Enbridge Inc (NYSE:ENB) Receives $63.00 Average Price Target from Brokerages

Enbridge Inc (NYSE:ENB) (TSE:ENB) has been given a consensus recommendation of “Hold” by the twelve analysts that are currently covering the company, MarketBeat reports. Seven research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $63.00.

A number of brokerages have recently issued reports on ENB. CIBC downgraded shares of Enbridge from an “outperform” rating to a “neutral” rating in a report on Thursday, October 9th. Royal Bank Of Canada upped their target price on shares of Enbridge from $67.00 to $72.00 and gave the stock an “outperform” rating in a report on Monday, November 10th. Wall Street Zen downgraded shares of Enbridge from a “hold” rating to a “sell” rating in a report on Sunday, September 21st. Weiss Ratings restated a “hold (c+)” rating on shares of Enbridge in a research report on Monday, December 29th. Finally, Zacks Research raised shares of Enbridge from a “strong sell” rating to a “hold” rating in a report on Monday, December 29th.

Institutional Trading of Enbridge

A number of large investors have recently modified their holdings of the business. O Keefe Stevens Advisory Inc. increased its position in shares of Enbridge by 7.2% in the fourth quarter. O Keefe Stevens Advisory Inc. now owns 33,645 shares of the pipeline company’s stock worth $1,609,000 after purchasing an additional 2,268 shares during the last quarter. Agate Pass Investment Management LLC lifted its position in Enbridge by 1.5% during the fourth quarter. Agate Pass Investment Management LLC now owns 38,105 shares of the pipeline company’s stock valued at $1,823,000 after purchasing an additional 560 shares during the last quarter. Armstrong Advisory Group Inc. grew its stake in Enbridge by 7.6% in the 4th quarter. Armstrong Advisory Group Inc. now owns 7,823 shares of the pipeline company’s stock worth $374,000 after buying an additional 552 shares in the last quarter. Peoples Bank KS increased its holdings in shares of Enbridge by 2.3% in the 4th quarter. Peoples Bank KS now owns 30,815 shares of the pipeline company’s stock worth $1,474,000 after buying an additional 690 shares during the last quarter. Finally, Old Port Advisors increased its holdings in shares of Enbridge by 3.9% in the 4th quarter. Old Port Advisors now owns 52,414 shares of the pipeline company’s stock worth $2,507,000 after buying an additional 1,988 shares during the last quarter. Institutional investors own 54.60% of the company’s stock.

Enbridge Price Performance

Enbridge stock opened at $45.34 on Friday. The firm has a market capitalization of $98.89 billion, a P/E ratio of 24.91 and a beta of 0.68. Enbridge has a one year low of $39.73 and a one year high of $50.54. The company has a debt-to-equity ratio of 1.64, a current ratio of 0.80 and a quick ratio of 0.68. The business has a fifty day moving average price of $47.51 and a 200-day moving average price of $47.26.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings data on Friday, November 7th. The pipeline company reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.06). The company had revenue of $7 billion for the quarter, compared to analysts’ expectations of $8.45 billion. Enbridge had a return on equity of 10.51% and a net margin of 9.20%.During the same period last year, the company posted $0.55 EPS. As a group, equities research analysts forecast that Enbridge will post 2.14 EPS for the current year.

Enbridge Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Sunday, March 1st. Shareholders of record on Tuesday, February 17th will be paid a $0.97 dividend. The ex-dividend date is Tuesday, February 17th. This represents a $3.88 dividend on an annualized basis and a yield of 8.6%. This is an increase from Enbridge’s previous quarterly dividend of $0.94. Enbridge’s dividend payout ratio is currently 147.80%.

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.