Analysts Set Enbridge Inc (NYSE:ENB) PT at $66.50

Shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) have earned a consensus rating of “Moderate Buy” from the thirteen ratings firms that are covering the stock, Marketbeat Ratings reports. Six equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $66.50.

A number of research firms have recently weighed in on ENB. Royal Bank Of Canada raised their target price on Enbridge from $76.00 to $79.00 and gave the company 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 report on Saturday, June 27th. Canadian Imperial Bank of Commerce reissued a “neutral” rating on shares of Enbridge in a research report on Monday, May 11th. Weiss Ratings restated a “buy (b)” rating on shares of Enbridge in a research note on Friday, May 22nd. Finally, Scotiabank reaffirmed an “outperform” rating on shares of Enbridge in a report on Monday, May 11th.

Institutional Investors Weigh In On Enbridge

Institutional investors have recently added to or reduced their stakes in the company. Retirement Planning Group LLC lifted its position in shares of Enbridge by 3.6% during the 1st quarter. Retirement Planning Group LLC now owns 5,357 shares of the pipeline company’s stock worth $290,000 after buying an additional 187 shares in the last quarter. PFG Investments LLC grew its holdings in shares of Enbridge by 0.9% in the first quarter. PFG Investments LLC now owns 22,208 shares of the pipeline company’s stock valued at $1,202,000 after acquiring an additional 202 shares in the last quarter. MIdWestOne Financial Group Inc. increased its position in shares of Enbridge by 4.3% during the fourth quarter. MIdWestOne Financial Group Inc. now owns 4,906 shares of the pipeline company’s stock valued at $235,000 after acquiring an additional 203 shares during the last quarter. Sumitomo Life Insurance Co. increased its position in shares of Enbridge by 1.1% during the fourth quarter. Sumitomo Life Insurance Co. now owns 18,621 shares of the pipeline company’s stock valued at $891,000 after acquiring an additional 205 shares during the last quarter. Finally, Arete Wealth Advisors LLC increased its position in shares of Enbridge by 4.4% during the fourth quarter. Arete Wealth Advisors LLC now owns 4,914 shares of the pipeline company’s stock valued at $235,000 after acquiring an additional 208 shares during the last quarter. 54.60% of the stock is owned by institutional investors.

Enbridge Trading Down 0.1%

NYSE:ENB opened at $54.05 on Friday. The company has a debt-to-equity ratio of 1.69, a current ratio of 0.81 and a quick ratio of 0.73. Enbridge has a one year low of $43.59 and a one year high of $58.45. The company has a market cap of $118.04 billion, a PE ratio of 25.37 and a beta of 0.58. The firm has a 50-day moving average of $55.32 and a 200-day moving average of $52.38.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings results on Friday, May 8th. The pipeline company reported $0.71 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.02. The business had revenue of $9.37 billion for 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 firm earned $1.03 EPS. As a group, equities research analysts expect that Enbridge will post 2.16 EPS for the current fiscal year.

Enbridge Announces Dividend

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

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.