Analysts Set Enbridge Inc (NYSE:ENB) Target Price at $60.50

Enbridge Inc (NYSE:ENB) (TSE:ENB) has been assigned a consensus recommendation of “Moderate Buy” from the eleven research firms that are presently covering the firm, MarketBeat reports. Five equities research analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $60.50.

ENB has been the topic of several research reports. Argus upped their price objective on Enbridge from $50.00 to $54.00 and gave the company a “buy” rating in a research note on Tuesday, August 12th. National Bankshares restated a “sector perform” rating on shares of Enbridge in a research note on Tuesday, August 5th. Zacks Research cut Enbridge from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 17th. Wall Street Zen cut Enbridge from a “hold” rating to a “sell” rating in a research report on Sunday, September 21st. Finally, Jefferies Financial Group upgraded Enbridge from a “hold” rating to a “buy” rating in a research report on Wednesday, July 23rd.

Enbridge Trading Up 0.2%

Shares of ENB opened at $49.69 on Friday. The company has a market capitalization of $108.35 billion, a P/E ratio of 24.48, a P/E/G ratio of 4.54 and a beta of 0.78. Enbridge has a one year low of $39.73 and a one year high of $50.54. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.65 and a current ratio of 0.75. The stock has a 50-day moving average price of $47.96 and a 200 day moving average price of $46.04.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings data on Friday, August 1st. The pipeline company reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.06. Enbridge had a return on equity of 10.77% and a net margin of 10.11%.The firm had revenue of $7.14 billion for the quarter, compared to analysts’ expectations of $10.56 billion. During the same quarter in the prior year, the firm posted $0.58 earnings per share. Sell-side analysts forecast that Enbridge will post 2.14 EPS for the current fiscal year.

Enbridge Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 1st. Investors of record on Friday, August 15th were given a $0.6839 dividend. The ex-dividend date was Friday, August 15th. This represents a $2.74 annualized dividend and a yield of 5.5%. This is an increase from Enbridge’s previous quarterly dividend of $0.68. Enbridge’s payout ratio is 134.98%.

Institutional Trading of Enbridge

Several large investors have recently added to or reduced their stakes in ENB. Brighton Jones LLC bought a new position in Enbridge during the 4th quarter valued at $261,000. Wellington Management Group LLP boosted its stake in Enbridge by 0.7% during the 4th quarter. Wellington Management Group LLP now owns 1,150,521 shares of the pipeline company’s stock valued at $48,806,000 after purchasing an additional 7,890 shares in the last quarter. Neville Rodie & Shaw Inc. boosted its stake in Enbridge by 8.2% during the 1st quarter. Neville Rodie & Shaw Inc. now owns 17,071 shares of the pipeline company’s stock valued at $756,000 after purchasing an additional 1,288 shares in the last quarter. Marcum Wealth LLC boosted its stake in Enbridge by 2.3% during the 1st quarter. Marcum Wealth LLC now owns 21,314 shares of the pipeline company’s stock valued at $944,000 after purchasing an additional 486 shares in the last quarter. Finally, Versant Capital Management Inc boosted its stake in Enbridge by 786.8% during the 1st quarter. Versant Capital Management Inc now owns 3,086 shares of the pipeline company’s stock valued at $137,000 after purchasing an additional 2,738 shares in the last quarter. 54.60% of the stock is currently owned by institutional investors and hedge funds.

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.