Enbridge Inc (NYSE:ENB) Shares Set to Pay Quarterly Dividend of C$0.97

Enbridge Inc (NYSE:ENB) (TSE:ENB) declared a quarterly dividend on Tuesday, November 3rd. Investors of record on Friday, November 13th will be given a dividend of C$0.97 per share by the pipeline company on Tuesday, December 1st. This represents a $3.88 annualized dividend and a yield of 8.0%. The ex-dividend date is Friday, November 13th.

Enbridge has decreased its dividend payment by an average of 0.1% annually over the last three years and has raised its dividend every year for the last 2 years. Enbridge has a payout ratio of 120.6% 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 research analysts expect Enbridge to earn $2.28 per share next year, which means the company may not be able to cover its $2.75 annual dividend with an expected future payout ratio of 120.6%.

Enbridge Price Performance

Shares of NYSE ENB opened at $48.76 on Thursday. The stock has a fifty day simple moving average of $48.21 and a two-hundred day simple moving average of $52.18. Enbridge has a 1-year low of $45.03 and a 1-year high of $58.45. The firm has a market cap of $108.67 billion, a price-to-earnings ratio of 22.98, a price-to-earnings-growth ratio of 5.87 and a beta of 0.59. The company has a current ratio of 0.72, a quick ratio of 0.66 and a debt-to-equity ratio of 1.69.

Wall Street Analysts Forecast Growth

ENB has been the topic of a number of recent research reports. Weiss Ratings cut Enbridge from a “buy (b)” rating to a “buy (b-)” rating in a research report on Monday. National Bank Financial upgraded Enbridge from a “sector perform” rating to an “outperform” rating in a research note on Tuesday, September 15th. The Goldman Sachs Group assumed coverage on Enbridge in a report on Wednesday, September 30th. They issued a “neutral” rating and a $50.00 price objective for the company. TD Securities restated a “buy” rating on shares of Enbridge in a research note on Friday, October 16th. Finally, Raymond James Financial reaffirmed a “market perform” rating on shares of Enbridge in a report on Tuesday, September 15th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, Enbridge has an average rating of “Moderate Buy” and an average target price of $65.88.

About Enbridge

Enbridge Inc is a Canadian energy infrastructure company that operates one of the largest pipeline and energy delivery networks in North America. Its businesses transport crude oil and other liquid hydrocarbons, move and store natural gas, and deliver natural gas to residential, commercial and industrial customers.

The company’s operations span Canada and the United States, including extensive pipeline systems serving major producing regions, refineries and population centers. Enbridge also develops and operates renewable power assets, including offshore and onshore wind projects, solar facilities and other lower-carbon energy infrastructure.

Enbridge traces its history to the Interprovincial Pipe Line Company, founded in 1949 to transport Canadian crude oil.