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

Enbridge Inc. (TSE:ENB) (NYSE:ENB) has been assigned an average rating of “Hold” from the twelve brokerages that are covering the company, Marketbeat Ratings reports. Seven equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is C$53.67.

Several research analysts have weighed in on the company. Jefferies Financial Group upped their target price on Enbridge from C$53.00 to C$55.00 in a research report on Monday, May 13th. National Bankshares raised their price objective on Enbridge from C$53.00 to C$57.00 and gave the stock a “sector perform” rating in a research report on Friday, August 23rd. JPMorgan Chase & Co. raised their target price on Enbridge from C$56.00 to C$57.00 in a research report on Wednesday, August 7th. CIBC lifted their target price on Enbridge from C$57.00 to C$59.00 in a research note on Monday, July 15th. Finally, Scotiabank lowered Enbridge from a “strong-buy” rating to a “hold” rating in a research report on Friday, June 14th.

Enbridge Stock Up 1.6 %

TSE:ENB opened at C$54.22 on Friday. The firm has a market capitalization of C$118.20 billion, a price-to-earnings ratio of 20.85, a PEG ratio of 0.75 and a beta of 0.91. Enbridge has a 1-year low of C$42.75 and a 1-year high of C$54.49. The company has a current ratio of 0.76, a quick ratio of 0.44 and a debt-to-equity ratio of 131.26. The business’s fifty day moving average price is C$51.08 and its 200 day moving average price is C$49.35.

Enbridge (TSE:ENB) (NYSE:ENB) last posted its quarterly earnings results on Friday, August 2nd. The company reported C$0.58 earnings per share for the quarter, missing the consensus estimate of C$0.62 by C($0.04). Enbridge had a net margin of 13.54% and a return on equity of 8.57%. The business had revenue of C$11.34 billion for the quarter, compared to analyst estimates of C$5.86 billion. On average, sell-side analysts forecast that Enbridge will post 2.7922146 earnings per share for the current fiscal year.

Enbridge Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Sunday, September 1st. Stockholders of record on Thursday, August 15th will be given a $0.915 dividend. This represents a $3.66 annualized dividend and a dividend yield of 6.75%. The ex-dividend date of this dividend is Thursday, August 15th. Enbridge’s payout ratio is 140.77%.

Insider Activity

In other Enbridge news, Director Steven Walter Williams bought 18,600 shares of the business’s stock in a transaction on Tuesday, August 13th. The stock was purchased at an average cost of C$53.74 per share, for a total transaction of C$999,564.00. 0.10% of the stock is owned by company insiders.

Enbridge Company Profile

Enbridge Inc, together with its subsidiaries, operates as an energy infrastructure company. The company operates through five segments: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution and Storage, Renewable Power Generation, and Energy Services. The Liquids Pipelines segment operates pipelines and related terminals to transport various grades of crude oil and other liquid hydrocarbons in Canada and the United States.