Enbridge Inc. (TSE:ENB) Plans $0.92 Quarterly Dividend

Enbridge Inc. (TSE:ENB) (NYSE:ENB) declared a quarterly dividend on Wednesday, April 24th, RTT News reports. Shareholders of record on Wednesday, May 15th will be given a dividend of 0.915 per share on Saturday, June 1st. This represents a $3.66 dividend on an annualized basis and a yield of 7.49%.

Enbridge Price Performance

ENB opened at C$48.86 on Thursday. The stock has a fifty day simple moving average of C$47.68 and a two-hundred day simple moving average of C$47.11. The company has a current ratio of 0.83, a quick ratio of 0.44 and a debt-to-equity ratio of 127.95. The company has a market cap of C$104.07 billion, a price-to-earnings ratio of 17.20, a price-to-earnings-growth ratio of 0.75 and a beta of 0.89. Enbridge has a 12-month low of C$42.75 and a 12-month high of C$54.05.

Enbridge (TSE:ENB) (NYSE:ENB) last released its earnings results on Friday, February 9th. The company reported C$0.64 EPS for the quarter, missing analysts’ consensus estimates of C$0.68 by C($0.04). Enbridge had a return on equity of 9.47% and a net margin of 14.18%. The company had revenue of C$11.30 billion during the quarter, compared to analysts’ expectations of C$12.99 billion. Research analysts predict that Enbridge will post 2.8389626 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Jefferies Financial Group cut their target price on Enbridge from C$54.00 to C$53.00 and set a “buy” rating on the stock in a research note on Wednesday, April 17th. Royal Bank of Canada cut their target price on Enbridge from C$55.00 to C$54.00 and set an “outperform” rating on the stock in a research note on Monday, February 12th. Barclays cut their target price on Enbridge from C$53.00 to C$51.00 in a research note on Thursday, March 7th. National Bankshares increased their price objective on Enbridge from C$51.00 to C$52.00 in a research report on Thursday, March 7th. Finally, ATB Capital set a C$56.00 price objective on Enbridge and gave the company an “outperform” rating in a research report on Friday, January 5th. Six research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of C$53.59.

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.