Enbridge Inc. (NYSE:ENB) Receives $67.00 Average PT from Analysts

Enbridge Inc. (NYSE:ENB - Get Free Report) TSE: ENB has earned an average recommendation of "Moderate Buy" from the seven analysts that are presently covering the company, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 12-month target price among brokers that have covered the stock in the last year is $67.00.

Several research analysts have recently weighed in on the company. TD Securities began coverage on Enbridge in a research note on Wednesday, January 15th. They set a "buy" rating for the company. Raymond James upgraded shares of Enbridge to a "moderate buy" rating in a research report on Wednesday, April 23rd. Citigroup initiated coverage on Enbridge in a report on Friday, April 4th. They set a "buy" rating for the company. CIBC reaffirmed an "outperform" rating on shares of Enbridge in a research note on Wednesday, March 5th. Finally, Royal Bank of Canada boosted their price target on Enbridge from $63.00 to $67.00 and gave the stock an "outperform" rating in a research report on Tuesday, February 18th.

Enbridge Stock Performance

NYSE ENB traded up $0.38 during mid-day trading on Tuesday, reaching $46.86. 3,024,607 shares of the stock were exchanged, compared to its average volume of 4,178,970. Enbridge has a 1 year low of $34.60 and a 1 year high of $47.08. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.54 and a current ratio of 0.55. The business's 50 day moving average is $43.82 and its 200-day moving average is $43.14. The company has a market capitalization of $102.16 billion, a P/E ratio of 27.24, a P/E/G ratio of 3.92 and a beta of 0.80.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last posted its earnings results on Friday, February 14th. The pipeline company reported $0.75 EPS for the quarter, beating analysts' consensus estimates of $0.52 by $0.23. The firm had revenue of $11.59 billion for the quarter, compared to analysts' expectations of $4.78 billion. Enbridge had a return on equity of 10.16% and a net margin of 10.04%. During the same period last year, the firm earned $0.64 EPS. On average, equities research analysts forecast that Enbridge will post 2.14 EPS for the current fiscal year.

Enbridge Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Sunday, June 1st. Stockholders of record on Thursday, May 15th will be given a $0.679 dividend. The ex-dividend date of this dividend is Thursday, May 15th. This is a positive change from Enbridge's previous quarterly dividend of $0.67. This represents a $2.72 dividend on an annualized basis and a dividend yield of 5.80%. Enbridge's dividend payout ratio is 157.56%.

Hedge Funds Weigh In On Enbridge

A number of institutional investors have recently added to or reduced their stakes in the stock. Forte Capital LLC ADV raised its stake in Enbridge by 6.4% during the first quarter. Forte Capital LLC ADV now owns 52,728 shares of the pipeline company's stock worth $2,336,000 after purchasing an additional 3,167 shares during the period. Graypoint LLC acquired a new position in Enbridge during the first quarter worth $358,000. Triasima Portfolio Management inc. raised its holdings in shares of Enbridge by 72.5% in the 1st quarter. Triasima Portfolio Management inc. now owns 229,066 shares of the pipeline company's stock valued at $10,137,000 after buying an additional 96,255 shares during the period. Cullen Frost Bankers Inc. raised its holdings in shares of Enbridge by 62.1% in the 1st quarter. Cullen Frost Bankers Inc. now owns 1,621 shares of the pipeline company's stock valued at $72,000 after buying an additional 621 shares during the period. Finally, Capital A Wealth Management LLC lifted its stake in Enbridge by 48.0% during the 1st quarter. Capital A Wealth Management LLC now owns 1,362 shares of the pipeline company's stock worth $60,000 after acquiring an additional 442 shares in the last quarter. Hedge funds and other institutional investors own 54.60% of the company's stock.

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.