Enbridge Inc. (TSE:ENB) Given Average Recommendation of "Moderate Buy" by Brokerages

Key Points

• Enbridge Inc. has received an average recommendation of "Moderate Buy" from twelve research firms, with seven hold ratings, four buy ratings, and one strong buy rating.
• The current average target price for Enbridge shares is C$67.80, reflecting a cautious optimism among analysts despite the stock being down 1.1% recently.
• Enbridge recently declared a quarterly dividend of $0.9425 per share, resulting in an annualized dividend yield of 5.7% and a payout ratio of 130.81%.

Enbridge Inc. (TSE:ENB - Get Free Report) NYSE: ENB has earned an average recommendation of "Moderate Buy" from the twelve research firms that are covering the firm, MarketBeat reports. Seven investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is C$67.80.

Several research firms recently issued reports on ENB. Argus upgraded shares of Enbridge to a "strong-buy" rating in a research report on Tuesday, August 12th. Cibc World Mkts cut shares of Enbridge from a "strong-buy" rating to a "hold" rating in a research note on Thursday, October 9th. Barclays lifted their price target on shares of Enbridge from C$65.00 to C$68.00 and gave the company an "equal weight" rating in a research report on Monday, October 6th. National Bankshares upped their price objective on Enbridge from C$64.00 to C$65.00 and gave the company a "sector perform" rating in a report on Tuesday, August 5th. Finally, ATB Capital increased their price objective on Enbridge from C$66.00 to C$67.00 and gave the stock an "outperform" rating in a research report on Tuesday, August 5th.

Enbridge Stock Down 1.1%

TSE ENB opened at C$65.98 on Friday. The business's fifty day simple moving average is C$67.27 and its 200-day simple moving average is C$64.20. 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 has a market cap of C$143.87 billion, a PE ratio of 23.23, a P/E/G ratio of 1.72 and a beta of 0.89. Enbridge has a 52 week low of C$55.53 and a 52 week high of C$70.39.

Enbridge Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 1st. Stockholders of record on Monday, September 1st were issued a dividend of $0.9425 per share. The ex-dividend date was Friday, August 15th. This represents a $3.77 dividend on an annualized basis and a dividend yield of 5.7%. Enbridge's dividend payout ratio is currently 130.81%.

About Enbridge

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.

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