GMP Securities lowered shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) from a buy rating to a hold rating in a report issued on Tuesday, October 17th, The Fly reports.
Several other brokerages have also issued reports on ENB. J P Morgan Chase & Co reaffirmed a neutral rating on shares of Enbridge in a report on Friday, June 23rd. Morgan Stanley restated an equal weight rating and issued a $44.00 price objective (down previously from $45.00) on shares of Enbridge in a research report on Friday, July 14th. Zacks Investment Research downgraded shares of Enbridge from a hold rating to a sell rating in a research report on Tuesday, July 11th. Finally, BidaskClub raised shares of Enbridge from a strong sell rating to a sell rating in a research note on Saturday, June 24th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company. Enbridge has a consensus rating of Hold and an average target price of $56.00.
Enbridge (NYSE ENB) traded up $0.13 on Tuesday, reaching $36.82. The company’s stock had a trading volume of 2,419,042 shares, compared to its average volume of 2,353,124. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.64 and a quick ratio of 0.50. Enbridge has a one year low of $36.49 and a one year high of $44.51. The stock has a market cap of $60,672.38, a P/E ratio of 23.83, a P/E/G ratio of 2.11 and a beta of 0.65.
Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings results on Thursday, November 2nd. The pipeline company reported $0.39 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.03. Enbridge had a return on equity of 5.62% and a net margin of 7.49%. The company had revenue of $9.23 billion for the quarter, compared to analysts’ expectations of $8.54 billion. During the same period in the prior year, the firm earned $0.47 earnings per share. equities analysts anticipate that Enbridge will post 1.65 EPS for the current year.
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The company also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Wednesday, November 15th will be paid a $0.474 dividend. This is a boost from Enbridge’s previous quarterly dividend of $0.33. This represents a $1.90 annualized dividend and a yield of 5.15%. The ex-dividend date is Tuesday, November 14th. Enbridge’s payout ratio is presently 123.90%.
A number of hedge funds have recently added to or reduced their stakes in the business. Capital World Investors grew its stake in Enbridge by 8.2% in the 2nd quarter. Capital World Investors now owns 149,378,598 shares of the pipeline company’s stock worth $5,948,565,000 after acquiring an additional 11,294,003 shares during the period. Caisse DE Depot ET Placement DU Quebec grew its stake in Enbridge by 10.9% in the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 43,464,138 shares of the pipeline company’s stock worth $1,818,540,000 after acquiring an additional 4,256,369 shares during the period. TD Asset Management Inc. grew its stake in Enbridge by 4.6% in the 2nd quarter. TD Asset Management Inc. now owns 43,401,073 shares of the pipeline company’s stock worth $1,726,420,000 after acquiring an additional 1,909,405 shares during the period. Vanguard Group Inc. grew its stake in Enbridge by 4.5% in the 2nd quarter. Vanguard Group Inc. now owns 40,741,765 shares of the pipeline company’s stock worth $1,621,930,000 after acquiring an additional 1,758,679 shares during the period. Finally, Capital International Investors grew its stake in Enbridge by 2.1% in the 2nd quarter. Capital International Investors now owns 38,180,126 shares of the pipeline company’s stock worth $1,520,465,000 after acquiring an additional 788,202 shares during the period. 61.49% of the stock is owned by hedge funds and other institutional investors.
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.
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