Enbridge Inc (NYSE:ENB) Receives Consensus Rating of “Moderate Buy” from Analysts

Enbridge Inc (NYSE:ENB) (TSE:ENB) has earned a consensus rating of “Moderate Buy” from the eleven ratings firms that are presently covering the company, Marketbeat Ratings reports. Five analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $60.50.

A number of research firms have recently weighed in on ENB. Argus upped their target price on Enbridge from $50.00 to $54.00 and gave the company a “buy” rating in a research note on Tuesday, August 12th. Jefferies Financial Group upgraded Enbridge from a “hold” rating to a “buy” rating in a research note on Wednesday, July 23rd. National Bankshares reiterated a “sector perform” rating on shares of Enbridge in a research note on Tuesday, August 5th. Zacks Research lowered Enbridge from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 17th. Finally, Wall Street Zen lowered Enbridge from a “hold” rating to a “sell” rating in a research note on Sunday, September 21st.

Enbridge Stock Up 0.2%

ENB opened at $49.69 on Friday. The business’s fifty day moving average is $47.96 and its two-hundred day moving average is $46.04. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.65 and a current ratio of 0.75. The company has a market cap of $108.35 billion, a price-to-earnings ratio of 24.48, a PEG ratio of 4.54 and a beta of 0.78. Enbridge has a one year low of $39.73 and a one year high of $50.54.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings results on Friday, August 1st. The pipeline company reported $0.47 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.06. Enbridge had a return on equity of 10.77% and a net margin of 10.11%.The company had revenue of $7.14 billion during the quarter, compared to analysts’ expectations of $10.56 billion. During the same period in the previous year, the firm posted $0.58 earnings per share. Analysts anticipate that Enbridge will post 2.14 EPS for the current fiscal year.

Enbridge Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 1st. Shareholders of record on Friday, August 15th were paid a dividend of $0.6839 per share. This is a boost from Enbridge’s previous quarterly dividend of $0.68. This represents a $2.74 annualized dividend and a yield of 5.5%. The ex-dividend date was Friday, August 15th. Enbridge’s payout ratio is currently 134.98%.

Institutional Investors Weigh In On Enbridge

Institutional investors and hedge funds have recently modified their holdings of the stock. Dagco Inc. purchased a new stake in shares of Enbridge in the first quarter worth about $25,000. Garde Capital Inc. purchased a new position in Enbridge in the first quarter valued at about $26,000. Whipplewood Advisors LLC boosted its holdings in Enbridge by 112.4% in the second quarter. Whipplewood Advisors LLC now owns 582 shares of the pipeline company’s stock valued at $26,000 after purchasing an additional 308 shares during the last quarter. Financial Gravity Asset Management Inc. purchased a new position in Enbridge in the first quarter valued at about $28,000. Finally, Financial Gravity Companies Inc. purchased a new position in Enbridge in the second quarter valued at about $29,000. Hedge funds and other institutional investors own 54.60% of the company’s stock.

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.