Enbridge Inc (NYSE:ENB) Given Average Recommendation of “Moderate Buy” by Analysts

Enbridge Inc (NYSE:ENB) (TSE:ENB) has been given an average rating of “Moderate Buy” by the thirteen analysts that are currently covering the company, MarketBeat Ratings reports. Six analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $66.50.

Several equities research analysts have weighed in on the company. Canadian Imperial Bank of Commerce reiterated a “neutral” rating on shares of Enbridge in a report on Monday. BMO Capital Markets restated a “market perform” rating on shares of Enbridge in a report on Tuesday, February 17th. Wall Street Zen lowered shares of Enbridge from a “hold” rating to a “sell” rating in a research note on Saturday, April 4th. Weiss Ratings upgraded shares of Enbridge from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, February 9th. Finally, JPMorgan Chase & Co. downgraded shares of Enbridge from an “overweight” rating to a “neutral” rating in a research report on Tuesday, January 27th.

Institutional Trading of Enbridge

A number of hedge funds have recently bought and sold shares of the stock. Tsfg LLC boosted its position in Enbridge by 329.6% during the 3rd quarter. Tsfg LLC now owns 494 shares of the pipeline company’s stock valued at $25,000 after acquiring an additional 379 shares in the last quarter. Triumph Capital Management bought a new position in shares of Enbridge in the 3rd quarter worth $26,000. Turning Point Benefit Group Inc. purchased a new stake in shares of Enbridge during the 3rd quarter worth $28,000. Inspire Investing LLC purchased a new stake in shares of Enbridge during the 4th quarter worth $29,000. Finally, Imprint Wealth LLC bought a new stake in Enbridge during the third quarter valued at about $31,000. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Enbridge Stock Up 0.7%

NYSE:ENB opened at $55.24 on Friday. The company has a market cap of $120.62 billion, a price-to-earnings ratio of 25.93 and a beta of 0.59. Enbridge has a twelve month low of $43.59 and a twelve month high of $55.49. The company has a current ratio of 0.81, a quick ratio of 0.55 and a debt-to-equity ratio of 1.69. The stock has a fifty day simple moving average of $53.82 and a 200-day simple moving average of $50.30.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings results on Friday, May 8th. The pipeline company reported $0.71 EPS for the quarter, topping the consensus estimate of $0.69 by $0.02. Enbridge had a net margin of 9.83% and a return on equity of 11.21%. The company had revenue of $9.37 billion for the quarter, compared to the consensus estimate of $8.49 billion. During the same quarter last year, the firm posted $1.03 EPS. Analysts anticipate that Enbridge will post 2.18 EPS for the current year.

Enbridge Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 1st. Stockholders of record on Friday, May 15th will be paid a dividend of $0.97 per share. The ex-dividend date is Friday, May 15th. This represents a $3.88 dividend on an annualized basis and a dividend yield of 7.0%. Enbridge’s dividend payout ratio (DPR) is currently 130.52%.

Enbridge Company Profile

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.