Enbridge (NYSE:ENB) Hits New 1-Year High - Still a Buy?

Key Points

• Enbridge's stock reached a new **52-week high** of **$47.49** during trading, representing a strong performance with **1,259,264 shares** traded.
• Analysts have a **consensus rating of "Moderate Buy"** for Enbridge, with an average price target of **$67.00**, backed by several upgrades from major financial institutions.
• The company declared a **quarterly dividend increase** to **$0.6839 per share**, resulting in a **5.8% yield**, with a **dividend payout ratio** of **134.98%**.

Enbridge Inc (NYSE:ENB - Get Free Report) TSE: ENB's stock price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $47.49 and last traded at $47.44, with a volume of 1259264 shares trading hands. The stock had previously closed at $46.99.

Wall Street Analysts Forecast Growth

ENB has been the subject of several recent analyst reports. National Bankshares reaffirmed a "sector perform" rating on shares of Enbridge in a research note on Tuesday, August 5th. Jefferies Financial Group raised shares of Enbridge from a "hold" rating to a "buy" rating in a research report on Wednesday, July 23rd. Wall Street Zen upgraded shares of Enbridge from a "sell" rating to a "hold" rating in a research report on Thursday, May 22nd. BMO Capital Markets restated a "market perform" rating on shares of Enbridge in a report on Monday, May 12th. Finally, Royal Bank Of Canada reiterated an "outperform" rating and set a $67.00 price objective on shares of Enbridge in a report on Monday, May 12th. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $67.00.

Enbridge Stock Up 1.1%

The company has a market cap of $103.60 billion, a price-to-earnings ratio of 23.41, a price-to-earnings-growth ratio of 4.32 and a beta of 0.79. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.65 and a current ratio of 0.75. The stock's fifty day moving average is $45.48 and its two-hundred day moving average is $44.63.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last announced its earnings results on Friday, August 1st. The pipeline company reported $0.47 EPS for the quarter, beating the consensus estimate of $0.41 by $0.06. The company had revenue of $7.14 billion during the quarter, compared to the consensus estimate of $10.56 billion. Enbridge had a net margin of 10.11% and a return on equity of 10.77%. During the same quarter in the prior year, the company posted $0.58 earnings per share. Sell-side analysts predict that Enbridge Inc will post 2.14 earnings per share for the current fiscal year.

Enbridge Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 1st. Investors of record on Friday, August 15th will be given a dividend of $0.6839 per share. The ex-dividend date is Friday, August 15th. This is an increase from Enbridge's previous quarterly dividend of $0.68. This represents a $2.74 annualized dividend and a yield of 5.8%. Enbridge's dividend payout ratio (DPR) is currently 134.98%.

Institutional Trading of Enbridge

Hedge funds have recently added to or reduced their stakes in the stock. Dagco Inc. bought a new stake in shares of Enbridge in the first quarter valued at approximately $25,000. Garde Capital Inc. bought a new stake in Enbridge during the 1st quarter valued at $26,000. Whipplewood Advisors LLC lifted its position in shares of Enbridge by 112.4% during the second quarter. Whipplewood Advisors LLC now owns 582 shares of the pipeline company's stock worth $26,000 after acquiring an additional 308 shares in the last quarter. Financial Gravity Asset Management Inc. bought a new position in shares of Enbridge in the first quarter worth $28,000. Finally, Financial Gravity Companies Inc. bought a new position in shares of Enbridge in the second quarter worth $29,000. Institutional investors own 54.60% of the company's stock.

Enbridge Company Profile

Enbridge Inc, together with its subsidiaries, operates as an energy infrastructure company. The company operates through five segments: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution and Storage, Renewable Power Generation, and Energy Services. The Liquids Pipelines segment operates pipelines and related terminals to transport various grades of crude oil and other liquid hydrocarbons in Canada and the United States.

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