Enbridge Inc (NYSE:ENB) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) have been given an average recommendation of “Moderate Buy” by the thirteen research firms that are presently covering the stock, Marketbeat.com 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 brokers that have issued ratings on the stock in the last year is $66.50.

A number of equities analysts have recently issued reports on ENB shares. Royal Bank Of Canada increased their target price on Enbridge from $76.00 to $79.00 and gave the stock an “outperform” rating in a report on Monday, May 11th. Wall Street Zen lowered Enbridge from a “hold” rating to a “sell” rating in a research note on Saturday, June 27th. Scotiabank reiterated an “outperform” rating on shares of Enbridge in a research report on Monday, May 11th. Canadian Imperial Bank of Commerce reiterated a “neutral” rating on shares of Enbridge in a research note on Monday, May 11th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Enbridge in a report on Friday, May 22nd.

Institutional Trading of Enbridge

Several hedge funds have recently modified their holdings of ENB. SWP Investment Management LLC increased its holdings in shares of Enbridge by 3.9% in the second quarter. SWP Investment Management LLC now owns 39,246 shares of the pipeline company’s stock valued at $2,128,000 after purchasing an additional 1,480 shares in the last quarter. Eastern Bank boosted its position in Enbridge by 73.8% in the 2nd quarter. Eastern Bank now owns 11,550 shares of the pipeline company’s stock valued at $626,000 after buying an additional 4,904 shares during the last quarter. Western Wealth Management LLC increased its stake in shares of Enbridge by 346.8% in the 1st quarter. Western Wealth Management LLC now owns 36,190 shares of the pipeline company’s stock valued at $1,959,000 after buying an additional 28,091 shares during the period. Empowered Funds LLC increased its stake in shares of Enbridge by 24.2% in the 1st quarter. Empowered Funds LLC now owns 110,014 shares of the pipeline company’s stock valued at $5,956,000 after buying an additional 21,442 shares during the period. Finally, LFG Wealth Partners LLC raised its position in shares of Enbridge by 1.8% during the first quarter. LFG Wealth Partners LLC now owns 31,268 shares of the pipeline company’s stock worth $1,693,000 after acquiring an additional 545 shares during the last quarter. Institutional investors and hedge funds own 54.60% of the company’s stock.

Enbridge Price Performance

Shares of Enbridge stock opened at $54.05 on Friday. The firm has a market cap of $118.04 billion, a P/E ratio of 25.37 and a beta of 0.58. The firm’s 50-day simple moving average is $55.27 and its 200-day simple moving average is $52.37. Enbridge has a twelve month low of $43.59 and a twelve month 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.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings results on Friday, May 8th. The pipeline company reported $0.71 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.02. The firm had revenue of $9.37 billion during the quarter, compared to analysts’ expectations of $8.49 billion. Enbridge had a net margin of 9.83% and a return on equity of 11.21%. During the same quarter last year, the company earned $1.03 earnings per share. As a group, research analysts expect that Enbridge will post 2.16 EPS for the current fiscal year.

Enbridge Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Friday, May 15th were given a $0.97 dividend. The ex-dividend date was Friday, May 15th. This represents a $3.88 dividend on an annualized basis and a yield of 7.2%. Enbridge’s payout ratio is 133.80%.

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.