Enbridge Inc (NYSE:ENB) Receives Average Rating of “Hold” from Brokerages

Enbridge Inc (NYSE:ENB) (TSE:ENB) has earned a consensus recommendation of “Hold” from the twelve research firms that are presently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the company. The average 12-month price target among analysts that have covered the stock in the last year is $63.00.

Several equities analysts have weighed in on the company. Wall Street Zen cut Enbridge from a “hold” rating to a “sell” rating in a research note on Sunday, September 21st. BMO Capital Markets reissued a “market perform” rating on shares of Enbridge in a report on Monday, November 10th. Zacks Research downgraded shares of Enbridge from a “hold” rating to a “strong sell” rating in a report on Tuesday, November 11th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Enbridge in a research note on Monday, December 8th. Finally, National Bankshares restated a “sector perform” rating on shares of Enbridge in a research note on Monday, November 10th.

Enbridge Stock Performance

Shares of ENB stock opened at $47.55 on Wednesday. The company has a current ratio of 0.80, a quick ratio of 0.68 and a debt-to-equity ratio of 1.64. The firm has a fifty day simple moving average of $47.74 and a two-hundred day simple moving average of $47.15. Enbridge has a 12 month low of $39.73 and a 12 month high of $50.54. The firm has a market capitalization of $103.71 billion, a PE ratio of 26.12 and a beta of 0.68.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its 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). Enbridge had a return on equity of 10.51% and a net margin of 9.20%.The business had revenue of $7 billion for the quarter, compared to the consensus estimate of $8.45 billion. During the same period in the previous year, the firm earned $0.55 earnings per share. Analysts forecast that Enbridge will post 2.14 EPS for the current fiscal year.

Enbridge Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Sunday, March 1st. Stockholders of record on Tuesday, February 17th will be given a dividend of $0.97 per share. The ex-dividend date of this dividend is Tuesday, February 17th. This represents a $3.88 dividend on an annualized basis and a dividend yield of 8.2%. This is a boost from Enbridge’s previous quarterly dividend of $0.94. Enbridge’s payout ratio is currently 147.80%.

Institutional Investors Weigh In On Enbridge

Institutional investors have recently added to or reduced their stakes in the business. Brighton Jones LLC purchased a new position in Enbridge in the 4th quarter valued at approximately $261,000. Nuveen LLC bought a new position in shares of Enbridge in the first quarter worth $208,490,000. Linscomb Wealth Inc. raised its position in shares of Enbridge by 17.1% in the first quarter. Linscomb Wealth Inc. now owns 12,013 shares of the pipeline company’s stock worth $532,000 after buying an additional 1,758 shares in the last quarter. Independent Advisor Alliance grew its position in Enbridge by 9.3% during the first quarter. Independent Advisor Alliance now owns 97,825 shares of the pipeline company’s stock worth $4,335,000 after buying an additional 8,345 shares in the last quarter. Finally, Public Sector Pension Investment Board increased its stake in Enbridge by 0.6% in the 1st quarter. Public Sector Pension Investment Board now owns 210,354 shares of the pipeline company’s stock worth $9,309,000 after acquiring an additional 1,300 shares during the last quarter. 54.60% of the stock is owned by hedge funds and other institutional investors.

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.