Enbridge Inc. (NYSE:ENB) to Issue Quarterly Dividend of $0.68

Enbridge Inc. (NYSE:ENB) (TSE:ENB) announced a quarterly dividend on Wednesday, April 24th, Zacks reports. Stockholders of record on Wednesday, May 15th will be paid a dividend of 0.677 per share by the pipeline company on Saturday, June 1st. This represents a $2.71 annualized dividend and a dividend yield of 7.66%. The ex-dividend date is Tuesday, May 14th. This is a positive change from Enbridge’s previous quarterly dividend of $0.66.

Enbridge has raised its dividend payment by an average of 2.9% per year over the last three years. Enbridge has a dividend payout ratio of 122.2% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Enbridge to earn $2.24 per share next year, which means the company may not be able to cover its $2.70 annual dividend with an expected future payout ratio of 120.5%.

Enbridge Trading Down 0.8 %

Shares of NYSE:ENB traded down $0.30 during trading on Thursday, reaching $35.36. 1,250,875 shares of the company were exchanged, compared to its average volume of 5,669,786. Enbridge has a 12-month low of $31.03 and a 12-month high of $40.30. The firm has a market capitalization of $75.17 billion, a PE ratio of 16.99, a P/E/G ratio of 3.32 and a beta of 0.84. The business’s fifty day simple moving average is $35.12 and its 200-day simple moving average is $34.77. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.83 and a quick ratio of 0.74.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings data on Friday, February 9th. The pipeline company reported $0.47 earnings per share for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.03). Enbridge had a return on equity of 10.23% and a net margin of 13.97%. The company had revenue of $8.37 billion for the quarter, compared to analysts’ expectations of $9.62 billion. On average, research analysts anticipate that Enbridge will post 2.14 EPS for the current year.

Analysts Set New Price Targets

ENB has been the subject of several recent analyst reports. Stifel Nicolaus began coverage on Enbridge in a research note on Thursday, January 18th. They issued a “hold” rating for the company. Jefferies Financial Group assumed coverage on Enbridge in a research report on Tuesday, February 27th. They set a “buy” rating on the stock. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $55.20.

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.