Enbridge Inc. (TSE:ENB) Receives Average Recommendation of “Moderate Buy” from Brokerages

Enbridge Inc. (TSE:ENB) (NYSE:ENB) has received a consensus recommendation of “Moderate Buy” from the ten research firms that are presently covering the stock, Marketbeat reports. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is C$54.33.

Several brokerages have weighed in on ENB. National Bankshares increased their price target on shares of Enbridge from C$53.00 to C$57.00 and gave the company a “sector perform” rating in a research report on Friday, August 23rd. Wells Fargo & Company increased their price target on shares of Enbridge from C$45.00 to C$48.00 in a research report on Tuesday, June 4th. CIBC increased their price target on shares of Enbridge from C$57.00 to C$59.00 in a research report on Monday, July 15th. Scotiabank lowered shares of Enbridge from a “strong-buy” rating to a “hold” rating in a report on Friday, June 14th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Enbridge from C$56.00 to C$57.00 in a report on Wednesday, August 7th.

Enbridge Price Performance

Shares of Enbridge stock opened at C$55.18 on Thursday. Enbridge has a 52-week low of C$42.75 and a 52-week high of C$56.09. The stock has a market capitalization of C$120.29 billion, a price-to-earnings ratio of 21.22, a price-to-earnings-growth ratio of 0.75 and a beta of 0.90. The company has a fifty day moving average of C$52.76 and a 200-day moving average of C$50.14. The company has a debt-to-equity ratio of 131.26, a quick ratio of 0.44 and a current ratio of 0.76.

Enbridge (TSE:ENB) (NYSE:ENB) last announced its quarterly earnings data on Friday, August 2nd. The company reported C$0.58 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.62 by C($0.04). Enbridge had a net margin of 13.54% and a return on equity of 8.57%. The business had revenue of C$11.34 billion during the quarter, compared to analysts’ expectations of C$5.86 billion. Equities research analysts expect that Enbridge will post 3.0693674 EPS for the current year.

Enbridge Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Thursday, August 15th were given a dividend of $0.915 per share. This represents a $3.66 annualized dividend and a yield of 6.63%. The ex-dividend date was Thursday, August 15th. Enbridge’s dividend payout ratio (DPR) is 140.77%.

Insider Activity at Enbridge

In related news, Director Steven Walter Williams purchased 18,600 shares of the company’s stock in a transaction dated Tuesday, August 13th. The shares were purchased at an average price of C$53.74 per share, with a total value of C$999,564.00. 0.10% of the stock is currently owned by insiders.

About Enbridge

Enbridge Inc, together with its subsidiaries, operates as an energy infrastructure company. The company operates through five segments: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution and Storage, Renewable Power Generation, and Energy Services. The Liquids Pipelines segment operates pipelines and related terminals to transport various grades of crude oil and other liquid hydrocarbons in Canada and the United States.