Enbridge Inc. (NYSE:ENB) Declares Quarterly Dividend of $0.68

Enbridge Inc. (NYSE:ENB - Get Free Report) TSE: ENB declared a quarterly dividend on Friday, April 25th, Wall Street Journal reports. Shareholders of record on Thursday, May 15th will be given a dividend of 0.679 per share by the pipeline company on Sunday, June 1st. This represents a $2.72 dividend on an annualized basis and a yield of 5.82%. The ex-dividend date of this dividend is Thursday, May 15th. This is a 1.3% increase from Enbridge's previous quarterly dividend of $0.67.

Enbridge has increased its dividend payment by an average of 2.9% annually over the last three years. Enbridge has a payout ratio of 115.0% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Enbridge to earn $2.18 per share next year, which means the company may not be able to cover its $2.61 annual dividend with an expected future payout ratio of 119.7%.

Enbridge Stock Performance

Shares of NYSE:ENB remained flat at $46.64 during midday trading on Tuesday. 2,396,409 shares of the company were exchanged, compared to its average volume of 4,225,037. The stock has a 50-day simple moving average of $43.42 and a 200 day simple moving average of $43.02. 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 stock has a market capitalization of $101.68 billion, a PE ratio of 27.12, a P/E/G ratio of 3.92 and a beta of 0.80. Enbridge has a 52 week low of $34.60 and a 52 week high of $46.85.

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

Analyst Ratings Changes

A number of brokerages have recently issued reports on ENB. TD Securities started coverage on shares of Enbridge in a report on Wednesday, January 15th. They issued a "buy" rating on the stock. Raymond James upgraded shares of Enbridge to a "moderate buy" rating in a research report on Wednesday, April 23rd. CIBC restated an "outperform" rating on shares of Enbridge in a research report on Wednesday, March 5th. Royal Bank of Canada raised their price objective on shares of Enbridge from $63.00 to $67.00 and gave the company an "outperform" rating in a research report on Tuesday, February 18th. Finally, Citigroup assumed coverage on shares of Enbridge in a research report on Friday, April 4th. They set a "buy" rating on the stock. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $67.00.

Hedge Funds Weigh In On Enbridge

An institutional investor recently bought a new position in Enbridge stock. Brighton Jones LLC acquired a new stake in Enbridge Inc. (NYSE:ENB - Free Report) TSE: ENB during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 6,151 shares of the pipeline company's stock, valued at approximately $261,000. 54.60% of the stock is currently owned by hedge funds and other institutional investors.

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.