Enbridge (NYSE:ENB) Now Covered by Jefferies Financial Group
Jefferies Financial Group initiated coverage on shares of Enbridge (NYSE:ENB) (TSE:ENB) in a report published on Thursday, The Fly reports. The firm issued a hold rating and a $54.00 price target on the pipeline company’s stock.
Several other brokerages have also recently issued reports on ENB. Argus started coverage on Enbridge in a research report on Wednesday, December 4th. They set a buy rating and a $44.00 price target on the stock. US Capital Advisors restated an overweight rating on shares of Enbridge in a report on Friday, October 25th. Scotiabank upgraded Enbridge from a sector perform rating to an outperform rating in a report on Thursday, October 10th. Evercore ISI reaffirmed a hold rating and set a $48.00 target price on shares of Enbridge in a research note on Tuesday, November 12th. Finally, ValuEngine raised Enbridge from a strong sell rating to a sell rating in a report on Tuesday, December 3rd. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the stock. The stock currently has an average rating of Hold and an average price target of $46.88.
Enbridge stock opened at $38.51 on Thursday. The firm has a 50 day simple moving average of $37.27 and a 200-day simple moving average of $35.60. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.59 and a quick ratio of 0.50. The stock has a market capitalization of $77.94 billion, a PE ratio of 19.06, a price-to-earnings-growth ratio of 2.97 and a beta of 0.61. Enbridge has a 12-month low of $28.82 and a 12-month high of $38.77.
The business also recently disclosed a quarterly dividend, which was paid on Sunday, December 1st. Stockholders of record on Friday, November 15th were given a dividend of $0.561 per share. This represents a $2.24 dividend on an annualized basis and a dividend yield of 5.83%. The ex-dividend date of this dividend was Thursday, November 14th. This is an increase from Enbridge’s previous quarterly dividend of $0.56. Enbridge’s dividend payout ratio is 108.78%.
Several institutional investors and hedge funds have recently added to or reduced their stakes in ENB. Voloridge Investment Management LLC lifted its holdings in shares of Enbridge by 25.3% during the third quarter. Voloridge Investment Management LLC now owns 315,556 shares of the pipeline company’s stock valued at $11,070,000 after purchasing an additional 63,800 shares during the last quarter. Zimmer Partners LP lifted its stake in Enbridge by 319.7% during the third quarter. Zimmer Partners LP now owns 8,327,790 shares of the pipeline company’s stock valued at $292,269,000 after buying an additional 6,343,790 shares in the last quarter. Bank of Hawaii lifted its stake in Enbridge by 8.1% during the third quarter. Bank of Hawaii now owns 25,572 shares of the pipeline company’s stock valued at $897,000 after buying an additional 1,919 shares in the last quarter. IHT Wealth Management LLC lifted its stake in Enbridge by 10.3% during the third quarter. IHT Wealth Management LLC now owns 12,563 shares of the pipeline company’s stock valued at $441,000 after buying an additional 1,178 shares in the last quarter. Finally, National Pension Service boosted its holdings in shares of Enbridge by 4.9% in the third quarter. National Pension Service now owns 2,181,389 shares of the pipeline company’s stock worth $101,435,000 after buying an additional 101,643 shares during the period. 53.75% of the stock is owned by institutional investors and hedge funds.
Enbridge Inc operates as an energy infrastructure company in Canada and the United States. The company operates through five segments: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution, Green Power and Transmission, and Energy Services. The Liquids Pipelines segment operates common carrier and contract crude oil, natural gas liquids (NGL), and refined products pipelines and terminals.
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