Enbridge (TSE:ENB) Cut to Hold at TD Securities

TD Securities downgraded shares of Enbridge (TSE:ENB) (NYSE:ENB) from a buy rating to a hold rating in a research report released on Tuesday, Marketbeat reports. TD Securities currently has C$72.00 price target on the stock, up from their previous price target of C$70.00.

A number of other research analysts have also recently weighed in on ENB. Scotiabank raised Enbridge from a “sector perform” rating to a “sector outperform” rating and lifted their price objective for the company from C$70.00 to C$73.00 in a research report on Friday, January 16th. Royal Bank Of Canada raised their target price on shares of Enbridge from C$67.00 to C$72.00 in a research note on Monday, November 10th. Raymond James Financial lifted their price target on shares of Enbridge from C$74.00 to C$76.00 in a report on Monday, November 10th. Jefferies Financial Group reduced their price objective on shares of Enbridge from C$73.00 to C$71.00 in a research note on Tuesday, December 23rd. Finally, BMO Capital Markets raised their price objective on shares of Enbridge from C$67.00 to C$70.00 in a research report on Thursday, December 4th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat, Enbridge presently has an average rating of “Moderate Buy” and a consensus price target of C$73.31.

Enbridge Stock Up 1.3%

Shares of ENB stock opened at C$70.65 on Tuesday. Enbridge has a 12 month low of C$56.51 and a 12 month high of C$73.71. The stock has a market cap of C$154.15 billion, a P/E ratio of 21.94, a P/E/G ratio of 1.72 and a beta of 0.95. The company has a current ratio of 0.62, a quick ratio of 0.44 and a debt-to-equity ratio of 144.86. The company has a 50 day simple moving average of C$66.29 and a two-hundred day simple moving average of C$66.66.

Enbridge (TSE:ENB) (NYSE:ENB) last issued its quarterly earnings data on Friday, February 13th. The company reported C$0.88 earnings per share (EPS) for the quarter. Enbridge had a net margin of 13.75% and a return on equity of 10.30%. The firm had revenue of C$17.18 billion during the quarter. On average, research analysts expect that Enbridge will post 3.511912 earnings per share for the current year.

Enbridge Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Sunday, March 1st. Shareholders of record on Sunday, March 1st will be issued a dividend of $0.97 per share. The ex-dividend date is Tuesday, February 17th. This represents a $3.88 annualized dividend and a yield of 5.5%. This is a boost from Enbridge’s previous quarterly dividend of $0.94. Enbridge’s dividend payout ratio (DPR) is 117.08%.

Enbridge Company Profile

At Enbridge, we safely connect millions of people to the energy they rely on every day, fueling quality of life through our North American natural gas, oil and renewable power networks and our growing European offshore wind portfolio. We’re investing in modern energy delivery infrastructure to sustain access to secure, affordable energy and building on more than a century of operating conventional energy infrastructure and two decades of experience in renewable power. We’re advancing new technologies including hydrogen, renewable natural gas, and carbon capture and storage.