Enbridge Inc (NYSE:ENB) Receives Average Recommendation of “Hold” from Analysts

Shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) have received an average rating of “Hold” from the eleven ratings firms that are presently covering the firm, MarketBeat.com reports. Seven research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $67.00.

A number of equities analysts have weighed in on ENB shares. TD Securities reaffirmed a “hold” rating on shares of Enbridge in a research report on Thursday, July 16th. BMO Capital Markets reissued a “market perform” rating on shares of Enbridge in a research report on Monday, August 3rd. Canadian Imperial Bank of Commerce reissued a “neutral” rating on shares of Enbridge in a research report on Monday, May 11th. Scotiabank restated an “outperform” rating on shares of Enbridge in a report on Tuesday, July 21st. Finally, Wall Street Zen raised shares of Enbridge from a “sell” rating to a “hold” rating in a research report on Sunday, July 12th.

Hedge Funds Weigh In On Enbridge

Hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. increased its position in shares of Enbridge by 2.1% in the fourth quarter. Vanguard Group Inc. now owns 100,364,993 shares of the pipeline company’s stock valued at $4,802,766,000 after acquiring an additional 2,067,516 shares during the last quarter. Deutsche Bank AG acquired a new position in Enbridge during the second quarter valued at approximately $1,850,502,000. Norges Bank bought a new position in Enbridge in the fourth quarter valued at approximately $1,195,559,000. Geode Capital Management LLC grew its stake in Enbridge by 7.1% in the fourth quarter. Geode Capital Management LLC now owns 21,421,826 shares of the pipeline company’s stock valued at $1,045,172,000 after purchasing an additional 1,415,995 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. grew its stake in Enbridge by 18.4% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 20,624,547 shares of the pipeline company’s stock valued at $1,117,353,000 after purchasing an additional 3,205,322 shares in the last quarter. Institutional investors own 54.60% of the company’s stock.

Enbridge Stock Down 0.0%

NYSE:ENB opened at $50.89 on Monday. The company has a debt-to-equity ratio of 1.69, a quick ratio of 0.66 and a current ratio of 0.72. The company has a market cap of $111.15 billion, a PE ratio of 27.22 and a beta of 0.58. Enbridge has a 52-week low of $45.03 and a 52-week high of $58.45. The stock has a 50-day simple moving average of $54.67 and a 200 day simple moving average of $53.95.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its earnings results on Friday, July 31st. The pipeline company reported $0.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $0.03. The business had revenue of $9.70 billion for the quarter, compared to analyst estimates of $8.67 billion. Enbridge had a return on equity of 11.17% and a net margin of 7.20%.During the same quarter last year, the firm earned $0.65 EPS. On average, sell-side analysts expect that Enbridge will post 2.11 EPS for the current fiscal year.

Enbridge Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Friday, August 14th will be paid a dividend of $0.97 per share. This represents a $3.88 dividend on an annualized basis and a dividend yield of 7.6%. The ex-dividend date is Friday, August 14th. Enbridge’s dividend payout ratio is currently 147.06%.

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.