Enbridge Inc (NYSE:ENB) Receives $65.00 Consensus PT from Brokerages

Enbridge Inc (NYSE:ENB) (TSE:ENB) has received a consensus recommendation of “Moderate Buy” from the thirteen analysts that are presently covering the stock, MarketBeat Ratings reports. Six research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $65.00.

ENB has been the topic of several research analyst reports. BMO Capital Markets reaffirmed a “market perform” rating on shares of Enbridge in a research report on Tuesday, February 17th. Weiss Ratings upgraded Enbridge from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, February 9th. Raymond James Financial upgraded shares of Enbridge to a “moderate buy” rating in a research report on Tuesday, February 17th. Royal Bank Of Canada lifted their price target on shares of Enbridge from $72.00 to $76.00 and gave the company an “outperform” rating in a report on Tuesday, February 17th. Finally, JPMorgan Chase & Co. lowered shares of Enbridge from an “overweight” rating to a “neutral” rating in a research note on Tuesday, January 27th.

Institutional Investors Weigh In On Enbridge

Large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in shares of Enbridge by 2.1% during the fourth quarter. Vanguard Group Inc. now owns 100,364,993 shares of the pipeline company’s stock worth $4,802,766,000 after acquiring an additional 2,067,516 shares during the last quarter. TD Asset Management Inc boosted its stake in Enbridge by 0.3% during the 3rd quarter. TD Asset Management Inc now owns 40,021,291 shares of the pipeline company’s stock valued at $2,019,473,000 after purchasing an additional 137,897 shares during the period. Norges Bank bought a new position in Enbridge in the 4th quarter worth about $1,195,559,000. Geode Capital Management LLC increased its stake in shares of Enbridge by 7.1% in the fourth quarter. Geode Capital Management LLC now owns 21,421,826 shares of the pipeline company’s stock valued at $1,045,172,000 after purchasing an additional 1,415,995 shares during the period. Finally, Legal & General Group Plc raised its holdings in shares of Enbridge by 4.6% during the fourth quarter. Legal & General Group Plc now owns 19,677,864 shares of the pipeline company’s stock valued at $942,806,000 after buying an additional 858,323 shares during the last quarter. 54.60% of the stock is owned by institutional investors and hedge funds.

Enbridge Stock Up 1.8%

Shares of NYSE:ENB opened at $53.17 on Monday. The firm has a market cap of $116.00 billion, a PE ratio of 23.12 and a beta of 0.67. The company has a fifty day simple moving average of $48.95 and a 200 day simple moving average of $48.37. The company has a current ratio of 0.63, a quick ratio of 0.55 and a debt-to-equity ratio of 1.70. Enbridge has a 12-month low of $39.73 and a 12-month high of $54.19.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings data on Friday, February 13th. The pipeline company reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.03. The company had revenue of $17.18 billion during the quarter, compared to analyst estimates of $9.10 billion. Enbridge had a net margin of 11.30% and a return on equity of 11.19%. During the same period last year, the business earned $0.75 EPS. On average, equities research analysts anticipate that Enbridge will post 2.14 EPS for the current fiscal year.

Enbridge Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Sunday, March 1st. Investors of record on Tuesday, February 17th were issued a $0.97 dividend. This is a positive change from Enbridge’s previous quarterly dividend of $0.94. The ex-dividend date of this dividend was Tuesday, February 17th. This represents a $3.88 annualized dividend and a dividend yield of 7.3%. Enbridge’s dividend payout ratio (DPR) is 120.87%.

About Enbridge

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.