Enbridge Inc (NYSE:ENB) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) have been assigned an average recommendation of “Moderate Buy” from the twelve ratings firms that are covering the firm, MarketBeat.com reports. Six research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $66.50.

ENB has been the topic of several recent research reports. Scotiabank restated an “outperform” rating on shares of Enbridge in a report on Tuesday, July 21st. TD Securities reaffirmed a “hold” rating on shares of Enbridge in a research note on Thursday, July 16th. Canadian Imperial Bank of Commerce reiterated a “neutral” rating on shares of Enbridge in a research report on Monday, May 11th. Weiss Ratings reissued a “buy (b)” rating on shares of Enbridge in a research note on Friday, May 22nd. Finally, Royal Bank Of Canada raised their target price on shares of Enbridge from $76.00 to $79.00 and gave the stock an “outperform” rating in a report on Monday, May 11th.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of ENB. Bogart Wealth LLC raised its holdings in shares of Enbridge by 4.3% in the second quarter. Bogart Wealth LLC now owns 8,904 shares of the pipeline company’s stock worth $483,000 after buying an additional 371 shares during the period. TCV Trust & Wealth Management Inc. boosted its holdings in Enbridge by 2.1% during the 2nd quarter. TCV Trust & Wealth Management Inc. now owns 13,342 shares of the pipeline company’s stock valued at $723,000 after acquiring an additional 277 shares during the period. CRA Financial Services LLC purchased a new position in Enbridge during the 2nd quarter valued at $201,000. Avidian Wealth Enterprises LLC boosted its holdings in Enbridge by 11.0% during the 2nd quarter. Avidian Wealth Enterprises LLC now owns 10,476 shares of the pipeline company’s stock valued at $568,000 after acquiring an additional 1,034 shares during the period. Finally, Trinity Legacy Partners LLC grew its position in Enbridge by 15.2% in the 2nd quarter. Trinity Legacy Partners LLC now owns 5,471 shares of the pipeline company’s stock valued at $309,000 after acquiring an additional 720 shares during the last quarter. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Enbridge Trading Down 0.2%

Shares of NYSE ENB opened at $55.14 on Thursday. Enbridge has a 1-year low of $44.80 and a 1-year high of $58.45. The company has a debt-to-equity ratio of 1.69, a current ratio of 0.81 and a quick ratio of 0.73. The business’s 50 day moving average is $55.64 and its two-hundred day moving average is $53.50. The stock has a market capitalization of $120.43 billion, a P/E ratio of 25.89 and a beta of 0.58.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings data on Friday, May 8th. The pipeline company reported $0.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.02. The business had revenue of $9.37 billion during the quarter, compared to analyst estimates of $8.49 billion. Enbridge had a return on equity of 11.21% and a net margin of 9.83%.During the same period last year, the company earned $1.03 EPS. As a group, research analysts expect that Enbridge will post 2.13 EPS for the current year.

Enbridge Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Friday, August 14th will be given a $0.97 dividend. This represents a $3.88 dividend on an annualized basis and a yield of 7.0%. The ex-dividend date of this dividend is Friday, August 14th. Enbridge’s dividend payout ratio is 133.80%.

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.