Enbridge Inc. (TSE:ENB) Receives Average Recommendation of “Hold” from Brokerages

Shares of Enbridge Inc. (TSE:ENB) (NYSE:ENB) have received an average recommendation of “Hold” from the twelve brokerages that are currently covering the company, Marketbeat.com reports. Seven research analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is C$53.67.

ENB has been the topic of several research analyst reports. National Bankshares upped their target price on shares of Enbridge from C$53.00 to C$57.00 and gave the company a “sector perform” rating in a research note on Friday. CIBC raised their target price on shares of Enbridge from C$57.00 to C$59.00 in a report on Monday, July 15th. Scotiabank downgraded shares of Enbridge from a “strong-buy” rating to a “hold” rating in a research report on Friday, June 14th. JPMorgan Chase & Co. increased their price target on Enbridge from C$56.00 to C$57.00 in a report on Wednesday, August 7th. Finally, Wells Fargo & Company lifted their price objective on Enbridge from C$45.00 to C$48.00 in a report on Tuesday, June 4th.

Enbridge Stock Performance

ENB stock opened at C$53.60 on Friday. The stock’s 50 day simple moving average is C$50.48 and its 200 day simple moving average is C$49.12. The company has a current ratio of 0.76, a quick ratio of 0.44 and a debt-to-equity ratio of 131.26. Enbridge has a 12-month low of C$42.75 and a 12-month high of C$54.49. The stock has a market capitalization of C$116.85 billion, a PE ratio of 20.62, a price-to-earnings-growth ratio of 0.75 and a beta of 0.91.

Enbridge (TSE:ENB) (NYSE:ENB) last posted its quarterly earnings results on Friday, August 2nd. The company reported C$0.58 earnings per share for the quarter, missing the consensus estimate of C$0.62 by C($0.04). Enbridge had a return on equity of 8.57% and a net margin of 13.54%. The business had revenue of C$11.34 billion during the quarter, compared to analysts’ expectations of C$5.86 billion. As a group, research analysts forecast that Enbridge will post 2.8031746 earnings per share for the current fiscal year.

Enbridge Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Sunday, September 1st. Shareholders of record on Thursday, August 15th will be paid a $0.915 dividend. This represents a $3.66 annualized dividend and a yield of 6.83%. The ex-dividend date of this dividend is Thursday, August 15th. Enbridge’s payout ratio is currently 140.77%.

Insider Activity

In other news, Director Steven Walter Williams acquired 18,600 shares of the firm’s stock in a transaction dated Tuesday, August 13th. The shares were acquired at an average cost of C$53.74 per share, with a total value of C$999,564.00. Company insiders own 0.10% of the company’s stock.

Enbridge Company Profile

Enbridge Inc, together with its subsidiaries, operates as an energy infrastructure company. The company operates through five segments: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution and Storage, Renewable Power Generation, and Energy Services. The Liquids Pipelines segment operates pipelines and related terminals to transport various grades of crude oil and other liquid hydrocarbons in Canada and the United States.