Enbridge (NYSE:ENB) Upgraded at Raymond James Financial

Raymond James Financial upgraded shares of Enbridge (NYSE:ENB) (TSE:ENB) to a moderate buy rating in a report released on Tuesday morning,Zacks.com reports.

Several other research analysts also recently weighed in on the company. Scotiabank reiterated an “outperform” rating on shares of Enbridge in a report on Tuesday. BMO Capital Markets reiterated a “market perform” rating on shares of Enbridge in a research note on Tuesday. TD Securities downgraded Enbridge from a “buy” rating to a “hold” rating in a research report on Tuesday. Zacks Research upgraded Enbridge from a “strong sell” rating to a “hold” rating in a report on Monday, December 29th. Finally, National Bank Financial reiterated a “sector perform” rating on shares of Enbridge in a report on Monday, November 10th. Seven investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $65.00.

Enbridge Price Performance

NYSE:ENB opened at $51.57 on Tuesday. The firm has a market cap of $112.51 billion, a price-to-earnings ratio of 22.42 and a beta of 0.69. The company has a current ratio of 0.63, a quick ratio of 0.68 and a debt-to-equity ratio of 1.70. The company’s 50-day moving average is $48.31 and its two-hundred day moving average is $48.14. Enbridge has a 12-month low of $39.73 and a 12-month high of $54.19.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings results on Friday, February 13th. The pipeline company reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.60 by $0.03. The business had revenue of $17.18 billion during the quarter, compared to the consensus estimate of $9.10 billion. Enbridge had a net margin of 11.30% and a return on equity of 11.19%. During the same period in the previous year, the firm posted $0.75 earnings per share. Research analysts expect that Enbridge will post 2.14 EPS for the current year.

Enbridge Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Sunday, March 1st. Shareholders of record on Tuesday, February 17th will be paid a dividend of $0.97 per share. This is a boost from Enbridge’s previous quarterly dividend of $0.94. This represents a $3.88 annualized dividend and a yield of 7.5%. The ex-dividend date is Tuesday, February 17th. Enbridge’s payout ratio is currently 120.87%.

Institutional Trading of Enbridge

Institutional investors have recently modified their holdings of the company. MIdWestOne Financial Group Inc. lifted its position in Enbridge by 4.3% during the fourth quarter. MIdWestOne Financial Group Inc. now owns 4,906 shares of the pipeline company’s stock valued at $235,000 after buying an additional 203 shares in the last quarter. Sumitomo Life Insurance Co. increased its position in shares of Enbridge by 1.1% in the fourth quarter. Sumitomo Life Insurance Co. now owns 18,621 shares of the pipeline company’s stock worth $891,000 after acquiring an additional 205 shares in the last quarter. Arete Wealth Advisors LLC increased its holdings in Enbridge by 4.4% in the 4th quarter. Arete Wealth Advisors LLC now owns 4,914 shares of the pipeline company’s stock valued at $235,000 after purchasing an additional 208 shares in the last quarter. Blue Fin Capital Inc. raised its position in Enbridge by 1.3% in the fourth quarter. Blue Fin Capital Inc. now owns 16,028 shares of the pipeline company’s stock valued at $767,000 after purchasing an additional 213 shares during the period. Finally, Guinness Atkinson Asset Management Inc lifted its stake in shares of Enbridge by 3.4% during the fourth quarter. Guinness Atkinson Asset Management Inc now owns 6,475 shares of the pipeline company’s stock worth $309,000 after purchasing an additional 213 shares in the last quarter. Hedge funds and other institutional investors own 54.60% of the company’s stock.

About Enbridge

Enbridge Inc is a Calgary, Alberta–based energy infrastructure company that develops, owns and operates a diversified portfolio of energy transportation, distribution and generation assets. Its core activities include the operation of crude oil and liquids pipelines, natural gas transmission and distribution systems, and energy storage facilities. In addition to midstream transportation and storage, Enbridge has expanded into renewable power generation and energy transition projects, including wind, solar and utility-scale generation assets.

The company serves customers primarily in Canada and the United States and has interests in other international energy projects.