Enbridge Inc. (NYSE:ENB) Given Consensus Recommendation of “Reduce” by Analysts

Enbridge Inc. (NYSE:ENB) (TSE:ENB) has been given an average rating of “Reduce” by the six research firms that are covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating on the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $51.50.

Separately, Jefferies Financial Group cut Enbridge from a “buy” rating to a “hold” rating in a research report on Monday, September 30th.

Enbridge Trading Up 0.8 %

Shares of NYSE ENB opened at $41.08 on Monday. The company has a market cap of $87.66 billion, a price-to-earnings ratio of 20.85, a price-to-earnings-growth ratio of 3.93 and a beta of 0.93. Enbridge has a 12-month low of $31.17 and a 12-month high of $41.35. The company has a current ratio of 0.77, a quick ratio of 0.68 and a debt-to-equity ratio of 1.34. The stock’s 50 day simple moving average is $39.70 and its 200 day simple moving average is $37.17.

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, topping the consensus estimate of $0.45 by $0.13. The business had revenue of $8.29 billion for the quarter, compared to the consensus estimate of $4.28 billion. Enbridge had a return on equity of 10.07% and a net margin of 13.31%. During the same quarter last year, the business posted $0.51 EPS. Equities research analysts expect that Enbridge will post 2.08 EPS for the current year.

Enbridge Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Thursday, August 15th were given a dividend of $0.669 per share. This represents a $2.68 annualized dividend and a dividend yield of 6.51%. The ex-dividend date was Thursday, August 15th. Enbridge’s dividend payout ratio (DPR) is presently 134.01%.

Hedge Funds Weigh In On Enbridge

A number of hedge funds have recently modified their holdings of the stock. Rockwood Wealth Management LLC grew its holdings in shares of Enbridge by 2.6% in the 2nd quarter. Rockwood Wealth Management LLC now owns 11,107 shares of the pipeline company’s stock worth $395,000 after acquiring an additional 285 shares during the last quarter. Whittier Trust Co. of Nevada Inc. boosted its position in shares of Enbridge by 3.7% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 8,269 shares of the pipeline company’s stock worth $294,000 after buying an additional 298 shares during the period. Nations Financial Group Inc. IA ADV boosted its position in shares of Enbridge by 1.7% in the second quarter. Nations Financial Group Inc. IA ADV now owns 18,237 shares of the pipeline company’s stock worth $649,000 after buying an additional 298 shares during the period. Perigon Wealth Management LLC boosted its position in shares of Enbridge by 3.7% in the first quarter. Perigon Wealth Management LLC now owns 8,827 shares of the pipeline company’s stock worth $319,000 after buying an additional 314 shares during the period. Finally, RFG Advisory LLC boosted its position in shares of Enbridge by 2.3% in the second quarter. RFG Advisory LLC now owns 14,183 shares of the pipeline company’s stock worth $505,000 after buying an additional 325 shares during the period. 54.60% of the stock is currently owned by institutional investors and hedge funds.

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.