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

Shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) have received an average rating of “Hold” from the eleven analysts that are currently covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, six have issued a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $55.20.

ENB has been the subject of a number of research reports. Jefferies Financial Group initiated coverage on shares of Enbridge in a research note on Tuesday, February 27th. They set a “buy” rating for the company. Stifel Nicolaus initiated coverage on shares of Enbridge in a research note on Thursday, January 18th. They set a “hold” rating for the company.

Enbridge Price Performance

Shares of NYSE ENB opened at $36.27 on Friday. Enbridge has a twelve month low of $31.03 and a twelve month high of $40.30. The firm has a market cap of $77.11 billion, a P/E ratio of 17.27, a PEG ratio of 3.34 and a beta of 0.84. The company has a 50 day moving average of $35.16 and a 200 day moving average of $34.78. The company has a quick ratio of 0.74, a current ratio of 0.83 and a debt-to-equity ratio of 1.30.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings data on Friday, February 9th. The pipeline company reported $0.47 earnings per share for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.03). Enbridge had a return on equity of 10.23% and a net margin of 13.97%. The firm had revenue of $8.37 billion during the quarter, compared to analysts’ expectations of $9.62 billion. As a group, research analysts expect that Enbridge will post 2.14 EPS for the current fiscal year.

Enbridge Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Stockholders of record on Wednesday, May 15th will be given a dividend of $0.677 per share. This is an increase from Enbridge’s previous quarterly dividend of $0.66. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $2.71 dividend on an annualized basis and a dividend yield of 7.47%. Enbridge’s payout ratio is presently 129.05%.

Institutional Investors Weigh In On Enbridge

Hedge funds have recently modified their holdings of the business. BOK Financial Private Wealth Inc. bought a new stake in shares of Enbridge during the 4th quarter valued at $25,000. Baystate Wealth Management LLC boosted its holdings in Enbridge by 836.4% in the 4th quarter. Baystate Wealth Management LLC now owns 721 shares of the pipeline company’s stock worth $26,000 after buying an additional 644 shares during the period. Tennessee Valley Asset Management Partners bought a new position in Enbridge in the 4th quarter worth $28,000. Financial Gravity Asset Management Inc. boosted its holdings in Enbridge by 2,294.6% in the 3rd quarter. Financial Gravity Asset Management Inc. now owns 886 shares of the pipeline company’s stock worth $29,000 after buying an additional 849 shares during the period. Finally, PFS Partners LLC boosted its holdings in Enbridge by 95.8% in the 1st quarter. PFS Partners LLC now owns 922 shares of the pipeline company’s stock worth $33,000 after buying an additional 451 shares during the period. Institutional investors own 54.60% of the company’s stock.

About Enbridge

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.