Enbridge Inc. (TSE:ENB) Receives Average Recommendation of "Hold" from Analysts

Key Points

• Analyst consensus is “Hold”: Eight of 11 analysts rate Enbridge shares a hold, while three recommend buying. The average 12-month price target is C$76.00, compared with an opening price of C$69.49.
• Recent analyst actions were mixed but generally increased price targets, with Scotiabank raising its target to C$84.00 and RBC to C$79.00, while Raymond James downgraded the stock to “Hold.”
• Enbridge announced a quarterly dividend of $0.97 per share, representing a 5.6% yield and $3.88 annualized payout, although its dividend payout ratio was reported at 147.68%.

Shares of Enbridge Inc. (TSE:ENB - Get Free Report) NYSE: ENB have earned an average rating of "Hold" from the eleven research firms that are covering the company, Marketbeat.com reports. Eight research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is C$76.00.

ENB has been the subject of several recent research reports. Scotiabank raised 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 upped 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 increased their price target on Enbridge from C$73.00 to C$81.00 and gave the stock a "sector perform" rating in a research report on Monday, June 1st. TD lifted their price objective on Enbridge from C$79.00 to C$81.00 and gave the company a "hold" rating in a research note on Thursday, June 25th. Finally, Raymond James Financial cut Enbridge from a "moderate buy" rating to a "hold" rating in a report on Friday, July 31st.

Enbridge Price Performance

Shares of TSE:ENB opened at C$69.49 on Thursday. Enbridge has a twelve month low of C$62.42 and a twelve month high of C$80.65. The company has a current ratio of 0.72, a quick ratio of 0.44 and a debt-to-equity ratio of 171.59. The company has a market cap of C$151.77 billion, a PE ratio of 26.83, a price-to-earnings-growth ratio of 1.72 and a beta of 0.74. The company's 50 day moving average is C$76.55 and its 200 day moving average is C$74.82.

Enbridge (TSE:ENB - Get Free Report) NYSE: ENB last announced its quarterly earnings data on Friday, July 31st. The company reported C$0.63 EPS for the quarter. The business had revenue of C$29.32 billion during the quarter. Enbridge had a net margin of 7.28% and a return on equity of 10.01%. On average, sell-side analysts forecast that Enbridge will post 3.511912 EPS for the current year.

Enbridge Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Tuesday, September 1st will be issued a dividend of $0.97 per share. This represents a $3.88 annualized dividend and a yield of 5.6%. The ex-dividend date of this dividend is Friday, August 14th. Enbridge's dividend payout ratio (DPR) is 147.68%.

Insiders Place Their Bets

In related news, insider Melissa Marie Laforge sold 855 shares of Enbridge 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 transaction of C$68,536.80. Following the completion of the transaction, the insider directly owned 7,904 shares in the company, valued at approximately C$633,584.64. This trade represents a 9.76% decrease in their ownership of the stock. Corporate insiders own 0.10% of the company's stock.

Enbridge Company Profile

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.

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