Enbridge Inc. (TSE:ENB) Receives Average Recommendation of “Moderate Buy” from Brokerages

Enbridge Inc. (TSE:ENB) (NYSE:ENB) has been assigned an average recommendation of “Moderate Buy” from the ten brokerages that are currently covering the company, Marketbeat.com reports. Five analysts have rated the stock with a hold recommendation, four have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is C$70.92.

A number of brokerages have recently commented on ENB. Scotiabank boosted their target price on shares of Enbridge from C$65.00 to C$69.00 and gave the company a “sector perform” rating in a report on Monday, October 20th. Raymond James Financial lifted their price target on shares of Enbridge from C$74.00 to C$76.00 in a research report on Monday, November 10th. CIBC lowered their price objective on Enbridge from C$71.00 to C$69.00 in a research note on Wednesday. Cibc World Mkts downgraded Enbridge from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 9th. Finally, National Bankshares increased their target price on Enbridge from C$66.00 to C$71.00 and gave the stock a “sector perform” rating in a research note on Wednesday.

Enbridge Stock Down 0.2%

ENB stock opened at C$64.30 on Friday. Enbridge has a fifty-two week low of C$56.51 and a fifty-two week high of C$70.39. The company has a market capitalization of C$140.37 billion, a price-to-earnings ratio of 25.22, a price-to-earnings-growth ratio of 1.72 and a beta of 0.91. The business’s 50 day moving average price is C$66.46 and its two-hundred day moving average price is C$65.28. The company has a debt-to-equity ratio of 144.86, a quick ratio of 0.44 and a current ratio of 0.62.

Enbridge (TSE:ENB) (NYSE:ENB) last released its quarterly earnings results on Friday, November 7th. The company reported C$0.46 earnings per share for the quarter. The company had revenue of C$14.64 billion for the quarter. Enbridge had a return on equity of 10.30% and a net margin of 13.75%. As a group, analysts forecast that Enbridge will post 3.511912 earnings per share for the current fiscal year.

Enbridge Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 1st. Investors of record on Monday, December 1st were given a dividend of $0.9425 per share. This represents a $3.77 annualized dividend and a yield of 5.9%. The ex-dividend date of this dividend was Friday, November 14th. Enbridge’s dividend payout ratio is 146.76%.

About Enbridge

Enbridge owns extensive midstream assets that transport hydrocarbons across the U.S. and Canada. Its pipeline network consists of the Canadian Mainline system, regional oil sands pipelines, and natural gas pipelines. The company also owns and operates a regulated natural gas utility and Canada’s largest natural gas distribution company. Finally, the firm has a small renewables portfolio primarily focused on onshore and offshore wind projects.