Enbridge Inc. (NYSE:ENB) Given Average Recommendation of “Buy” by Brokerages

Enbridge Inc. (NYSE:ENB) (TSE:ENB) has earned an average rating of “Buy” from the sixteen research firms that are currently covering the company, Marketbeat Ratings reports. Six research analysts have rated the stock with a hold rating and nine have issued a buy rating on the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $53.40.

A number of analysts have recently issued reports on the stock. Wells Fargo & Company increased their price target on shares of Enbridge from $53.00 to $56.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 29th. TD Securities increased their price target on shares of Enbridge from C$55.00 to C$57.00 and gave the stock a “buy” rating in a research report on Monday, November 8th. Tudor Pickering reissued a “buy” rating and issued a C$54.00 price target on shares of Enbridge in a research report on Friday, November 5th. Credit Suisse Group lowered shares of Enbridge from an “outperform” rating to a “neutral” rating and set a $56.00 price target for the company. in a research report on Monday, October 25th. Finally, Morgan Stanley lowered shares of Enbridge from an “overweight” rating to an “equal weight” rating and set a $60.00 price target for the company. in a research report on Friday, January 7th.

NYSE:ENB opened at $41.66 on Friday. Enbridge has a twelve month low of $33.41 and a twelve month high of $43.35. The company has a current ratio of 0.55, a quick ratio of 0.46 and a debt-to-equity ratio of 1.14. The company has a 50-day moving average of $39.17 and a 200-day moving average of $39.82. The firm has a market cap of $84.40 billion, a price-to-earnings ratio of 18.77, a price-to-earnings-growth ratio of 2.84 and a beta of 0.86.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings data on Friday, November 5th. The pipeline company reported $0.47 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.46 by $0.01. Enbridge had a net margin of 13.47% and a return on equity of 9.76%. The company had revenue of $9.11 billion during the quarter, compared to analyst estimates of $9.68 billion. During the same quarter last year, the firm posted $0.36 EPS. On average, research analysts forecast that Enbridge will post 2.23 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 1st. Shareholders of record on Tuesday, February 15th will be issued a dividend of $0.673 per share. The ex-dividend date is Monday, February 14th. This represents a $2.69 annualized dividend and a yield of 6.46%. Enbridge’s dividend payout ratio (DPR) is presently 120.27%.

Hedge funds have recently made changes to their positions in the business. Consolidated Planning Corp acquired a new stake in shares of Enbridge in the third quarter worth $25,000. Isthmus Partners LLC acquired a new stake in shares of Enbridge in the second quarter worth $26,000. Mascoma Wealth Management LLC acquired a new stake in shares of Enbridge in the third quarter worth $26,000. BDO Wealth Advisors LLC grew its stake in shares of Enbridge by 222.4% in the second quarter. BDO Wealth Advisors LLC now owns 793 shares of the pipeline company’s stock worth $32,000 after acquiring an additional 547 shares during the last quarter. Finally, PSI Advisors LLC acquired a new stake in shares of Enbridge in the third quarter worth $33,000. Institutional investors own 48.35% of the company’s stock.

Enbridge Company Profile

Enbridge, Inc engages in the provision of gas and oil businesses. It operates through the following segments: Liquid Pipelines, Gas Distribution & Storage, Gas Transmission & Midstream, Renewable Power Generation, and Energy Services. The Liquids Pipelines segment consists of common carrier and contract crude oil, natural gas liquids and refined products pipelines and terminals in Canada and U.S., including Canadian Mainline, Regional Oil Sands System, Southern Lights Pipeline, Spearhead Pipeline, Seaway Crude Pipeline interest, and other feeder pipelines.

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Analyst Recommendations for Enbridge (NYSE:ENB)

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