Enbridge Inc (NYSE:ENB) Declares Quarterly Dividend of C$0.97

Enbridge Inc (NYSE:ENB) (TSE:ENB) announced a quarterly dividend on Wednesday, May 6th. Stockholders of record on Friday, May 15th will be paid a dividend of 0.97 per share by the pipeline company on Monday, June 1st. This represents a c) dividend on an annualized basis and a dividend yield of 7.2%. The ex-dividend date of this dividend is Friday, May 15th.

Enbridge has decreased its dividend payment by an average of 0.1%annually over the last three years and has increased its dividend annually for the last 2 consecutive years. Enbridge has a payout ratio of 121.9% 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 $2.38 per share next year, which means the company may not be able to cover its $2.78 annual dividend with an expected future payout ratio of 116.8%.

Enbridge Trading Down 1.2%

Shares of ENB traded down $0.68 during mid-day trading on Wednesday, reaching $54.24. The company’s stock had a trading volume of 4,445,865 shares, compared to its average volume of 5,077,712. The stock has a market cap of $118.43 billion, a PE ratio of 23.58 and a beta of 0.59. 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 52 week low of $43.59 and a 52 week high of $55.49. The company’s fifty day moving average price is $53.62 and its two-hundred day moving average price is $50.00.

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 analysts’ consensus estimates of $0.60 by $0.03. The firm 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 in the previous year, the business posted $0.75 EPS. On average, analysts predict that Enbridge will post 2.2 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Raymond James Financial upgraded shares of Enbridge to a “moderate buy” rating in a report on Tuesday, February 17th. JPMorgan Chase & Co. lowered shares of Enbridge from an “overweight” rating to a “neutral” rating in a report on Tuesday, January 27th. TD Securities lowered shares of Enbridge from a “buy” rating to a “hold” rating in a report on Tuesday, February 17th. Wall Street Zen lowered shares of Enbridge from a “hold” rating to a “sell” rating in a report on Saturday, April 4th. Finally, BMO Capital Markets restated a “market perform” rating on shares of Enbridge in a report on Tuesday, February 17th. Seven investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $65.00.

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.