Enbridge Inc (ENB) Receives $50.75 Consensus Target Price from Analysts

Shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) have received an average rating of “Hold” from the eleven brokerages that are currently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company. The average 1-year price target among brokers that have covered the stock in the last year is $50.75.

A number of research firms have recently weighed in on ENB. Zacks Investment Research cut shares of Enbridge from a “buy” rating to a “hold” rating in a research note on Tuesday, November 13th. Wolfe Research raised shares of Enbridge from a “market perform” rating to an “outperform” rating in a research note on Monday, January 7th. ValuEngine raised shares of Enbridge from a “sell” rating to a “hold” rating in a research note on Tuesday, October 2nd. Wells Fargo & Co raised shares of Enbridge from a “market perform” rating to an “outperform” rating in a research note on Monday, November 5th. Finally, UBS Group began coverage on shares of Enbridge in a research note on Thursday, October 4th. They set a “buy” rating on the stock.

Shares of ENB opened at $34.54 on Friday. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.49 and a current ratio of 0.59. The firm has a market capitalization of $69.71 billion, a price-to-earnings ratio of 22.43, a PEG ratio of 2.03 and a beta of 0.54. Enbridge has a 1 year low of $28.82 and a 1 year high of $40.07.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings data on Friday, November 2nd. The pipeline company reported $0.42 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.42. Enbridge had a net margin of 3.95% and a return on equity of 8.81%. The company had revenue of $8.68 billion for the quarter, compared to analysts’ expectations of $8.28 billion. During the same period in the previous year, the company posted $0.39 EPS. As a group, equities research analysts expect that Enbridge will post 2.05 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, March 1st. Stockholders of record on Friday, February 15th will be paid a dividend of $0.555 per share. The ex-dividend date of this dividend is Thursday, February 14th. This is a boost from Enbridge’s previous quarterly dividend of $0.51. This represents a $2.22 dividend on an annualized basis and a dividend yield of 6.43%. Enbridge’s dividend payout ratio is 131.82%.

In other Enbridge news, insider Albert Monaco acquired 7,569 shares of the stock in a transaction that occurred on Tuesday, December 4th. The shares were purchased at an average cost of $43.82 per share, with a total value of $331,673.58. Following the purchase, the insider now owns 67,329 shares in the company, valued at $2,950,356.78. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Byron C. Neiles sold 64,000 shares of the stock in a transaction dated Friday, December 14th. The shares were sold at an average price of $43.10, for a total transaction of $2,758,400.00. Following the completion of the sale, the insider now directly owns 128,665 shares in the company, valued at $5,545,461.50. The disclosure for this sale can be found here. Corporate insiders own 0.48% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of ENB. Janus Henderson Group PLC grew its stake in Enbridge by 34.7% in the 2nd quarter. Janus Henderson Group PLC now owns 667,725 shares of the pipeline company’s stock valued at $23,850,000 after acquiring an additional 172,132 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in Enbridge by 16.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 910,407 shares of the pipeline company’s stock valued at $32,470,000 after acquiring an additional 126,323 shares during the last quarter. Baird Financial Group Inc. grew its stake in Enbridge by 21.1% in the 2nd quarter. Baird Financial Group Inc. now owns 136,487 shares of the pipeline company’s stock valued at $4,871,000 after acquiring an additional 23,801 shares during the last quarter. Laurion Capital Management LP acquired a new stake in Enbridge in the 2nd quarter valued at about $554,000. Finally, Tocqueville Asset Management L.P. acquired a new stake in Enbridge in the 2nd quarter valued at about $224,000. 49.11% of the stock is currently owned by hedge funds and other institutional investors.

Enbridge Company Profile

Enbridge Inc operates as an energy infrastructure company in Canada and the United States. The company operates in five segments: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution, Green Power and Transmission, and Energy Services. The Liquids Pipelines segment operates common carrier and contract crude oil, natural gas liquids (NGL), and refined products pipelines and terminals.

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Analyst Recommendations for Enbridge (NYSE:ENB)

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