Enbridge Inc (NYSE:ENB) Receives Consensus Recommendation of “Hold” from Brokerages

Enbridge Inc (NYSE:ENB) (TSE:ENB) has earned a consensus recommendation of “Hold” from the twelve ratings firms that are currently covering the company, Marketbeat reports. Seven equities research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $63.00.

A number of analysts have commented on ENB shares. Zacks Research raised shares of Enbridge from a “strong sell” rating to a “hold” rating in a research note on Monday, December 29th. JPMorgan Chase & Co. lowered shares of Enbridge from an “overweight” rating to a “neutral” rating in a report on Tuesday, January 27th. Scotiabank raised shares of Enbridge from a “sector perform” rating to a “sector outperform” rating in a research note on Friday, January 16th. Weiss Ratings cut shares of Enbridge from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, January 26th. Finally, National Bankshares restated a “sector perform” rating on shares of Enbridge in a report on Monday, November 10th.

Institutional Investors Weigh In On Enbridge

Several institutional investors and hedge funds have recently modified their holdings of the business. Tsfg LLC increased its position in Enbridge by 329.6% in the 3rd quarter. Tsfg LLC now owns 494 shares of the pipeline company’s stock worth $25,000 after buying an additional 379 shares during the period. Whipplewood Advisors LLC boosted its position in shares of 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. Triumph Capital Management acquired a new stake in shares of Enbridge in the third quarter worth $26,000. Highline Wealth Partners LLC increased its position 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 during the period. Finally, Turning Point Benefit Group Inc. acquired a new position in Enbridge during the 3rd quarter valued at $28,000. Institutional investors and hedge funds own 54.60% of the company’s stock.

Enbridge Stock Performance

ENB opened at $48.30 on Thursday. The firm has a market cap of $105.37 billion, a PE ratio of 26.54 and a beta of 0.69. The company has a quick ratio of 0.68, a current ratio of 0.80 and a debt-to-equity ratio of 1.64. The business has a fifty day simple moving average of $47.44 and a 200-day simple moving average of $47.62. Enbridge has a fifty-two week low of $39.73 and a fifty-two week high of $50.54.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its earnings results on Friday, November 7th. The pipeline company reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.06). Enbridge had a return on equity of 10.51% and a net margin of 9.20%.The company had revenue of $7 billion for the quarter, compared to analyst estimates of $8.45 billion. During the same period last year, the firm earned $0.55 earnings per share. As a group, equities analysts predict that Enbridge will post 2.14 EPS for the current fiscal year.

Enbridge Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Sunday, March 1st. Investors 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 is a positive change from Enbridge’s previous quarterly dividend of $0.94. This represents a $3.88 annualized dividend and a yield of 8.0%. Enbridge’s payout ratio is presently 147.80%.

About Enbridge

Enbridge Inc is a Calgary, Alberta–based energy infrastructure company that develops, owns and operates a diversified portfolio of energy transportation, distribution and generation assets. Its core activities include the operation of crude oil and liquids pipelines, natural gas transmission and distribution systems, and energy storage facilities. In addition to midstream transportation and storage, Enbridge has expanded into renewable power generation and energy transition projects, including wind, solar and utility-scale generation assets.

The company serves customers primarily in Canada and the United States and has interests in other international energy projects.