Brokerages Set Enbridge Inc (NYSE:ENB) PT at $66.50

Enbridge Inc (NYSE:ENB) (TSE:ENB) has been assigned an average rating of “Moderate Buy” from the thirteen analysts that are covering the stock, Marketbeat.com reports. Six research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $66.50.

A number of research analysts recently weighed in on the stock. BMO Capital Markets reaffirmed a “market perform” rating on shares of Enbridge in a research report on Tuesday, February 17th. Canadian Imperial Bank of Commerce reaffirmed a “neutral” rating on shares of Enbridge in a research report on Monday, May 11th. Citigroup reaffirmed a “buy” rating on shares of Enbridge in a research report on Thursday, February 19th. Raymond James Financial upgraded Enbridge to a “moderate buy” rating in a report on Tuesday, February 17th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Enbridge in a report on Friday, May 22nd.

Enbridge Trading Up 0.3%

NYSE ENB opened at $55.52 on Wednesday. The stock has a market capitalization of $121.23 billion, a price-to-earnings ratio of 26.07 and a beta of 0.58. The stock’s 50 day moving average price is $54.68 and its two-hundred day moving average price is $51.49. The company has a debt-to-equity ratio of 1.69, a quick ratio of 0.73 and a current ratio of 0.81. Enbridge has a 52 week low of $43.59 and a 52 week high of $58.45.

Enbridge (NYSE:ENB) (TSE:ENB) last released its earnings results on Friday, May 8th. The pipeline company reported $0.71 EPS for the quarter, beating the consensus estimate 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 return on equity of 11.21% and a net margin of 9.83%.During the same quarter in the previous year, the business posted $1.03 EPS. As a group, analysts anticipate that Enbridge will post 2.2 earnings per share for the current fiscal year.

Enbridge Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Friday, May 15th were 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 was Friday, May 15th. Enbridge’s dividend payout ratio is presently 133.80%.

Hedge Funds Weigh In On Enbridge

Several hedge funds and other institutional investors have recently made changes to their positions in ENB. Tsfg LLC grew its stake in shares of Enbridge by 329.6% in the third quarter. Tsfg LLC now owns 494 shares of the pipeline company’s stock valued at $25,000 after buying an additional 379 shares in the last quarter. Triumph Capital Management bought a new stake in shares of Enbridge in the 3rd quarter valued at about $26,000. Turning Point Benefit Group Inc. bought a new stake in shares of Enbridge in the 3rd quarter valued at about $28,000. Inspire Investing LLC bought a new stake in shares of Enbridge in the 4th quarter valued at about $29,000. Finally, Garner Asset Management Corp bought a new stake in shares of Enbridge in the 4th quarter valued at about $30,000. 54.60% of the stock is owned by institutional investors.

Enbridge Company Profile

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.