Enbridge Inc (ENB) to Issue Quarterly Dividend of C$0.97 on March 1st

Enbridge Inc (NYSE:ENB) (TSE:ENB) declared a quarterly dividend on Tuesday, December 2nd. Shareholders of record on Tuesday, February 17th will be paid a dividend of 0.97 per share by the pipeline company on Sunday, March 1st. This represents a c) dividend on an annualized basis and a dividend yield of 7.2%. The ex-dividend date is Tuesday, February 17th. This is a 2.9% increase from Enbridge’s previous quarterly dividend of $0.94.

Enbridge has decreased its dividend payment by an average of 0.1%annually over the last three years and has increased its dividend every year for the last 2 years. Enbridge has a payout ratio of 121.9% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Enbridge to earn $2.18 per share next year, which means the company may not be able to cover its $2.78 annual dividend with an expected future payout ratio of 127.5%.

Enbridge Stock Performance

ENB opened at $53.86 on Friday. Enbridge has a twelve month low of $39.73 and a twelve month high of $54.20. The firm has a market capitalization of $117.52 billion, a PE ratio of 23.42 and a beta of 0.69. The company has a current ratio of 0.80, a quick ratio of 0.68 and a debt-to-equity ratio of 1.64. The firm’s 50-day moving average price is $47.96 and its 200 day moving average price is $47.97.

Analyst Ratings Changes

Several research firms recently commented on ENB. BMO Capital Markets reaffirmed a “market perform” rating on shares of Enbridge in a report on Monday, November 10th. Zacks Research raised shares of Enbridge from a “strong sell” rating to a “hold” rating in a research report on Monday, December 29th. Royal Bank Of Canada upped their target price on shares of Enbridge from $67.00 to $72.00 and gave the company an “outperform” rating in a research report on Monday, November 10th. National Bank Financial restated a “sector perform” rating on shares of Enbridge in a research note on Monday, November 10th. Finally, JPMorgan Chase & Co. cut Enbridge from an “overweight” rating to a “neutral” rating in a research note on Tuesday, January 27th. Six research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, Enbridge currently has an average rating of “Moderate Buy” and a consensus price target of $63.00.

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.