Enbridge Inc (NYSE:ENB) Stock Has Average Target Price of $65.88

Enbridge Inc (NYSE:ENB) (TSE:ENB) has received a consensus rating of “Moderate Buy” from the fifteen analysts that are currently covering the firm, Marketbeat Ratings reports. Five research analysts have rated the stock with a hold recommendation, nine have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $65.88.

Several analysts recently weighed in on the company. Weiss Ratings restated a “buy (b)” rating on shares of Enbridge in a research report on Wednesday, August 19th. Canadian Imperial Bank of Commerce upgraded Enbridge from a “neutral” rating to a “sector outperform” rating in a research report on Thursday, August 27th. Wall Street Zen raised Enbridge from a “sell” rating to a “hold” rating in a research note on Sunday, July 12th. Royal Bank Of Canada boosted their price objective on Enbridge from $79.00 to $84.00 and gave the stock an “outperform” rating in a research report on Monday, August 3rd. Finally, Wolfe Research set a $50.00 price target on shares of Enbridge in a research note on Tuesday, August 4th.

Enbridge Price Performance

Shares of ENB opened at $46.92 on Tuesday. The company has a current ratio of 0.72, a quick ratio of 0.66 and a debt-to-equity ratio of 1.69. The company’s fifty day simple moving average is $49.19 and its 200 day simple moving average is $52.92. The company has a market cap of $104.57 billion, a price-to-earnings ratio of 25.09, a PEG ratio of 5.53 and a beta of 0.60. Enbridge has a 1-year low of $45.03 and a 1-year high of $58.45.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings data on Friday, July 31st. The pipeline company reported $0.46 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $0.03. The firm had revenue of $9.70 billion for the quarter, compared to analyst estimates of $8.67 billion. Enbridge had a return on equity of 11.17% and a net margin of 7.20%. During the same period in the prior year, the firm posted $0.65 EPS. On average, research analysts forecast that Enbridge will post 2.11 earnings per share for the current fiscal year.

Enbridge Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 1st. Investors of record on Friday, August 14th were issued a C$0.97 dividend. This represents a $3.88 dividend on an annualized basis and a dividend yield of 8.3%. The ex-dividend date was Friday, August 14th. Enbridge’s dividend payout ratio (DPR) is currently 147.06%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ENB. GK Wealth Management LLC purchased a new position in shares of Enbridge during the 3rd quarter worth approximately $25,000. Arlington Trust Co LLC raised its position in shares of Enbridge by 114.6% in the 2nd quarter. Arlington Trust Co LLC now owns 500 shares of the pipeline company’s stock worth $27,000 after purchasing an additional 267 shares during the last quarter. Quintet Private Bank Europe S.A. lifted its stake in shares of Enbridge by 100.0% in the third quarter. Quintet Private Bank Europe S.A. now owns 600 shares of the pipeline company’s stock worth $28,000 after buying an additional 300 shares in the last quarter. City Holding Co. lifted its position in Enbridge by 121.5% in the 2nd quarter. City Holding Co. now owns 649 shares of the pipeline company’s stock valued at $35,000 after acquiring an additional 356 shares in the last quarter. Finally, Steigerwald Gordon & Koch Inc. boosted its position in shares of Enbridge by 99.7% during the first quarter. Steigerwald Gordon & Koch Inc. now owns 691 shares of the pipeline company’s stock valued at $37,000 after buying an additional 345 shares during the last quarter. 54.60% of the stock is currently owned by hedge funds and other institutional investors.

About Enbridge

Enbridge Inc (NYSE: ENB) is a Canadian energy infrastructure company that transports and distributes oil, natural gas and renewable energy across North America. Its operations include crude oil and liquids pipelines, natural gas transmission and storage, natural gas distribution and utility services, and renewable power generation. The company serves customers and communities in Canada and the United States.

Enbridge’s liquids pipeline network transports crude oil and other liquid hydrocarbons to refineries, export terminals and market hubs.