Enbridge Inc. (NYSE:ENB) Raises Dividend to $0.68 Per Share

Enbridge Inc. (NYSE:ENB - Get Free Report) TSE: ENB declared a quarterly dividend on Wednesday, April 24th, Zacks reports. Stockholders of record on Wednesday, May 15th will be paid a dividend of 0.677 per share by the pipeline company on Saturday, June 1st. This represents a $2.71 annualized dividend and a dividend yield of 7.47%. The ex-dividend date is Tuesday, May 14th. This is a positive change from Enbridge's previous quarterly dividend of $0.66.

Enbridge has raised its dividend payment by an average of 2.9% per year over the last three years. Enbridge has a payout ratio of 122.2% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Enbridge to earn $2.24 per share next year, which means the company may not be able to cover its $2.70 annual dividend with an expected future payout ratio of 120.5%.

Enbridge Stock Performance

NYSE ENB traded up $0.61 during trading hours on Thursday, reaching $36.27. The company's stock had a trading volume of 10,010,606 shares, compared to its average volume of 5,786,456. The company has a current ratio of 0.83, a quick ratio of 0.74 and a debt-to-equity ratio of 1.30. The business has a 50-day simple moving average of $35.16 and a 200 day simple moving average of $34.78. Enbridge has a 52 week low of $31.03 and a 52 week high of $40.30. The stock has a market cap of $77.11 billion, a PE ratio of 17.27, a PEG ratio of 3.32 and a beta of 0.84.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last issued its earnings results on Friday, February 9th. The pipeline company reported $0.47 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.50 by ($0.03). Enbridge had a return on equity of 10.23% and a net margin of 13.97%. The business had revenue of $8.37 billion during the quarter, compared to the consensus estimate of $9.62 billion. Equities research analysts predict that Enbridge will post 2.14 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

ENB has been the topic of a number of recent research reports. Jefferies Financial Group initiated coverage on shares of Enbridge in a report on Tuesday, February 27th. They issued a "buy" rating on the stock. Stifel Nicolaus began coverage on shares of Enbridge in a research note on Thursday, January 18th. They issued a "hold" rating on the stock. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, Enbridge presently has an average rating of "Hold" and an average price target of $55.20.

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.