Enbridge Inc (NYSE:ENB) Given Average Rating of “Moderate Buy” by Analysts

Shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) have been assigned an average rating of “Moderate Buy” from the thirteen brokerages that are presently covering the stock, MarketBeat reports. Six analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $66.50.

A number of brokerages have issued reports on ENB. Wall Street Zen lowered Enbridge from a “hold” rating to a “sell” rating in a research note on Sunday, May 24th. Weiss Ratings reiterated a “buy (b)” rating on shares of Enbridge in a research note on Friday, May 22nd. Canadian Imperial Bank of Commerce reissued a “neutral” rating on shares of Enbridge in a report on Monday, May 11th. BMO Capital Markets restated a “market perform” rating on shares of Enbridge in a research report on Tuesday, February 17th. Finally, Royal Bank Of Canada raised their price objective on Enbridge from $76.00 to $79.00 and gave the company an “outperform” rating in a research report on Monday, May 11th.

Enbridge Trading Up 2.6%

Shares of ENB stock opened at $56.34 on Wednesday. Enbridge has a 52-week low of $43.59 and a 52-week high of $58.45. The company has a debt-to-equity ratio of 1.69, a quick ratio of 0.73 and a current ratio of 0.81. The firm has a market capitalization of $123.04 billion, a PE ratio of 26.45 and a beta of 0.58. The stock has a fifty day simple moving average of $54.47 and a two-hundred day simple moving average of $51.16.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings results 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. Enbridge had a return on equity of 11.21% and a net margin of 9.83%.The business had revenue of $9.37 billion during the quarter, compared to analyst estimates of $8.49 billion. During the same quarter in the prior year, the business posted $1.03 EPS. On average, analysts predict that Enbridge will post 2.18 EPS for the current fiscal year.

Enbridge Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Friday, May 15th were given a dividend of $0.97 per share. The ex-dividend date was Friday, May 15th. This represents a $3.88 dividend on an annualized basis and a dividend yield of 6.9%. Enbridge’s dividend payout ratio (DPR) is presently 133.80%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Tsfg LLC grew its position in shares of Enbridge by 329.6% during the third quarter. Tsfg LLC now owns 494 shares of the pipeline company’s stock valued at $25,000 after purchasing an additional 379 shares in the last quarter. Triumph Capital Management purchased a new position in shares of Enbridge during the third quarter valued at about $26,000. Turning Point Benefit Group Inc. purchased a new position in shares of Enbridge during the third quarter valued at about $28,000. Inspire Investing LLC purchased a new position in shares of Enbridge during the fourth quarter valued at about $29,000. Finally, Garner Asset Management Corp purchased a new position in shares of Enbridge during the fourth quarter valued at about $30,000. Hedge funds and other institutional investors own 54.60% of the company’s stock.

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.