Enbridge Inc (NYSE:ENB) Declares Quarterly Dividend of C$0.97

Enbridge Inc (NYSE:ENB) (TSE:ENB) declared a quarterly dividend on Tuesday, July 28th. Investors of record on Friday, August 14th will be given a dividend of 0.97 per share by the pipeline company on Tuesday, September 1st. This represents a c) annualized dividend and a yield of 7.0%. The ex-dividend date is Friday, August 14th.

Enbridge has decreased its dividend by an average of 0.1%annually over the last three years and has increased its dividend annually for the last 2 consecutive years. Enbridge has a payout ratio of 125.0% 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 $2.35 per share next year, which means the company may not be able to cover its $2.85 annual dividend with an expected future payout ratio of 121.3%.

Enbridge Trading Down 0.1%

NYSE ENB traded down $0.04 during trading hours on Tuesday, hitting $55.31. 2,705,031 shares of the company’s stock were exchanged, compared to its average volume of 4,690,321. The business’s 50 day moving average is $55.71 and its 200-day moving average is $53.36. Enbridge has a 12-month low of $44.58 and a 12-month high of $58.45. The firm has a market capitalization of $120.79 billion, a P/E ratio of 25.97 and a beta of 0.58. The company has a debt-to-equity ratio of 1.69, a quick ratio of 0.73 and a current ratio of 0.81.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings results on Friday, May 8th. The pipeline company reported $0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.02. The firm had revenue of $9.37 billion for the quarter, compared to analyst estimates of $8.49 billion. Enbridge had a return on equity of 11.21% and a net margin of 9.83%.During the same period last year, the company earned $1.03 EPS. As a group, analysts anticipate that Enbridge will post 2.13 EPS for the current fiscal year.

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.