Enbridge Inc (ENB) To Go Ex-Dividend on August 14th

Enbridge Inc (NYSE:ENB) (TSE:ENB) declared a quarterly dividend on Monday, July 27th. Stockholders of record on Friday, August 14th will be paid a dividend of 0.97 per share by the pipeline company on Tuesday, September 1st. This represents a c) annualized dividend and a dividend yield of 7.0%. The ex-dividend date of this dividend is Friday, August 14th.

Enbridge has decreased its dividend payment by an average of 0.1%per year over the last three years and has increased its dividend every year for the last 2 years. Enbridge has a payout ratio of 125.0% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Enbridge to earn $2.35 per share next year, which means the company may not be able to cover its $2.85 annual dividend with an expected future payout ratio of 121.3%.

Enbridge Stock Performance

Shares of ENB stock opened at $55.31 on Wednesday. Enbridge has a 52 week low of $44.58 and a 52 week high of $58.45. The company has a market capitalization of $120.79 billion, a price-to-earnings ratio of 25.97 and a beta of 0.58. The company has a 50-day simple moving average of $55.68 and a 200 day simple moving average of $53.43. The company has a debt-to-equity ratio of 1.69, a quick ratio of 0.73 and a current ratio of 0.81.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings data on Friday, May 8th. The pipeline company reported $0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.02. The company had revenue of $9.37 billion during the quarter, compared to analysts’ expectations of $8.49 billion. Enbridge had a return on equity of 11.21% and a net margin of 9.83%.During the same quarter in the previous year, the company posted $1.03 earnings per share. On average, sell-side analysts predict that Enbridge will post 2.13 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Scotiabank restated an “outperform” rating on shares of Enbridge in a research report on Tuesday, July 21st. Wall Street Zen upgraded Enbridge from a “sell” rating to a “hold” rating in a research report on Sunday, July 12th. Royal Bank Of Canada boosted their price target on Enbridge from $76.00 to $79.00 and gave the company an “outperform” rating in a research note on Monday, May 11th. TD Securities reaffirmed a “hold” rating on shares of Enbridge in a research report on Thursday, July 16th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Enbridge in a research note on Friday, May 22nd. Six investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat, Enbridge has an average rating of “Moderate Buy” and a consensus target price of $66.50.

Enbridge Company Profile

Enbridge Inc is a Calgary, Alberta–based energy infrastructure company that develops, owns and operates a diversified portfolio of energy transportation, distribution and generation assets. Its core activities include the operation of crude oil and liquids pipelines, natural gas transmission and distribution systems, and energy storage facilities. In addition to midstream transportation and storage, Enbridge has expanded into renewable power generation and energy transition projects, including wind, solar and utility-scale generation assets.

The company serves customers primarily in Canada and the United States and has interests in other international energy projects.