Enbridge Inc (NYSE:ENB) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) have earned a consensus recommendation of “Moderate Buy” from the thirteen brokerages that are covering the stock, MarketBeat reports. Six analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $66.50.

A number of research firms have recently commented on ENB. TD Securities cut shares of Enbridge from a “buy” rating to a “hold” rating in a report on Tuesday, February 17th. Raymond James Financial upgraded shares of Enbridge to a “moderate buy” rating in a report on Tuesday, February 17th. Royal Bank Of Canada upped their price target on shares of Enbridge from $76.00 to $79.00 and gave the stock an “outperform” rating in a report on Monday. JPMorgan Chase & Co. cut shares of Enbridge from an “overweight” rating to a “neutral” rating in a report on Tuesday, January 27th. Finally, Wall Street Zen upgraded shares of Enbridge from a “sell” rating to a “hold” rating in a report on Saturday.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in Enbridge by 2.1% during the 4th quarter. Vanguard Group Inc. now owns 100,364,993 shares of the pipeline company’s stock worth $4,802,766,000 after acquiring an additional 2,067,516 shares in the last quarter. TD Asset Management Inc grew its holdings in Enbridge by 0.3% during the 3rd quarter. TD Asset Management Inc now owns 40,021,291 shares of the pipeline company’s stock worth $2,019,473,000 after acquiring an additional 137,897 shares in the last quarter. Norges Bank bought a new position in Enbridge during the 4th quarter worth about $1,195,559,000. Geode Capital Management LLC grew its holdings in Enbridge by 7.1% during the 4th quarter. Geode Capital Management LLC now owns 21,421,826 shares of the pipeline company’s stock worth $1,045,172,000 after acquiring an additional 1,415,995 shares in the last quarter. Finally, Legal & General Group Plc grew its holdings in Enbridge by 4.6% during the 4th quarter. Legal & General Group Plc now owns 19,677,864 shares of the pipeline company’s stock worth $942,806,000 after acquiring an additional 858,323 shares in the last quarter. 54.60% of the stock is currently owned by institutional investors.

Enbridge Trading Down 1.6%

NYSE ENB opened at $55.31 on Friday. The company’s 50-day moving average price is $53.88 and its 200-day moving average price is $50.40. The company has a current ratio of 0.81, a quick ratio of 0.55 and a debt-to-equity ratio of 1.69. The stock has a market cap of $120.79 billion, a PE ratio of 25.97 and a beta of 0.59. Enbridge has a 12 month low of $43.59 and a 12 month high of $56.22.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings results on Friday, May 8th. The pipeline company reported $0.71 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.02. The firm had revenue of $9.37 billion for the quarter, compared to analysts’ expectations of $8.49 billion. Enbridge had a net margin of 9.83% and a return on equity of 11.21%. During the same period in the prior year, the business posted $1.03 earnings per share. Equities research analysts forecast that Enbridge will post 2.17 earnings per share for the current year.

Enbridge Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Friday, May 15th will be issued a dividend of $0.97 per share. This represents a $3.88 annualized dividend and a yield of 7.0%. The ex-dividend date is Friday, May 15th. Enbridge’s dividend payout ratio is presently 133.80%.

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.