Enbridge Inc (NYSE:ENB) Stock Has Average Target Price of $65.88 According to Analysts

Enbridge Inc (NYSE:ENB) (TSE:ENB) has been given a consensus recommendation of “Moderate Buy” by the fourteen ratings firms that are presently covering the firm, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $65.88.

A number of research firms recently commented on ENB. Wall Street Zen raised shares of Enbridge from a “sell” rating to a “hold” rating in a research report on Sunday, July 12th. Raymond James Financial restated a “market perform” rating on shares of Enbridge in a research note on Tuesday, September 15th. Canadian Imperial Bank of Commerce raised Enbridge from a “neutral” rating to a “sector outperform” rating in a report on Thursday, August 27th. The Goldman Sachs Group began coverage on Enbridge in a research report on Wednesday, September 30th. They set a “neutral” rating and a $50.00 target price on the stock. Finally, BMO Capital Markets raised Enbridge from a “market perform” rating to an “outperform” rating and set a $79.50 target price for the company in a report on Monday, September 14th.

Institutional Investors Weigh In On Enbridge

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Deutsche Bank AG acquired a new stake in Enbridge during the 2nd quarter worth $1,850,502,000. Ontario Teachers Pension Plan Board purchased a new position in Enbridge during the 2nd quarter worth $467,782,000. Auto Owners Insurance Co increased its stake in Enbridge by 4,683.0% in the fourth quarter. Auto Owners Insurance Co now owns 8,566,831 shares of the pipeline company’s stock valued at $40,975,000 after purchasing an additional 8,387,721 shares during the period. Bank of New York Mellon Corp acquired a new position in Enbridge in the second quarter valued at $412,627,000. Finally, Bank of America Corp DE purchased a new stake in shares of Enbridge in the second quarter valued at about $380,896,000. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Enbridge Price Performance

Enbridge stock opened at $46.55 on Tuesday. The company has a current ratio of 0.72, a quick ratio of 0.66 and a debt-to-equity ratio of 1.69. The company has a fifty day simple moving average of $49.49 and a 200-day simple moving average of $53.03. The stock has a market cap of $103.74 billion, a P/E ratio of 24.89, a price-to-earnings-growth ratio of 5.44 and a beta of 0.60. Enbridge has a 12-month low of $45.03 and a 12-month high of $58.45.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its earnings results on Friday, July 31st. The pipeline company reported $0.46 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.03. The business had revenue of $9.70 billion for the quarter, compared to analyst estimates of $8.67 billion. Enbridge had a return on equity of 11.17% and a net margin of 7.20%.During the same quarter last year, the company earned $0.65 EPS. Equities analysts expect that Enbridge will post 2.11 EPS for the current fiscal year.

Enbridge Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Friday, August 14th were given a dividend of C$0.97 per share. The ex-dividend date of this dividend was Friday, August 14th. This represents a $3.88 annualized dividend and a yield of 8.3%. Enbridge’s payout ratio is 147.06%.

About Enbridge

Enbridge Inc (NYSE: ENB) is a Canadian energy infrastructure company that transports and distributes oil, natural gas and renewable energy across North America. Its operations include crude oil and liquids pipelines, natural gas transmission and storage, natural gas distribution and utility services, and renewable power generation. The company serves customers and communities in Canada and the United States.

Enbridge’s liquids pipeline network transports crude oil and other liquid hydrocarbons to refineries, export terminals and market hubs.