Enbridge Inc (NYSE:ENB) Stock Has Average Target Price of $65.88 According to Brokerages

Enbridge Inc (NYSE:ENB) (TSE:ENB) has received a consensus recommendation of “Moderate Buy” from the fifteen analysts that are currently covering the firm, Marketbeat Ratings reports. Five research analysts have rated the stock with a hold recommendation, nine have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $65.88.

A number of equities research analysts have recently weighed in on ENB shares. Wolfe Research set a $50.00 target price on shares of Enbridge in a research report on Tuesday, August 4th. National Bank Financial upgraded shares of Enbridge from a “sector perform” rating to an “outperform” rating in a research note on Tuesday, September 15th. BMO Capital Markets raised shares of Enbridge from a “market perform” rating to an “outperform” rating and set a $79.50 price target on the stock in a research report on Monday, September 14th. Royal Bank Of Canada boosted their price objective on shares of Enbridge from $79.00 to $84.00 and gave the company an “outperform” rating in a report on Monday, August 3rd. Finally, Raymond James Financial reissued a “market perform” rating on shares of Enbridge in a report on Tuesday, September 15th.

Enbridge Stock Performance

Shares of NYSE ENB opened at $48.76 on Friday. The company has a debt-to-equity ratio of 1.69, a current ratio of 0.72 and a quick ratio of 0.66. The stock’s fifty day moving average price is $48.21 and its two-hundred day moving average price is $52.18. Enbridge has a one year low of $45.03 and a one year high of $58.45. The firm has a market cap of $108.67 billion, a price-to-earnings ratio of 22.98, a P/E/G ratio of 5.87 and a beta of 0.59.

Enbridge Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 1st. Stockholders of record on Friday, November 13th will be given a C$0.97 dividend. This represents a $3.88 dividend on an annualized basis and a dividend yield of 8.0%. The ex-dividend date is Friday, November 13th. Enbridge’s payout ratio is presently 147.06%.

Institutional Investors Weigh In On Enbridge

Institutional investors have recently made changes to their positions in the stock. Deutsche Bank AG purchased a new position in Enbridge during the second quarter valued at $1,850,502,000. Ontario Teachers Pension Plan Board purchased a new stake in Enbridge in the 2nd quarter worth $467,782,000. Bank of New York Mellon Corp purchased a new stake in Enbridge in the 2nd quarter worth $412,627,000. Bank of America Corp DE purchased a new stake in Enbridge in the 2nd quarter worth $380,896,000. Finally, BlackRock Inc. bought a new position in shares of Enbridge during the 2nd quarter valued at about $183,623,000. 54.60% of the stock is currently owned by institutional investors.

Enbridge Company Profile

Enbridge Inc is a Canadian energy infrastructure company that operates one of the largest pipeline and energy delivery networks in North America. Its businesses transport crude oil and other liquid hydrocarbons, move and store natural gas, and deliver natural gas to residential, commercial and industrial customers.

The company’s operations span Canada and the United States, including extensive pipeline systems serving major producing regions, refineries and population centers. Enbridge also develops and operates renewable power assets, including offshore and onshore wind projects, solar facilities and other lower-carbon energy infrastructure.

Enbridge traces its history to the Interprovincial Pipe Line Company, founded in 1949 to transport Canadian crude oil.