Enbridge (NYSE:ENB) Price Target Raised to $72.00

Enbridge (NYSE:ENB) (TSE:ENB) had its target price lifted by Royal Bank Of Canada from $67.00 to $72.00 in a report released on Monday, MarketBeat.com reports. They currently have an outperform rating on the pipeline company’s stock.

ENB has been the topic of a number of other reports. Scotiabank reissued a “sector perform” rating on shares of Enbridge in a research note on Monday, October 20th. CIBC downgraded shares of Enbridge from an “outperform” rating to a “neutral” rating in a report on Thursday, October 9th. National Bankshares reaffirmed a “sector perform” rating on shares of Enbridge in a research report on Tuesday, August 5th. Jefferies Financial Group raised Enbridge from a “hold” rating to a “buy” rating in a report on Wednesday, July 23rd. Finally, Argus upped their price target on Enbridge from $50.00 to $54.00 and gave the stock a “buy” rating in a report on Tuesday, August 12th. Six investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $63.00.

Enbridge Trading Up 1.0%

NYSE ENB opened at $48.77 on Monday. The company has a current ratio of 0.75, a quick ratio of 0.65 and a debt-to-equity ratio of 1.58. Enbridge has a 1-year low of $39.73 and a 1-year high of $50.54. The firm’s fifty day simple moving average is $48.28 and its 200-day simple moving average is $46.81. The company has a market capitalization of $106.37 billion, a PE ratio of 24.03, a price-to-earnings-growth ratio of 4.31 and a beta of 0.76.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings results on Friday, November 7th. The pipeline company reported $0.33 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.06). The firm had revenue of $7 billion during the quarter, compared to the consensus estimate of $8.45 billion. Enbridge had a net margin of 10.11% and a return on equity of 10.77%. During the same period in the previous year, the firm posted $0.55 EPS. As a group, sell-side analysts anticipate that Enbridge will post 2.14 earnings per share for the current fiscal year.

Enbridge Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Friday, November 14th will be paid a dividend of $0.9425 per share. This is an increase from Enbridge’s previous quarterly dividend of $0.68. This represents a $3.77 dividend on an annualized basis and a yield of 7.7%. The ex-dividend date is Friday, November 14th. Enbridge’s dividend payout ratio is presently 147.25%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in ENB. Dagco Inc. bought a new stake in shares of Enbridge in the 1st quarter valued at approximately $25,000. Tsfg LLC boosted its stake in Enbridge by 329.6% in the 3rd quarter. Tsfg LLC now owns 494 shares of the pipeline company’s stock valued at $25,000 after buying an additional 379 shares in the last quarter. Whipplewood Advisors LLC grew its position in Enbridge by 112.4% in the second quarter. Whipplewood Advisors LLC now owns 582 shares of the pipeline company’s stock valued at $26,000 after acquiring an additional 308 shares during the period. Highline Wealth Partners LLC raised its stake in Enbridge by 73.1% during the third quarter. Highline Wealth Partners LLC now owns 559 shares of the pipeline company’s stock worth $28,000 after acquiring an additional 236 shares in the last quarter. Finally, Financial Gravity Companies Inc. bought a new position in shares of Enbridge during the second quarter valued at $29,000. 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.