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

Enbridge Inc. (TSE:ENB) (NYSE:ENB) has been given a consensus recommendation of “Moderate Buy” by the twelve ratings firms that are currently covering the stock, Marketbeat.com reports. Six analysts have rated the stock with a hold recommendation, five have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price target among brokerages that have covered the stock in the last year is C$73.31.

Several research analysts have recently issued reports on the stock. Scotiabank increased their price objective on shares of Enbridge from C$73.00 to C$77.00 and gave the company an “outperform” rating in a report on Tuesday, February 17th. ATB Cormark Capital Markets boosted their target price on Enbridge from C$72.00 to C$78.00 and gave the stock an “outperform” rating in a report on Tuesday, February 17th. Raymond James Financial upped their target price on Enbridge from C$75.00 to C$77.00 and gave the stock a “moderate buy” rating in a research report on Tuesday, February 17th. TD Securities lowered Enbridge from a “buy” rating to a “hold” rating and increased their price target for the company from C$70.00 to C$72.00 in a research note on Tuesday, February 17th. Finally, JPMorgan Chase & Co. cut Enbridge from an “overweight” rating to a “neutral” rating and lowered their price target for the company from C$74.00 to C$69.00 in a research report on Tuesday, January 27th.

Enbridge Stock Performance

ENB stock opened at C$75.83 on Monday. The company has a 50-day simple moving average of C$70.86 and a 200 day simple moving average of C$68.06. The company has a market capitalization of C$165.49 billion, a P/E ratio of 23.55, a PEG ratio of 1.72 and a beta of 1.00. The company has a quick ratio of 0.44, a current ratio of 0.63 and a debt-to-equity ratio of 170.86. Enbridge has a fifty-two week low of C$56.51 and a fifty-two week high of C$76.28.

Enbridge (TSE:ENB) (NYSE:ENB) last released its earnings results on Friday, February 13th. The company reported C$0.88 EPS for the quarter. Enbridge had a net margin of 11.50% and a return on equity of 12.34%. The firm had revenue of C$17.18 billion for the quarter. Sell-side analysts predict that Enbridge will post 3.511912 earnings per share for the current fiscal year.

Enbridge Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Sunday, March 1st. Investors of record on Sunday, March 1st were issued a dividend of $0.97 per share. The ex-dividend date of this dividend was Tuesday, February 17th. This is an increase from Enbridge’s previous quarterly dividend of $0.94. This represents a $3.88 dividend on an annualized basis and a yield of 5.1%. Enbridge’s dividend payout ratio is presently 117.08%.

About Enbridge

At Enbridge, we safely connect millions of people to the energy they rely on every day, fueling quality of life through our North American natural gas, oil and renewable power networks and our growing European offshore wind portfolio. We’re investing in modern energy delivery infrastructure to sustain access to secure, affordable energy and building on more than a century of operating conventional energy infrastructure and two decades of experience in renewable power. We’re advancing new technologies including hydrogen, renewable natural gas, and carbon capture and storage.