Enbridge Inc (NYSE:ENB) Receives $65.00 Average Price Target from Analysts

Shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) have earned a consensus recommendation of “Moderate Buy” from the thirteen research firms that are presently covering the firm, MarketBeat Ratings reports. Six equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $65.00.

Several analysts have recently issued reports on the company. BMO Capital Markets reissued a “market perform” rating on shares of Enbridge in a report on Tuesday, February 17th. Weiss Ratings raised shares of Enbridge from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, February 9th. JPMorgan Chase & Co. downgraded shares of Enbridge from an “overweight” rating to a “neutral” rating in a research note on Tuesday, January 27th. Zacks Research raised shares of Enbridge from a “strong sell” rating to a “hold” rating in a report on Monday, December 29th. Finally, Scotiabank reaffirmed an “outperform” rating on shares of Enbridge in a report on Tuesday, February 17th.

Enbridge Stock Up 0.0%

Shares of ENB opened at $52.42 on Monday. The company has a current ratio of 0.63, a quick ratio of 0.55 and a debt-to-equity ratio of 1.70. Enbridge has a 12 month low of $39.73 and a 12 month high of $54.19. The firm’s 50 day moving average is $48.70 and its 200-day moving average is $48.29. The stock has a market capitalization of $114.37 billion, a PE ratio of 22.79 and a beta of 0.69.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings results on Friday, February 13th. The pipeline company reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.60 by $0.03. Enbridge had a return on equity of 11.19% and a net margin of 11.30%.The business had revenue of $17.18 billion for the quarter, compared to the consensus estimate of $9.10 billion. During the same quarter in the prior year, the business posted $0.75 earnings per share. Equities research analysts forecast that Enbridge will post 2.14 EPS for the current year.

Enbridge Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, March 1st. Shareholders of record on Tuesday, February 17th will be given a dividend of $0.97 per share. This is an increase from Enbridge’s previous quarterly dividend of $0.94. This represents a $3.88 annualized dividend and a yield of 7.4%. The ex-dividend date is Tuesday, February 17th. Enbridge’s dividend payout ratio (DPR) is presently 120.87%.

Hedge Funds Weigh In On Enbridge

Several hedge funds and other institutional investors have recently modified their holdings of the business. Tsfg LLC boosted its stake in Enbridge by 329.6% in the third 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 raised its stake in Enbridge by 112.4% during the second quarter. Whipplewood Advisors LLC now owns 582 shares of the pipeline company’s stock worth $26,000 after acquiring an additional 308 shares in the last quarter. Triumph Capital Management bought a new position in shares of Enbridge in the third quarter worth about $26,000. Highline Wealth Partners LLC boosted its stake in shares of Enbridge by 73.1% in the 3rd quarter. Highline Wealth Partners LLC now owns 559 shares of the pipeline company’s stock valued at $28,000 after purchasing an additional 236 shares in the last quarter. Finally, Turning Point Benefit Group Inc. acquired a new stake in shares of Enbridge in the 3rd quarter valued at approximately $28,000. Institutional investors own 54.60% of the company’s stock.

Enbridge Company Profile

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.