Enbridge Inc (NYSE:ENB) Receives $60.50 Average Target Price from Brokerages

Key Points

• Enbridge Inc has received a consensus rating of "Moderate Buy" from eleven research firms, including four "hold," six "buy," and one "strong buy" recommendation.
• The company's stock recently increased by 1.2% and has a current price target average of $60.50 among brokerages.
• Enbridge declared a quarterly dividend of $0.6839 per share, resulting in an annualized yield of 5.7% for shareholders.

Shares of Enbridge Inc (NYSE:ENB - Get Free Report) TSE: ENB have earned a consensus rating of "Moderate Buy" from the eleven brokerages that are covering the company, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $60.50.

A number of equities analysts have recently issued reports on the company. Zacks Research upgraded Enbridge from a "hold" rating to a "strong-buy" rating in a report on Friday, August 15th. National Bankshares reiterated a "sector perform" rating on shares of Enbridge in a report on Tuesday, August 5th. Jefferies Financial Group upgraded Enbridge from a "hold" rating to a "buy" rating in a report on Wednesday, July 23rd. Wall Street Zen lowered Enbridge from a "hold" rating to a "sell" rating in a research report on Saturday, August 30th. Finally, Argus raised their price objective on Enbridge from $50.00 to $54.00 and gave the company a "buy" rating in a research report on Tuesday, August 12th.

Institutional Investors Weigh In On Enbridge

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Osaic Holdings Inc. raised its holdings in Enbridge by 17.1% during the second quarter. Osaic Holdings Inc. now owns 603,465 shares of the pipeline company's stock valued at $27,276,000 after acquiring an additional 88,215 shares during the period. Orion Porfolio Solutions LLC increased its holdings in shares of Enbridge by 3.5% in the second quarter. Orion Porfolio Solutions LLC now owns 55,875 shares of the pipeline company's stock worth $2,532,000 after purchasing an additional 1,900 shares during the last quarter. Thrivent Financial for Lutherans increased its holdings in shares of Enbridge by 3.6% in the second quarter. Thrivent Financial for Lutherans now owns 52,707 shares of the pipeline company's stock worth $2,366,000 after purchasing an additional 1,819 shares during the last quarter. Neuberger Berman Group LLC increased its holdings in shares of Enbridge by 12.8% in the second quarter. Neuberger Berman Group LLC now owns 1,390,303 shares of the pipeline company's stock worth $62,968,000 after purchasing an additional 157,390 shares during the last quarter. Finally, Pathway Financial Advisers LLC increased its holdings in shares of Enbridge by 2.0% in the second quarter. Pathway Financial Advisers LLC now owns 119,144 shares of the pipeline company's stock worth $5,400,000 after purchasing an additional 2,337 shares during the last quarter. 54.60% of the stock is owned by institutional investors.

Enbridge Stock Performance

Shares of NYSE:ENB traded down $0.10 during midday trading on Monday, reaching $48.23. 1,152,525 shares of the company traded hands, compared to its average volume of 3,976,293. The company has a quick ratio of 0.65, a current ratio of 0.75 and a debt-to-equity ratio of 1.58. Enbridge has a 12 month low of $39.73 and a 12 month high of $48.59. The firm has a market capitalization of $105.16 billion, a price-to-earnings ratio of 23.77, a price-to-earnings-growth ratio of 4.42 and a beta of 0.80. The firm's fifty day moving average price is $46.14 and its two-hundred day moving average price is $45.05.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last released its quarterly earnings data on Friday, August 1st. The pipeline company reported $0.47 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.41 by $0.06. Enbridge had a return on equity of 10.77% and a net margin of 10.11%.The company had revenue of $7.14 billion for the quarter, compared to analyst estimates of $10.56 billion. During the same period in the previous year, the company posted $0.58 EPS. On average, equities analysts expect that Enbridge will post 2.14 earnings per share for the current year.

Enbridge Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 1st. Stockholders of record on Friday, August 15th were paid a $0.6839 dividend. This is an increase from Enbridge's previous quarterly dividend of $0.68. The ex-dividend date was Friday, August 15th. This represents a $2.74 dividend on an annualized basis and a dividend yield of 5.7%. Enbridge's dividend payout ratio (DPR) is 134.98%.

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.