Enbridge Inc. (TSE:ENB) Given Average Recommendation of “Hold” by Brokerages

Shares of Enbridge Inc. (TSE:ENB) (NYSE:ENB) have been assigned a consensus recommendation of “Hold” from the eleven brokerages that are covering the stock, Marketbeat reports. Seven investment analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is C$61.69.

A number of brokerages have commented on ENB. TD Securities set a C$66.00 price objective on shares of Enbridge and gave the company a “buy” rating in a research report on Wednesday, January 15th. JPMorgan Chase & Co. increased their target price on Enbridge from C$66.00 to C$69.00 in a report on Thursday, December 5th. Raymond James lifted their price target on Enbridge from C$59.00 to C$63.00 in a report on Tuesday, November 26th. Royal Bank of Canada increased their price objective on Enbridge from C$59.00 to C$63.00 in a report on Wednesday, December 4th. Finally, Morgan Stanley set a C$64.00 target price on Enbridge and gave the stock an “equal weight” rating in a research note on Friday, October 25th.

Enbridge Price Performance

ENB opened at C$65.01 on Wednesday. The stock’s 50-day moving average price is C$60.84 and its 200 day moving average price is C$56.25. Enbridge has a 12-month low of C$45.05 and a 12-month high of C$65.62. The firm has a market cap of C$141.72 billion, a price-to-earnings ratio of 25.00, a PEG ratio of 1.72 and a beta of 0.90. The company has a current ratio of 0.76, a quick ratio of 0.44 and a debt-to-equity ratio of 131.26.

Enbridge (TSE:ENB) (NYSE:ENB) last announced its earnings results on Friday, November 1st. The company reported C$0.55 earnings per share for the quarter, missing the consensus estimate of C$0.56 by C($0.01). Enbridge had a return on equity of 8.57% and a net margin of 13.54%. During the same quarter in the previous year, the company earned $0.62 EPS. As a group, sell-side analysts expect that Enbridge will post 3.511912 earnings per share for the current year.

Enbridge Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Friday, February 14th will be given a dividend of $0.9425 per share. This is a positive change from Enbridge’s previous quarterly dividend of $0.92. This represents a $3.77 annualized dividend and a yield of 5.80%. Enbridge’s dividend payout ratio is 140.77%.

Insider Activity

In other news, Senior Officer Cynthia Lynn Hansen sold 1,106 shares of the business’s stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of C$59.94, for a total transaction of C$66,293.64. Corporate insiders own 0.10% of the company’s stock.

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.