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

Shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) have earned a consensus rating of “Hold” from the five research firms that are currently covering the company, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $63.00.

Several research analysts have recently issued reports on the stock. Royal Bank of Canada reiterated an “outperform” rating and issued a $63.00 price target (up from $59.00) on shares of Enbridge in a research report on Wednesday, December 4th. Morgan Stanley assumed coverage on shares of Enbridge in a report on Friday, October 25th. They issued an “equal weight” rating on the stock. Wells Fargo & Company upgraded shares of Enbridge from an “underweight” rating to an “equal weight” rating in a report on Wednesday, November 6th. TD Securities began coverage on shares of Enbridge in a research report on Wednesday. They issued a “buy” rating on the stock. Finally, Jefferies Financial Group downgraded Enbridge from a “buy” rating to a “hold” rating in a research report on Monday, September 30th.

Enbridge Stock Performance

Shares of NYSE ENB opened at $44.53 on Wednesday. The company has a quick ratio of 0.54, a current ratio of 0.62 and a debt-to-equity ratio of 1.41. The firm’s 50-day moving average price is $42.71 and its two-hundred day moving average price is $40.47. The stock has a market capitalization of $97.00 billion, a P/E ratio of 20.62, a P/E/G ratio of 4.00 and a beta of 0.93. Enbridge has a 52-week low of $32.85 and a 52-week high of $44.90.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings results on Friday, November 1st. The pipeline company reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.40 by $0.15. Enbridge had a return on equity of 9.94% and a net margin of 13.54%. The company had revenue of $10.91 billion for the quarter, compared to analysts’ expectations of $4.54 billion. During the same quarter in the previous year, the company posted $0.46 earnings per share. As a group, sell-side analysts forecast that Enbridge will post 1.97 earnings per share for the current year.

Enbridge Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Saturday, February 15th will be paid a $0.67 dividend. This represents a $2.68 annualized dividend and a yield of 6.02%. The ex-dividend date of this dividend is Friday, February 14th. Enbridge’s dividend payout ratio is currently 121.76%.

Institutional Trading of Enbridge

Several hedge funds and other institutional investors have recently modified their holdings of ENB. Key Client Fiduciary Advisors LLC increased its stake in shares of Enbridge by 41.5% during the 4th quarter. Key Client Fiduciary Advisors LLC now owns 13,634 shares of the pipeline company’s stock worth $578,000 after purchasing an additional 4,000 shares during the last quarter. Beacon Investment Advisory Services Inc. boosted its holdings in Enbridge by 0.7% in the fourth quarter. Beacon Investment Advisory Services Inc. now owns 132,036 shares of the pipeline company’s stock worth $5,602,000 after purchasing an additional 865 shares in the last quarter. Janney Montgomery Scott LLC boosted its holdings in Enbridge by 7.8% in the fourth quarter. Janney Montgomery Scott LLC now owns 899,366 shares of the pipeline company’s stock worth $38,160,000 after purchasing an additional 65,145 shares in the last quarter. Albion Financial Group UT bought a new position in Enbridge during the fourth quarter valued at about $29,000. Finally, Bourne Lent Asset Management Inc. lifted its position in shares of Enbridge by 21.8% in the fourth quarter. Bourne Lent Asset Management Inc. now owns 83,349 shares of the pipeline company’s stock worth $3,536,000 after buying an additional 14,910 shares during the last quarter. 54.60% of the stock is currently owned by hedge funds and other institutional investors.

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.