Enbridge Inc. (NYSE:ENB) Plans $0.67 Quarterly Dividend

Enbridge Inc. (NYSE:ENB) (TSE:ENB) declared a quarterly dividend on Tuesday, July 30th, Zacks reports. Stockholders of record on Thursday, August 15th will be paid a dividend of 0.669 per share by the pipeline company on Sunday, September 1st. This represents a $2.68 annualized dividend and a dividend yield of 6.79%. The ex-dividend date of this dividend is Thursday, August 15th.

Enbridge has increased its dividend payment by an average of 3.6% per year over the last three years. Enbridge has a payout ratio of 118.2% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Enbridge to earn $2.20 per share next year, which means the company may not be able to cover its $2.66 annual dividend with an expected future payout ratio of 120.9%.

Enbridge Stock Performance

Shares of ENB opened at $39.39 on Wednesday. Enbridge has a 1 year low of $31.03 and a 1 year high of $39.50. The company has a market cap of $84.05 billion, a price-to-earnings ratio of 19.99, a price-to-earnings-growth ratio of 3.55 and a beta of 0.92. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.59 and a current ratio of 0.68. The firm has a fifty day moving average of $36.26 and a 200-day moving average of $35.78.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings results on Friday, August 2nd. The pipeline company reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.13. Enbridge had a net margin of 13.59% and a return on equity of 10.53%. The company had revenue of $8.29 billion during the quarter, compared to the consensus estimate of $4.28 billion. During the same quarter in the previous year, the company posted $0.51 earnings per share. As a group, equities analysts anticipate that Enbridge will post 2.12 earnings per share for the current year.

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.