Enbridge Inc. (NYSE:ENB) Given Average Rating of “Reduce” by Brokerages

Enbridge Inc. (NYSE:ENB) (TSE:ENB) has been given a consensus rating of “Reduce” by the six analysts that are currently covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating on the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $51.50.

Separately, Jefferies Financial Group lowered shares of Enbridge from a “buy” rating to a “hold” rating in a research note on Monday.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Steward Partners Investment Advisory LLC grew its stake in Enbridge by 8.5% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 45,488 shares of the pipeline company’s stock worth $1,638,000 after buying an additional 3,579 shares during the last quarter. Fiduciary Trust Co bought a new position in shares of Enbridge during the fourth quarter worth about $217,000. Jones Financial Companies Lllp increased its holdings in shares of Enbridge by 34.0% in the 4th quarter. Jones Financial Companies Lllp now owns 30,656 shares of the pipeline company’s stock worth $1,104,000 after acquiring an additional 7,776 shares during the period. The Manufacturers Life Insurance Company lifted its position in Enbridge by 15.2% in the 4th quarter. The Manufacturers Life Insurance Company now owns 21,932,752 shares of the pipeline company’s stock valued at $790,785,000 after purchasing an additional 2,895,742 shares during the last quarter. Finally, CIBC Asset Management Inc boosted its stake in Enbridge by 7.9% during the 4th quarter. CIBC Asset Management Inc now owns 22,358,849 shares of the pipeline company’s stock valued at $807,469,000 after purchasing an additional 1,641,245 shares during the period. 54.60% of the stock is currently owned by institutional investors.

Enbridge Stock Performance

NYSE:ENB opened at $40.71 on Monday. The firm has a 50-day moving average of $39.26 and a two-hundred day moving average of $36.99. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.77 and a quick ratio of 0.68. The stock has a market cap of $86.87 billion, a P/E ratio of 20.66, a PEG ratio of 3.93 and a beta of 0.94. Enbridge has a 1-year low of $31.03 and a 1-year high of $41.22.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings data on Friday, August 2nd. The pipeline company reported $0.58 earnings per share for the quarter, beating analysts’ consensus estimates of $0.45 by $0.13. Enbridge had a return on equity of 10.07% and a net margin of 13.31%. The firm had revenue of $8.29 billion during the quarter, compared to analyst estimates of $4.28 billion. During the same quarter last year, the firm earned $0.51 EPS. On average, research analysts expect that Enbridge will post 2.08 earnings per share for the current fiscal year.

Enbridge Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Thursday, August 15th were paid a dividend of $0.669 per share. This represents a $2.68 annualized dividend and a yield of 6.57%. The ex-dividend date of this dividend was Thursday, August 15th. Enbridge’s dividend payout ratio (DPR) is presently 134.01%.

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.