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

Key Points

• Enbridge has an average analyst rating of "Moderate Buy" from 12 firms, with a consensus 12-month price target of C$76.00.
• Several brokers recently raised their targets, including Scotiabank to C$84 and RBC to C$79, reflecting improving sentiment around the stock.
• The company pays a quarterly dividend that works out to an annualized C$3.88 per share, for a yield of 4.8%, though its payout ratio is high at 128.73%.

Shares of Enbridge Inc. (TSE:ENB - Get Free Report) NYSE: ENB have earned an average recommendation of "Moderate Buy" from the twelve ratings firms that are presently covering the stock, Marketbeat.com reports. Seven investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is C$76.00.

A number of analysts have weighed in on ENB shares. Scotiabank increased their target price on shares of Enbridge from C$78.00 to C$84.00 and gave the stock a "sector outperform" rating in a report on Tuesday, July 21st. Royal Bank Of Canada lifted their price target on shares of Enbridge from C$76.00 to C$79.00 and gave the company an "outperform" rating in a report on Monday, May 11th. National Bank Financial lifted their price target on shares of Enbridge from C$73.00 to C$81.00 and gave the company a "sector perform" rating in a report on Monday, June 1st. Barclays boosted their price objective on shares of Enbridge from C$68.00 to C$73.00 in a research report on Tuesday, April 7th. Finally, TD increased their price objective on shares of Enbridge from C$79.00 to C$81.00 and gave the stock a "hold" rating in a research note on Thursday, June 25th.

Enbridge Price Performance

Shares of TSE ENB opened at C$80.21 on Friday. The company has a current ratio of 0.81, a quick ratio of 0.44 and a debt-to-equity ratio of 168.58. The company has a market capitalization of C$175.15 billion, a price-to-earnings ratio of 27.19, a price-to-earnings-growth ratio of 1.72 and a beta of 0.73. Enbridge has a twelve month low of C$61.22 and a twelve month high of C$80.65. The business has a 50 day simple moving average of C$78.14 and a 200-day simple moving average of C$73.65.

Enbridge (TSE:ENB - Get Free Report) NYSE: ENB last announced its quarterly earnings data on Friday, May 8th. The company reported C$0.98 earnings per share (EPS) for the quarter. The firm had revenue of C$22.36 billion for the quarter. Enbridge had a return on equity of 11.11% and a net margin of 9.43%. As a group, equities research analysts expect that Enbridge will post 3.511912 earnings per share for the current year.

Enbridge Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Monday, June 1st were issued a dividend of $0.97 per share. The ex-dividend date of this dividend was Friday, May 15th. This represents a $3.88 annualized dividend and a dividend yield of 4.8%. Enbridge's dividend payout ratio is 128.73%.

Insider Buying and Selling

In related news, insider Melissa Marie Laforge sold 855 shares of the firm's stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of C$80.16, for a total value of C$68,536.80. Following the sale, the insider owned 7,904 shares of the company's stock, valued at approximately C$633,584.64. This trade represents a 9.76% decrease in their position. Also, Director Mayank Mulraj Ashar sold 3,000 shares of the business's stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of C$78.87, for a total value of C$236,610.00. Following the transaction, the director owned 42,000 shares of the company's stock, valued at C$3,312,540. This represents a 6.67% decrease in their position. Insiders have sold a total of 8,855 shares of company stock worth $695,547 over the last quarter. Insiders own 0.10% of the company's stock.

About Enbridge

At Enbridge, we safely connect millions of people to the energy they rely on every day, fueling quality of life through our North American natural gas, oil and renewable power networks and our growing European offshore wind portfolio. We're investing in modern energy delivery infrastructure to sustain access to secure, affordable energy and building on more than a century of operating conventional energy infrastructure and two decades of experience in renewable power. We're advancing new technologies including hydrogen, renewable natural gas, and carbon capture and storage.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.