date of this dividend is Thursday, August 15th.

Enbridge has raised its dividend by an average of 3.6% per year over the last three years. Enbridge has a payout ratio of 118.2% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Enbridge to earn $2.20 per share next year, which means the company may not be able to cover its $2.66 annual dividend with an expected future payout ratio of 120.9%.

Enbridge Stock Performance

NYSE:ENB opened at $39.39 on Wednesday. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.68 and a quick ratio of 0.59. The firm has a market capitalization of $84.05 billion, a price-to-earnings ratio of 19.99, a PEG ratio of 3.55 and a beta of 0.92. The company’s 50-day moving average is $36.26 and its two-hundred day moving average is $35.78. Enbridge has a 1-year low of $31.03 and a 1-year high of $39.50.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its earnings results on Friday, August 2nd. The pipeline company reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.13. The company had revenue of $8.29 billion for the quarter, compared to analyst estimates of $4.28 billion. Enbridge had a net margin of 13.59% and a return on equity of 10.53%. During the same period in the previous year, the business posted $0.51 EPS. Analysts forecast that Enbridge will post 2.12 EPS for the current year.

Enbridge Company Profile

Enbridge Inc, together with its subsidiaries, operates as an energy infrastructure company. The company operates through five segments: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution and Storage, Renewable Power Generation, and Energy Services. The Liquids Pipelines segment operates pipelines and related terminals to transport various grades of crude oil and other liquid hydrocarbons in Canada and the United States.