Royal Bank of Canada Issues Positive Forecast for Enbridge (NYSE:ENB) Stock Price

Enbridge (NYSE:ENB) (TSE:ENB) had its price objective upped by Royal Bank of Canada from $63.00 to $67.00 in a research report released on Tuesday,Benzinga reports. They currently have an outperform rating on the pipeline company’s stock.

ENB has been the topic of a number of other reports. Morgan Stanley began coverage on Enbridge in a report on Friday, October 25th. They set an “equal weight” rating on the stock. Wells Fargo & Company upgraded Enbridge from an “underweight” rating to an “equal weight” rating in a research note on Wednesday, November 6th. Finally, TD Securities began coverage on Enbridge in a research note on Wednesday, January 15th. They issued a “buy” rating on the stock. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, Enbridge has an average rating of “Hold” and a consensus target price of $67.00.

Enbridge Stock Down 0.9 %

ENB stock opened at $42.70 on Tuesday. Enbridge has a twelve month low of $32.85 and a twelve month high of $45.78. The company has a market cap of $93.05 billion, a PE ratio of 19.77, a price-to-earnings-growth ratio of 4.08 and a beta of 0.94. The business’s 50-day simple moving average is $43.35 and its 200 day simple moving average is $41.80. The company has a quick ratio of 0.54, a current ratio of 0.62 and a debt-to-equity ratio of 1.41.

Enbridge (NYSE:ENB) (TSE:ENB) last released its earnings results on Friday, February 14th. The pipeline company reported $0.75 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.23. Enbridge had a return on equity of 9.94% and a net margin of 13.54%. The business had revenue of $11.59 billion for the quarter, compared to the consensus estimate of $4.78 billion. During the same period last year, the business earned $0.64 earnings per share. On average, research analysts anticipate that Enbridge will post 1.97 earnings per share for the current year.

Enbridge Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Saturday, February 15th will be issued a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a yield of 6.28%. The ex-dividend date of this dividend is Friday, February 14th. Enbridge’s dividend payout ratio is 155.81%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of ENB. Norges Bank acquired a new position in Enbridge during the 4th quarter worth $909,415,000. Arrowstreet Capital Limited Partnership lifted its stake in shares of Enbridge by 396.7% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 12,047,004 shares of the pipeline company’s stock valued at $510,816,000 after purchasing an additional 9,621,425 shares during the period. Blackstone Inc. lifted its stake in shares of Enbridge by 650.7% in the 4th quarter. Blackstone Inc. now owns 5,718,089 shares of the pipeline company’s stock valued at $242,619,000 after purchasing an additional 4,956,379 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its stake in shares of Enbridge by 1,514.7% in the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 4,799,345 shares of the pipeline company’s stock valued at $194,938,000 after purchasing an additional 4,502,115 shares during the period. Finally, Pathway Financial Advisers LLC lifted its stake in shares of Enbridge by 4,120.0% in the 3rd quarter. Pathway Financial Advisers LLC now owns 4,571,669 shares of the pipeline company’s stock valued at $185,655,000 after purchasing an additional 4,463,335 shares during the period. Institutional investors and hedge funds own 54.60% of the company’s stock.

Enbridge Company Profile

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.