Enbridge Inc (NYSE:ENB) Given Average Rating of “Hold” by Brokerages

Enbridge Inc (NYSE:ENB) (TSE:ENB) has earned a consensus recommendation of “Hold” from the fourteen ratings firms that are presently covering the company, MarketBeat Ratings reports. Eight investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $60.50.

A number of analysts recently issued reports on ENB shares. CIBC downgraded Enbridge from an “outperform” rating to a “neutral” rating in a research report on Thursday, October 9th. Wall Street Zen downgraded Enbridge from a “hold” rating to a “sell” rating in a research report on Sunday, September 21st. Zacks Research downgraded Enbridge from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 17th. Cibc World Mkts downgraded Enbridge from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 9th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Enbridge in a research report on Wednesday, October 8th.

Hedge Funds Weigh In On Enbridge

A number of institutional investors have recently bought and sold shares of ENB. Dagco Inc. acquired a new position in Enbridge during the first quarter worth approximately $25,000. Garde Capital Inc. acquired a new position in Enbridge during the first quarter worth approximately $26,000. Whipplewood Advisors LLC boosted its holdings in shares of Enbridge by 112.4% during the second quarter. Whipplewood Advisors LLC now owns 582 shares of the pipeline company’s stock worth $26,000 after acquiring an additional 308 shares during the period. Financial Gravity Asset Management Inc. bought a new stake in shares of Enbridge during the first quarter worth approximately $28,000. Finally, Highline Wealth Partners LLC boosted its holdings in shares of Enbridge by 73.1% during the third quarter. Highline Wealth Partners LLC now owns 559 shares of the pipeline company’s stock worth $28,000 after acquiring an additional 236 shares during the period. Institutional investors and hedge funds own 54.60% of the company’s stock.

Enbridge Price Performance

NYSE:ENB opened at $47.22 on Tuesday. 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 stock’s 50-day simple moving average is $48.46 and its 200 day simple moving average is $46.40. The company has a market cap of $102.97 billion, a P/E ratio of 23.26, a P/E/G ratio of 4.32 and a beta of 0.78. Enbridge has a 52-week low of $39.73 and a 52-week high of $50.54.

Enbridge (NYSE:ENB) (TSE:ENB) last released its earnings results on Friday, August 1st. The pipeline company reported $0.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.06. The business had revenue of $7.14 billion for the quarter, compared to the consensus estimate of $10.56 billion. Enbridge had a return on equity of 10.77% and a net margin of 10.11%.During the same quarter in the previous year, the business earned $0.58 earnings per share. As a group, sell-side analysts forecast that Enbridge will post 2.14 EPS for the current fiscal year.

Enbridge Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 1st. Shareholders of record on Friday, August 15th were given a dividend of $0.6839 per share. This represents a $2.74 dividend on an annualized basis and a yield of 5.8%. This is a boost from Enbridge’s previous quarterly dividend of $0.68. The ex-dividend date of this dividend was Friday, August 15th. Enbridge’s dividend payout ratio (DPR) is presently 134.98%.

About Enbridge

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.