Enbridge Inc. (ENB) To Go Ex-Dividend on May 15th

Enbridge Inc. (NYSE:ENB) (TSE:ENB) declared a quarterly dividend on Friday, April 25th, Wall Street Journal reports. Stockholders of record on Thursday, May 15th will be given a dividend of 0.679 per share by the pipeline company on Sunday, June 1st. This represents a $2.72 annualized dividend and a dividend yield of 6.10%. The ex-dividend date of this dividend is Thursday, May 15th. This is a 1.3% increase from Enbridge’s previous quarterly dividend of $0.67.

Enbridge has increased its dividend payment by an average of 2.9% annually over the last three years and has increased its dividend annually for the last 2 consecutive years. Enbridge has a payout ratio of 118.3% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Enbridge to earn $2.18 per share next year, which means the company may not be able to cover its $2.72 annual dividend with an expected future payout ratio of 124.8%.

Enbridge Stock Down 3.4%

ENB stock opened at $44.53 on Tuesday. The company has a current ratio of 0.55, a quick ratio of 0.54 and a debt-to-equity ratio of 1.50. The firm has a 50-day moving average of $44.28 and a two-hundred day moving average of $43.35. Enbridge has a 12 month low of $34.60 and a 12 month high of $47.08. The company has a market cap of $97.08 billion, a price-to-earnings ratio of 25.89, a PEG ratio of 3.92 and a beta of 0.84.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings results on Friday, May 9th. The pipeline company reported $0.72 EPS for the quarter, beating the consensus estimate of $0.68 by $0.04. The firm had revenue of $7.27 billion during the quarter, compared to analysts’ expectations of $10.20 billion. Enbridge had a return on equity of 10.16% and a net margin of 10.04%. During the same quarter last year, the firm earned $0.92 earnings per share. As a group, analysts forecast that Enbridge will post 2.14 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. TD Securities initiated coverage on shares of Enbridge in a report on Wednesday, January 15th. They issued a “buy” rating for the company. Raymond James upgraded Enbridge to a “moderate buy” rating in a research note on Wednesday, April 23rd. Royal Bank of Canada reissued an “outperform” rating and set a $67.00 target price on shares of Enbridge in a research note on Monday. CIBC restated an “outperform” rating on shares of Enbridge in a report on Wednesday, March 5th. Finally, Citigroup assumed coverage on shares of Enbridge in a report on Friday, April 4th. They set a “buy” rating on the stock. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $67.00.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Enbridge stock. Brighton Jones LLC acquired a new position in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 6,151 shares of the pipeline company’s stock, valued at approximately $261,000. Hedge funds and other institutional investors own 54.60% of the company’s stock.

About Enbridge

Enbridge Inc, together with its subsidiaries, operates as an energy infrastructure company. The company operates through five segments: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution and Storage, Renewable Power Generation, and Energy Services. The Liquids Pipelines segment operates pipelines and related terminals to transport various grades of crude oil and other liquid hydrocarbons in Canada and the United States.