Enbridge Inc (NYSE:ENB – Get Free Report) (TSE:ENB) announced a quarterly dividend on Wednesday, November 4th. Investors of record on Friday, November 13th will be given a dividend of C$0.97 per share by the pipeline company on Tuesday, December 1st. This represents a $3.88 annualized dividend and a yield of 8.0%. The ex-dividend date is Friday, November 13th.
Enbridge has decreased its dividend by an average of 0.1% per year over the last three years and has increased its dividend every year for the last 2 years. Enbridge has a dividend payout ratio of 120.6% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Enbridge to earn $2.28 per share next year, which means the company may not be able to cover its $2.75 annual dividend with an expected future payout ratio of 120.6%.
Enbridge Stock Performance
NYSE ENB traded down $0.18 during trading hours on Wednesday, reaching $48.76. The company’s stock had a trading volume of 7,615,147 shares, compared to its average volume of 4,825,673. The company has a current ratio of 0.72, a quick ratio of 0.66 and a debt-to-equity ratio of 1.69. The business has a 50-day simple moving average of $48.23 and a 200 day simple moving average of $52.17. Enbridge has a 52 week low of $45.03 and a 52 week high of $58.45. The stock has a market cap of $108.67 billion, a PE ratio of 26.07, a PEG ratio of 5.91 and a beta of 0.59.
Enbridge Company Profile
Enbridge Inc is a Canadian energy infrastructure company that operates one of the largest pipeline and energy delivery networks in North America. Its businesses transport crude oil and other liquid hydrocarbons, move and store natural gas, and deliver natural gas to residential, commercial and industrial customers.
The company’s operations span Canada and the United States, including extensive pipeline systems serving major producing regions, refineries and population centers. Enbridge also develops and operates renewable power assets, including offshore and onshore wind projects, solar facilities and other lower-carbon energy infrastructure.
Enbridge traces its history to the Interprovincial Pipe Line Company, founded in 1949 to transport Canadian crude oil.
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