Enbridge (NYSE:ENB) Upgraded by Wall Street Zen to “Hold” Rating

Wall Street Zen upgraded shares of Enbridge (NYSE:ENB) (TSE:ENB) from a sell rating to a hold rating in a research note issued to investors on Saturday morning.

ENB has been the topic of several other research reports. Canadian Imperial Bank of Commerce reissued a “neutral” rating on shares of Enbridge in a report on Monday, May 11th. Royal Bank Of Canada raised their price target on Enbridge from $76.00 to $79.00 and gave the stock an “outperform” rating in a report on Monday, May 11th. Citigroup reissued a “buy” rating on shares of Enbridge in a report on Thursday, February 19th. TD Securities downgraded Enbridge from a “buy” rating to a “hold” rating in a report on Tuesday, February 17th. Finally, Weiss Ratings raised Enbridge from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, February 9th. Seven investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, Enbridge presently has a consensus rating of “Moderate Buy” and an average target price of $66.50.

Enbridge Trading Down 1.6%

Shares of ENB opened at $55.31 on Friday. The company has a market capitalization of $120.79 billion, a P/E ratio of 25.97 and a beta of 0.59. Enbridge has a one year low of $43.59 and a one year high of $56.22. The company has a debt-to-equity ratio of 1.69, a quick ratio of 0.55 and a current ratio of 0.81. The stock has a 50-day moving average price of $53.88 and a 200 day moving average price of $50.40.

Enbridge (NYSE:ENB) (TSE:ENB) last released its 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. Enbridge had a return on equity of 11.21% and a net margin of 9.83%.The company had revenue of $9.37 billion for the quarter, compared to the consensus estimate of $8.49 billion. During the same quarter last year, the business posted $1.03 EPS. Sell-side analysts forecast that Enbridge will post 2.17 EPS for the current fiscal year.

Enbridge Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Investors of record on Friday, May 15th will be given a $0.97 dividend. This represents a $3.88 annualized dividend and a yield of 7.0%. The ex-dividend date is Friday, May 15th. Enbridge’s dividend payout ratio (DPR) is currently 130.52%.

Hedge Funds Weigh In On Enbridge

Hedge funds have recently modified their holdings of the company. Jones Financial Companies Lllp boosted its position in shares of Enbridge by 15.3% in the third quarter. Jones Financial Companies Lllp now owns 1,676,947 shares of the pipeline company’s stock worth $83,176,000 after buying an additional 221,976 shares during the period. Trajan Wealth LLC boosted its position in shares of Enbridge by 15.3% in the third quarter. Trajan Wealth LLC now owns 804,261 shares of the pipeline company’s stock worth $40,583,000 after buying an additional 106,784 shares during the period. Principal Financial Group Inc. boosted its position in shares of Enbridge by 7.7% in the third quarter. Principal Financial Group Inc. now owns 339,147 shares of the pipeline company’s stock worth $17,113,000 after buying an additional 24,165 shares during the period. Exchange Traded Concepts LLC boosted its position in shares of Enbridge by 3.9% in the fourth quarter. Exchange Traded Concepts LLC now owns 1,121,715 shares of the pipeline company’s stock worth $53,652,000 after buying an additional 41,601 shares during the period. Finally, Viking Fund Management LLC boosted its position in shares of Enbridge by 35.2% in the fourth quarter. Viking Fund Management LLC now owns 236,000 shares of the pipeline company’s stock worth $11,288,000 after buying an additional 61,500 shares during the period. 54.60% of the stock is currently owned by institutional investors and hedge funds.

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.