Brokerages Set Enbridge Inc (NYSE:ENB) PT at $63.00

Enbridge Inc (NYSE:ENB) (TSE:ENB) has been assigned a consensus rating of “Hold” from the twelve analysts that are covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $63.00.

Several research analysts recently weighed in on the stock. Cibc World Mkts cut shares of Enbridge from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 9th. National Bankshares reissued a “sector perform” rating on shares of Enbridge in a research report on Monday, November 10th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Enbridge in a report on Wednesday, November 5th. Jefferies Financial Group raised Enbridge from a “hold” rating to a “buy” rating in a research report on Wednesday, July 23rd. Finally, Royal Bank Of Canada boosted their price objective on Enbridge from $67.00 to $72.00 and gave the stock an “outperform” rating in a research report on Monday, November 10th.

Institutional Trading of Enbridge

Several hedge funds have recently added to or reduced their stakes in the stock. Dagco Inc. purchased a new stake in shares of Enbridge during the 1st quarter worth approximately $25,000. Tsfg LLC grew its holdings in Enbridge by 329.6% during the third quarter. Tsfg LLC now owns 494 shares of the pipeline company’s stock valued at $25,000 after purchasing an additional 379 shares during the period. Whipplewood Advisors LLC increased its position in Enbridge by 112.4% in the second quarter. Whipplewood Advisors LLC now owns 582 shares of the pipeline company’s stock worth $26,000 after buying an additional 308 shares during the last quarter. Triumph Capital Management bought a new stake in shares of Enbridge in the third quarter valued at $26,000. Finally, Highline Wealth Partners LLC raised its stake in shares of Enbridge by 73.1% in the third quarter. Highline Wealth Partners LLC now owns 559 shares of the pipeline company’s stock valued at $28,000 after buying an additional 236 shares during the period. Institutional investors own 54.60% of the company’s stock.

Enbridge Trading Down 0.2%

Shares of Enbridge stock opened at $47.77 on Friday. The company has a market capitalization of $104.21 billion, a P/E ratio of 23.53, a price-to-earnings-growth ratio of 4.31 and a beta of 0.76. The stock has a fifty day simple moving average of $48.26 and a 200 day simple moving average of $46.84. Enbridge has a 12-month low of $39.73 and a 12-month high of $50.54. The company has a current ratio of 0.75, a quick ratio of 0.65 and a debt-to-equity ratio of 1.58.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings data on Friday, November 7th. The pipeline company reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.06). Enbridge had a return on equity of 10.77% and a net margin of 10.11%.The firm had revenue of $7 billion for the quarter, compared to analysts’ expectations of $8.45 billion. During the same period in the prior year, the firm earned $0.55 earnings per share. On average, sell-side analysts anticipate that Enbridge will post 2.14 earnings per share for the current fiscal year.

Enbridge Increases Dividend

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

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.