Enbridge Inc. (TSE:ENB) Given Consensus Recommendation of “Hold” by Analysts

Shares of Enbridge Inc. (TSE:ENB) (NYSE:ENB) have been assigned a consensus recommendation of “Hold” from the eleven ratings firms that are currently covering the stock, MarketBeat.com reports. Six equities research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is C$65.79.

Several brokerages recently weighed in on ENB. Jefferies Financial Group lifted their price objective on Enbridge from C$59.00 to C$65.00 in a report on Thursday, January 30th. Raymond James raised shares of Enbridge to a “moderate buy” rating in a research report on Wednesday, April 23rd. TD Securities raised their price objective on shares of Enbridge from C$66.00 to C$67.00 and gave the stock a “buy” rating in a report on Tuesday, February 18th. Citigroup set a C$75.00 target price on shares of Enbridge and gave the company a “buy” rating in a report on Friday, April 4th. Finally, CIBC increased their target price on Enbridge from C$66.00 to C$67.00 in a research report on Wednesday, March 5th.

Enbridge Price Performance

Shares of TSE ENB opened at C$63.79 on Friday. The company has a current ratio of 0.62, a quick ratio of 0.44 and a debt-to-equity ratio of 144.86. The stock has a fifty day simple moving average of C$62.32 and a two-hundred day simple moving average of C$61.32. Enbridge has a 1-year low of C$47.41 and a 1-year high of C$65.62. The firm has a market cap of C$138.25 billion, a price-to-earnings ratio of 20.74, a price-to-earnings-growth ratio of 1.72 and a beta of 0.90.

Enbridge Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, June 1st. Investors of record on Sunday, June 1st will be given a $0.9425 dividend. This represents a $3.77 annualized dividend and a dividend yield of 5.91%. The ex-dividend date of this dividend is Thursday, May 15th. Enbridge’s dividend payout ratio (DPR) is 118.98%.

Insider Activity at Enbridge

In other Enbridge news, Senior Officer Michele Eva Harradence acquired 5,857 shares of the stock in a transaction dated Wednesday, March 19th. The stock was purchased at an average cost of C$62.53 per share, for a total transaction of C$366,238.21. Also, Senior Officer Matthew Allan Akman bought 1,000 shares of Enbridge stock in a transaction that occurred on Friday, March 14th. The shares were acquired at an average cost of C$61.24 per share, for a total transaction of C$61,240.00. 0.10% of the stock is currently owned by insiders.

About Enbridge

Enbridge owns extensive midstream assets that transport hydrocarbons across the U.S. and Canada. Its pipeline network consists of the Canadian Mainline system, regional oil sands pipelines, and natural gas pipelines. The company also owns and operates a regulated natural gas utility and Canada’s largest natural gas distribution company.