Enbridge (NYSE:ENB) Now Covered by Analysts at Bank of America

Bank of America began coverage on shares of Enbridge (NYSE:ENB) (TSE:ENB) in a research report report published on Tuesday, January 9th, The Fly reports. The brokerage issued a neutral rating on the pipeline company’s stock.

ENB has been the topic of a number of other research reports. Zacks Investment Research downgraded Enbridge from a hold rating to a sell rating in a research report on Tuesday, October 31st. GMP Securities downgraded Enbridge from a buy rating to a hold rating in a research report on Tuesday, October 17th. Morgan Stanley decreased their target price on Enbridge from $43.00 to $41.00 and set an equal weight rating on the stock in a research report on Friday, November 17th. Finally, Canaccord Genuity restated a buy rating and issued a $54.00 target price on shares of Enbridge in a research report on Thursday, November 30th. One analyst has rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company’s stock. The company has an average rating of Hold and an average price target of $52.00.

Shares of Enbridge (NYSE ENB) traded up $0.04 during mid-day trading on Tuesday, hitting $39.78. The stock had a trading volume of 1,842,700 shares, compared to its average volume of 2,250,450. The company has a quick ratio of 0.50, a current ratio of 0.64 and a debt-to-equity ratio of 1.06. The firm has a market capitalization of $67,170.00, a price-to-earnings ratio of 25.34, a PEG ratio of 2.86 and a beta of 0.64. Enbridge has a fifty-two week low of $34.39 and a fifty-two week high of $44.51.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings data on Thursday, November 2nd. The pipeline company reported $0.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.36 by $0.03. The business had revenue of $9.23 billion for the quarter, compared to analyst estimates of $8.54 billion. Enbridge had a return on equity of 5.62% and a net margin of 7.49%. During the same period in the prior year, the company earned $0.47 earnings per share. equities analysts expect that Enbridge will post 1.51 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 1st. Stockholders of record on Thursday, February 15th will be paid a $0.5278 dividend. The ex-dividend date is Wednesday, February 14th. This is a boost from Enbridge’s previous quarterly dividend of $0.47. This represents a $2.11 dividend on an annualized basis and a dividend yield of 5.31%. Enbridge’s payout ratio is presently 122.29%.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Capital World Investors lifted its holdings in Enbridge by 8.2% during the 2nd quarter. Capital World Investors now owns 149,378,598 shares of the pipeline company’s stock worth $5,948,565,000 after buying an additional 11,294,003 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec lifted its holdings in Enbridge by 0.6% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 46,491,107 shares of the pipeline company’s stock worth $1,945,188,000 after buying an additional 279,597 shares during the last quarter. TD Asset Management Inc. lifted its holdings in Enbridge by 3.4% during the 3rd quarter. TD Asset Management Inc. now owns 44,896,840 shares of the pipeline company’s stock worth $1,871,055,000 after buying an additional 1,495,767 shares during the last quarter. Capital International Investors lifted its holdings in Enbridge by 7.8% during the 3rd quarter. Capital International Investors now owns 41,164,593 shares of the pipeline company’s stock worth $1,721,048,000 after buying an additional 2,984,467 shares during the last quarter. Finally, Vanguard Group Inc. lifted its holdings in Enbridge by 4.5% during the 2nd quarter. Vanguard Group Inc. now owns 40,741,765 shares of the pipeline company’s stock worth $1,621,930,000 after buying an additional 1,758,679 shares during the last quarter. 62.16% of the stock is owned by institutional investors and hedge funds.

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Enbridge Company Profile

Enbridge Inc is a Canada-based energy transportation and distribution company. The Company is engaged in delivering energy. It operates through five segments: Liquids Pipelines, Gas Distribution, Gas Pipelines and Processing, Green Power and Transmission, and Energy Services. Liquids Pipelines consists of common carrier and contract crude oil, natural gas liquids (NGL), and refined products pipelines and terminals, including Canadian Mainline, Lakehead Pipeline System, Mid-Continent and Gulf Coast and Regional Oil Sands System.

The Fly

Analyst Recommendations for Enbridge (NYSE:ENB)

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