Enbridge Inc (NYSE:ENB) Receives $63.00 Average Price Target from Analysts

Enbridge Inc (NYSE:ENB) (TSE:ENB) has received an average recommendation of “Hold” from the twelve ratings firms that are presently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $63.00.

ENB has been the subject of a number of recent analyst reports. Cibc World Mkts cut Enbridge from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 9th. CIBC downgraded Enbridge from an “outperform” rating to a “neutral” rating in a report on Thursday, October 9th. Royal Bank Of Canada lifted their price objective on shares of Enbridge from $67.00 to $72.00 and gave the stock an “outperform” rating in a research report on Monday, November 10th. Zacks Research lowered shares of Enbridge from a “hold” rating to a “strong sell” rating in a research report on Tuesday, November 11th. Finally, Argus raised their target price on shares of Enbridge from $50.00 to $54.00 and gave the stock a “buy” rating in a research note on Tuesday, August 12th.

Institutional Trading of Enbridge

Several institutional investors have recently added to or reduced their stakes in the company. CIBC Bancorp USA Inc. bought a new position in Enbridge during the 3rd quarter worth $26,493,000. Blue Fin Capital Inc. grew its stake in shares of Enbridge by 11.5% in the third quarter. Blue Fin Capital Inc. now owns 15,815 shares of the pipeline company’s stock valued at $798,000 after acquiring an additional 1,628 shares in the last quarter. Centaurus Financial Inc. increased its position in Enbridge by 66.6% during the third quarter. Centaurus Financial Inc. now owns 24,434 shares of the pipeline company’s stock worth $1,233,000 after acquiring an additional 9,770 shares during the period. Coldstream Capital Management Inc. raised its stake in Enbridge by 25.5% in the 3rd quarter. Coldstream Capital Management Inc. now owns 7,128 shares of the pipeline company’s stock worth $360,000 after purchasing an additional 1,448 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd boosted its holdings in Enbridge by 683.7% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 2,602 shares of the pipeline company’s stock valued at $131,000 after purchasing an additional 2,270 shares during the period. 54.60% of the stock is currently owned by institutional investors.

Enbridge Stock Performance

Shares of ENB opened at $47.97 on Friday. The company has a market cap of $104.64 billion, a PE ratio of 23.63, a price-to-earnings-growth ratio of 4.31 and a beta of 0.76. The firm has a 50-day moving average of $48.23 and a 200-day moving average of $46.88. Enbridge has a one year low of $39.73 and a one year high of $50.54. The company has a debt-to-equity ratio of 1.58, a current ratio of 0.75 and a quick ratio of 0.65.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its earnings results on Friday, November 7th. The pipeline company reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.06). Enbridge had a net margin of 10.11% and a return on equity of 10.77%. The firm had revenue of $7 billion during the quarter, compared to analyst estimates of $8.45 billion. During the same quarter last year, the business posted $0.55 earnings per share. As a group, equities analysts forecast that Enbridge will post 2.14 earnings per share for the current year.

Enbridge Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Friday, November 14th will be issued a dividend of $0.9425 per share. This is a boost from Enbridge’s previous quarterly dividend of $0.68. This represents a $3.77 dividend on an annualized basis and a dividend yield of 7.9%. The ex-dividend date is Friday, November 14th. Enbridge’s dividend payout ratio is presently 147.80%.

Enbridge Company Profile

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.