Enbridge Inc. (NYSE:ENB) Declares Dividend Increase – $0.68 Per Share

Enbridge Inc. (NYSE:ENB) (TSE:ENB) declared a quarterly dividend on Wednesday, October 30th, Zacks reports. Stockholders of record on Friday, November 15th will be given a dividend of 0.676 per share by the pipeline company on Sunday, December 1st. This represents a $2.70 annualized dividend and a dividend yield of 6.66%. The ex-dividend date of this dividend is Friday, November 15th. This is a boost from Enbridge’s previous quarterly dividend of $0.67.

Enbridge has increased its dividend by an average of 3.6% annually over the last three years. Enbridge has a dividend payout ratio of 123.2% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Enbridge to earn $2.12 per share next year, which means the company may not be able to cover its $2.71 annual dividend with an expected future payout ratio of 127.8%.

Enbridge Stock Up 0.5 %

Shares of ENB opened at $40.60 on Thursday. The company has a quick ratio of 0.68, a current ratio of 0.77 and a debt-to-equity ratio of 1.34. Enbridge has a 52-week low of $31.68 and a 52-week high of $42.16. The company has a market cap of $86.64 billion, a PE ratio of 20.61, a P/E/G ratio of 4.00 and a beta of 0.93. The business has a fifty day moving average of $40.69 and a 200 day moving average of $37.87.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings data on Friday, August 2nd. The pipeline company reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates of $0.45 by $0.13. Enbridge had a net margin of 13.31% and a return on equity of 10.07%. The company had revenue of $8.29 billion for the quarter, compared to analyst estimates of $4.28 billion. During the same period in the prior year, the company posted $0.51 EPS. On average, sell-side analysts expect that Enbridge will post 2.08 EPS for the current year.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Jefferies Financial Group downgraded Enbridge from a “buy” rating to a “hold” rating in a research report on Monday, September 30th. Morgan Stanley started coverage on shares of Enbridge in a research report on Friday, October 25th. They set an “equal weight” rating on the stock.

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.