Enbridge (NYSE:ENB) Sets New 52-Week High After Dividend Announcement

Shares of Enbridge Inc. (NYSE:ENB - Get Free Report) TSE: ENB hit a new 52-week high during trading on Friday after the company announced a dividend. The stock traded as high as $46.42 and last traded at $46.37, with a volume of 5078303 shares traded. The stock had previously closed at $45.61.

The newly announced dividend which will be paid on Sunday, June 1st. Shareholders of record on Thursday, May 15th will be given a $0.679 dividend. This represents a $2.72 annualized dividend and a yield of 5.82%. The ex-dividend date is Thursday, May 15th. This is an increase from Enbridge's previous quarterly dividend of $0.67. Enbridge's dividend payout ratio is 157.56%.

Wall Street Analysts Forecast Growth

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

Enbridge Price Performance

The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.54 and a current ratio of 0.55. The firm has a market capitalization of $101.79 billion, a PE ratio of 27.19, a P/E/G ratio of 3.92 and a beta of 0.80. The stock has a fifty day moving average price of $43.42 and a 200-day moving average price of $43.02.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last released its quarterly earnings results on Friday, February 14th. The pipeline company reported $0.75 EPS for the quarter, beating the consensus estimate of $0.52 by $0.23. The business had revenue of $11.59 billion during the quarter, compared to analyst estimates of $4.78 billion. Enbridge had a net margin of 10.04% and a return on equity of 10.16%. During the same period in the prior year, the firm posted $0.64 earnings per share. Sell-side analysts forecast that Enbridge Inc. will post 2.14 EPS for the current fiscal year.

Institutional Investors Weigh In On Enbridge

A number of large investors have recently modified their holdings of the business. Garde Capital Inc. acquired a new stake in shares of Enbridge during the first quarter worth $26,000. McIlrath & Eck LLC boosted its position in Enbridge by 74.9% in the third quarter. McIlrath & Eck LLC now owns 689 shares of the pipeline company's stock valued at $28,000 after buying an additional 295 shares during the last quarter. Albion Financial Group UT acquired a new position in Enbridge in the 4th quarter worth approximately $29,000. Wintrust Investments LLC raised its position in Enbridge by 47.8% during the 4th quarter. Wintrust Investments LLC now owns 736 shares of the pipeline company's stock worth $31,000 after buying an additional 238 shares during the last quarter. Finally, GeoWealth Management LLC boosted its holdings in shares of Enbridge by 436.4% in the 4th quarter. GeoWealth Management LLC now owns 751 shares of the pipeline company's stock valued at $32,000 after acquiring an additional 611 shares during the last quarter. Hedge funds and other institutional investors own 54.60% of the company's stock.

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.