Enbridge (NYSE:ENB) Issues Earnings Results

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB released its quarterly earnings results on Friday. The pipeline company reported $0.72 EPS for the quarter, topping the consensus estimate of $0.68 by $0.04, Zacks reports. The business had revenue of $7.27 billion during the quarter, compared to analyst estimates of $10.20 billion. Enbridge had a return on equity of 10.16% and a net margin of 10.04%. During the same period last year, the business posted $0.92 earnings per share.

Enbridge Stock Performance

Shares of ENB stock opened at $46.10 on Friday. The stock's 50-day moving average is $44.24 and its two-hundred day moving average is $43.31. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.54 and a current ratio of 0.55. Enbridge has a 1 year low of $34.60 and a 1 year high of $47.08. The firm has a market cap of $100.50 billion, a price-to-earnings ratio of 26.80, a PEG ratio of 3.92 and a beta of 0.84.

Enbridge Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Sunday, June 1st. Investors of record on Thursday, May 15th will be given a $0.679 dividend. The ex-dividend date of this dividend is Thursday, May 15th. This is a boost from Enbridge's previous quarterly dividend of $0.67. This represents a $2.72 dividend on an annualized basis and a yield of 5.89%. Enbridge's payout ratio is 157.56%.

Institutional Trading of Enbridge

A hedge fund recently bought a new stake in Enbridge stock. Brighton Jones LLC purchased a new stake in Enbridge Inc. (NYSE:ENB - Free Report) TSE: ENB during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 6,151 shares of the pipeline company's stock, valued at approximately $261,000. 54.60% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on ENB. TD Securities began coverage on Enbridge in a research report on Wednesday, January 15th. They issued a "buy" rating for the company. CIBC reiterated an "outperform" rating on shares of Enbridge in a research note on Wednesday, March 5th. Royal Bank of Canada raised their target price on shares of Enbridge from $63.00 to $67.00 and gave the company an "outperform" rating in a report on Tuesday, February 18th. Raymond James upgraded shares of Enbridge to a "moderate buy" rating in a report on Wednesday, April 23rd. Finally, Citigroup started coverage on shares of Enbridge in a report on Friday, April 4th. They issued a "buy" rating on the stock. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $67.00.

About Enbridge

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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