Enbridge Inc. (TSE:ENB) Declares $0.94 Quarterly Dividend

Key Points

• Enbridge Inc. announced a quarterly dividend of $0.94 per share, payable on September 1st, which equates to an annualized dividend of $3.77 and a yield of 6.15%.
• The company's stock opened at C$61.33 and currently has a market cap of C$132.92 billion, with a price-to-earnings ratio of 19.94.
• Research analysts have provided a consensus rating of "Moderate Buy" for Enbridge, with a target price averaging C$66.50.

Enbridge Inc. (TSE:ENB - Get Free Report) NYSE: ENB declared a quarterly dividend on Tuesday, July 29th, RTT News reports. Stockholders of record on Friday, August 15th will be given a dividend of 0.9425 per share on Monday, September 1st. This represents a $3.77 dividend on an annualized basis and a dividend yield of 6.06%.

Enbridge Trading Up 0.3%

Shares of TSE ENB traded up C$0.17 during mid-day trading on Wednesday, reaching C$62.25. The company had a trading volume of 3,395,697 shares, compared to its average volume of 8,462,095. The business's 50-day moving average is C$62.16 and its 200-day moving average is C$62.39. The company has a current ratio of 0.62, a quick ratio of 0.44 and a debt-to-equity ratio of 144.86. The stock has a market cap of C$134.91 billion, a price-to-earnings ratio of 20.24, a price-to-earnings-growth ratio of 1.72 and a beta of 0.90. Enbridge has a 52 week low of C$51.21 and a 52 week high of C$65.62.

Insiders Place Their Bets

In other news, Senior Officer Maximilian Chan sold 801 shares of the firm's stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of C$63.17, for a total transaction of C$50,599.17. 0.10% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have issued reports on ENB. Jefferies Financial Group upgraded shares of Enbridge from a "hold" rating to a "buy" rating and increased their target price for the stock from C$65.00 to C$72.00 in a report on Wednesday, July 23rd. BMO Capital Markets increased their target price on shares of Enbridge from C$60.00 to C$63.00 in a report on Monday, May 12th. Echelon Wealth Partners increased their target price on shares of Enbridge from C$67.00 to C$74.00 in a report on Wednesday, April 23rd. Citigroup set a C$75.00 price target on shares of Enbridge and gave the company a "buy" rating in a report on Friday, April 4th. Finally, Raymond James Financial upgraded shares of Enbridge to a "moderate buy" rating in a report on Wednesday, April 23rd. Four analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat, Enbridge has a consensus rating of "Moderate Buy" and a consensus price target of C$66.50.

Enbridge Company Profile

Enbridge owns extensive midstream assets that transport hydrocarbons across the U.S. and Canada. Its pipeline network consists of the Canadian Mainline system, regional oil sands pipelines, and natural gas pipelines. The company also owns and operates a regulated natural gas utility and Canada's largest natural gas distribution company.