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

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 Friday, August 15th, RTT News reports. Shareholders of record on Monday, September 1st will be given a dividend of 0.9425 per share on Monday, September 1st. This represents a c) annualized dividend and a yield of 5.9%. The ex-dividend date is Friday, August 15th.

Enbridge Price Performance

Enbridge stock traded up C$0.98 during trading hours on Friday, hitting C$63.73. 12,780,565 shares of the company traded hands, compared to its average volume of 8,468,648. The firm has a market cap of C$138.12 billion, a P/E ratio of 20.72, a P/E/G ratio of 1.72 and a beta of 0.90. The company has a quick ratio of 0.44, a current ratio of 0.62 and a debt-to-equity ratio of 144.86. The firm's 50-day simple moving average is C$62.17 and its two-hundred day simple moving average is C$62.40. Enbridge has a 1-year low of C$51.21 and a 1-year high of C$65.62.

Analysts Set New Price Targets

ENB has been the topic of several research analyst reports. Citigroup set a C$75.00 target price on shares of Enbridge and gave the company a "buy" rating in a research note on Friday, April 4th. Raymond James Financial upgraded shares of Enbridge to a "moderate buy" rating in a research report on Wednesday, April 23rd. BMO Capital Markets raised their price objective on shares of Enbridge from C$60.00 to C$63.00 in a research report on Monday, May 12th. Echelon Wealth Partners raised their price objective on shares of Enbridge from C$67.00 to C$74.00 in a research report on Wednesday, April 23rd. Finally, Jefferies Financial Group upgraded shares of Enbridge from a "hold" rating to a "buy" rating and raised their price objective for the company from C$65.00 to C$72.00 in a research report on Wednesday, July 23rd. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, Enbridge has an average rating of "Moderate Buy" and a consensus target price 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.