Enbridge Inc. (TSE:ENB) Stock Now Rated “Moderate Buy” by Sell-Side Brokerages

Enbridge Inc. (TSE:ENB) (NYSE:ENB) has received a consensus rating of “Moderate Buy” from the thirteen ratings firms that are currently covering the stock, Marketbeat reports. Four research analysts have rated the stock with a hold recommendation, seven have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is C$77.62.

A number of analysts have recently commented on the stock. Raymond James Financial boosted their target price on shares of Enbridge from C$79.00 to C$80.00 and gave the stock a “market perform” rating in a research note on Tuesday, September 15th. BMO Capital Markets upgraded shares of Enbridge from a “hold” rating to an “outperform” rating and upped their price target for the stock from C$79.00 to C$79.50 in a research report on Tuesday, September 15th. Canadian Imperial Bank of Commerce raised shares of Enbridge from a “hold” rating to an “outperformer” rating and raised their price target for the company from C$77.00 to C$78.00 in a research note on Friday, August 28th. TD raised shares of Enbridge from a “hold” rating to a “buy” rating and decreased their price target for the company from C$82.00 to C$81.00 in a research note on Tuesday, September 15th. Finally, Scotiabank upgraded Enbridge to a “strong-buy” rating in a report on Thursday, September 17th.

Insider Activity at Enbridge

In other news, insider Michele Eva Harradence bought 7,105 shares of the firm’s stock in a transaction dated Monday, September 14th. The shares were acquired at an average price of C$67.28 per share, for a total transaction of C$478,024.40. Following the completion of the transaction, the insider directly owned 87,467 shares in the company, valued at C$5,884,779.76. The trade was a 8.84% increase in their position. Also, Director Gregory Lorne Ebel purchased 7,105 shares of the stock in a transaction dated Monday, September 14th. The stock was purchased at an average cost of C$66.85 per share, for a total transaction of C$474,969.25. Following the completion of the purchase, the director directly owned 589,721 shares of the company’s stock, valued at approximately C$39,422,848.85. The trade was a 1.22% increase in their ownership of the stock. Company insiders own 0.10% of the company’s stock.

Enbridge Price Performance

Shares of TSE ENB opened at C$66.14 on Tuesday. The firm has a market cap of C$147.42 billion, a PE ratio of 25.54, a PEG ratio of 1.72 and a beta of 0.74. The firm has a fifty day moving average of C$67.56 and a 200 day moving average of C$72.49. The company has a debt-to-equity ratio of 171.59, a quick ratio of 0.44 and a current ratio of 0.72. Enbridge has a one year low of C$62.42 and a one year high of C$80.65.

Enbridge (TSE:ENB) (NYSE:ENB) last posted its quarterly earnings data on Friday, November 6th. The company reported C$0.49 earnings per share for the quarter. The company had revenue of C$21.08 billion during the quarter. Enbridge had a net margin of 7.28% and a return on equity of 10.01%. As a group, research analysts predict that Enbridge will post 3.51 EPS for the current fiscal year.

Enbridge Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 1st. Shareholders of record on Tuesday, December 1st will be issued a dividend of $0.97 per share. The ex-dividend date of this dividend is Friday, November 13th. This represents a $3.88 dividend on an annualized basis and a dividend yield of 5.9%. Enbridge’s dividend payout ratio is presently 147.68%.

About Enbridge

At Enbridge, we safely connect millions of people to the energy they rely on every day, fueling quality of life through our North American natural gas, oil and renewable power networks and our growing European offshore wind portfolio. We’re investing in modern energy delivery infrastructure to sustain access to secure, affordable energy and building on more than a century of operating conventional energy infrastructure and two decades of experience in renewable power. We’re advancing new technologies including hydrogen, renewable natural gas, and carbon capture and storage.