Analysts Set Enbridge Inc (NYSE:ENB) PT at $63.00

Enbridge Inc (NYSE:ENB) (TSE:ENB) has been given a consensus rating of “Hold” by the twelve brokerages that are presently covering the stock, MarketBeat.com reports. Seven research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $63.00.

Several research analysts have recently commented on the company. CIBC downgraded Enbridge from an “outperform” rating to a “neutral” rating in a research note on Thursday, October 9th. Scotiabank restated a “sector perform” rating on shares of Enbridge in a research note on Monday, November 10th. Cibc World Mkts downgraded shares of Enbridge from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 9th. Zacks Research upgraded shares of Enbridge from a “strong sell” rating to a “hold” rating in a research report on Monday, December 29th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Enbridge in a research note on Monday, December 29th.

Enbridge Trading Up 0.8%

Shares of ENB stock opened at $45.66 on Friday. The company has a debt-to-equity ratio of 1.64, a current ratio of 0.80 and a quick ratio of 0.68. The company has a market cap of $99.59 billion, a price-to-earnings ratio of 25.09 and a beta of 0.68. Enbridge has a 1 year low of $39.73 and a 1 year high of $50.54. The firm has a fifty day moving average price of $47.49 and a 200-day moving average price of $47.28.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its earnings results on Friday, November 7th. The pipeline company reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.06). Enbridge had a return on equity of 10.51% and a net margin of 9.20%.The company had revenue of $7 billion during the quarter, compared to the consensus estimate of $8.45 billion. During the same period in the prior year, the business posted $0.55 earnings per share. As a group, equities analysts predict that Enbridge will post 2.14 earnings per share for the current year.

Enbridge Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Sunday, March 1st. Shareholders of record on Tuesday, February 17th will be issued 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 dividend on an annualized basis and a yield of 8.5%. The ex-dividend date of this dividend is Tuesday, February 17th. Enbridge’s payout ratio is 152.75%.

Institutional Trading of Enbridge

Several institutional investors have recently made changes to their positions in the business. Brighton Jones LLC bought a new stake in shares of Enbridge in the fourth quarter worth about $261,000. AQR Capital Management LLC raised its holdings in shares of Enbridge by 68.5% during the 1st quarter. AQR Capital Management LLC now owns 28,533 shares of the pipeline company’s stock worth $1,264,000 after acquiring an additional 11,599 shares in the last quarter. NewEdge Advisors LLC boosted its position in shares of Enbridge by 4.3% during the 1st quarter. NewEdge Advisors LLC now owns 376,551 shares of the pipeline company’s stock valued at $16,685,000 after acquiring an additional 15,659 shares during the last quarter. Parkwood LLC grew its holdings in shares of Enbridge by 1.0% in the first quarter. Parkwood LLC now owns 133,381 shares of the pipeline company’s stock valued at $5,910,000 after purchasing an additional 1,313 shares in the last quarter. Finally, Sciencast Management LP purchased a new position in shares of Enbridge in the first quarter valued at $1,650,000. Hedge funds and other institutional investors own 54.60% of the company’s stock.

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.