Enbridge Inc (NYSE:ENB) Declares C$0.97 Quarterly Dividend

Enbridge Inc (NYSE:ENB) (TSE:ENB) declared a quarterly dividend on Monday, July 27th. Stockholders of record on Friday, August 14th will be given a dividend of 0.97 per share by the pipeline company on Tuesday, September 1st. This represents a c) dividend on an annualized basis and a dividend yield of 7.0%. The ex-dividend date is Friday, August 14th.

Enbridge has decreased its dividend payment by an average of 0.1%annually over the last three years and has increased its dividend annually for the last 2 consecutive years. Enbridge has a payout ratio of 125.0% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Enbridge to earn $2.35 per share next year, which means the company may not be able to cover its $2.85 annual dividend with an expected future payout ratio of 121.3%.

Enbridge Price Performance

Shares of NYSE:ENB opened at $55.31 on Wednesday. The company has a 50 day moving average of $55.68 and a 200 day moving average of $53.43. The stock has a market cap of $120.79 billion, a P/E ratio of 25.97 and a beta of 0.58. Enbridge has a 12 month low of $44.58 and a 12 month high of $58.45. The company has a current ratio of 0.81, a quick ratio of 0.73 and a debt-to-equity ratio of 1.69.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its earnings results on Friday, May 8th. The pipeline company reported $0.71 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.02. Enbridge had a net margin of 9.83% and a return on equity of 11.21%. The business had revenue of $9.37 billion for the quarter, compared to analyst estimates of $8.49 billion. During the same quarter in the prior year, the firm posted $1.03 EPS. As a group, sell-side analysts forecast that Enbridge will post 2.13 EPS for the current fiscal year.

Wall Street Analyst Weigh In

ENB has been the topic of several research analyst reports. Canadian Imperial Bank of Commerce reaffirmed a “neutral” rating on shares of Enbridge in a report on Monday, May 11th. TD Securities reissued a “hold” rating on shares of Enbridge in a research note on Thursday, July 16th. Wall Street Zen upgraded Enbridge from a “sell” rating to a “hold” rating in a research report on Sunday, July 12th. Royal Bank Of Canada raised their price target on Enbridge from $76.00 to $79.00 and gave the company an “outperform” rating in a report on Monday, May 11th. Finally, Scotiabank reaffirmed an “outperform” rating on shares of Enbridge in a report on Tuesday, July 21st. Six analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, Enbridge currently has a consensus rating of “Moderate Buy” and an average price target of $66.50.

About Enbridge

Enbridge Inc is a Calgary, Alberta–based energy infrastructure company that develops, owns and operates a diversified portfolio of energy transportation, distribution and generation assets. Its core activities include the operation of crude oil and liquids pipelines, natural gas transmission and distribution systems, and energy storage facilities. In addition to midstream transportation and storage, Enbridge has expanded into renewable power generation and energy transition projects, including wind, solar and utility-scale generation assets.

The company serves customers primarily in Canada and the United States and has interests in other international energy projects.