Enbridge Inc. 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. The Gas Transmission and Midstream segment invests in natural gas pipelines, and gathering and processing facilities in Canada and the United States. The Gas Distribution and Storage segment is involved in natural gas utility operations serving residential, commercial, and industrial customers in Ontario, as well as natural gas distribution and energy transportation activities in Quebec. The Renewable Power Generation segment operates power generating assets, such as wind, solar, geothermal, and waste heat recovery facilities; and transmission assets in North America and Europe. The Energy Services segment provides energy marketing services to refiners, producers, and other customers; and physical commodity marketing and logistical services in Canada and the United States. The company was formerly known as IPL Energy Inc. and changed its name to Enbridge Inc. in October 1998. Enbridge Inc. was founded in 1949 and is headquartered in Calgary, Canada.
Analysts Set New Price Targets
ENB has been the subject of a number of recent research reports. Raymond James increased their price objective on Enbridge from C$55.00 to C$57.00 in a report on Tuesday, August 2nd. US Capital Advisors downgraded Enbridge from an "overweight" rating to a "hold" rating in a report on Tuesday, July 26th. Morgan Stanley increased their price objective on Enbridge from C$60.00 to C$67.00 in a report on Tuesday, April 26th. Industrial Alliance Securities upgraded Enbridge from a "hold" rating to a "buy" rating and set a C$60.00 price objective for the company in a report on Wednesday, August 3rd. Finally, TD Securities increased their price objective on Enbridge from C$61.00 to C$62.00 in a report on Monday, May 9th. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, Enbridge has a consensus rating of "Moderate Buy" and an average price target of $58.46.
Enbridge Price Performance
ENB Stock opened at $44.28 on Friday. The stock has a market capitalization of $89.66 billion, a PE ratio of 23.31, a price-to-earnings-growth ratio of 3.11 and a beta of 0.78. The company's 50-day moving average is $43.20 and its 200-day moving average is $43.86. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.58 and a quick ratio of 0.49. Enbridge has a 1 year low of $36.21 and a 1 year high of $47.67.
Enbridge (NYSE:ENB - Get Rating) (TSE:ENB) last released its quarterly earnings data on Friday, July 29th. The pipeline company reported $0.67 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.57 by $0.10. Enbridge had a net margin of 9.98% and a return on equity of 10.46%. During the same quarter in the previous year, the firm posted $0.55 EPS. Equities research analysts expect that Enbridge will post 2.32 EPS for the current fiscal year.
Enbridge Cuts Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 1st. Stockholders of record on Monday, August 15th will be given a dividend of $0.668 per share. The ex-dividend date is Friday, August 12th. This represents a $2.67 dividend on an annualized basis and a dividend yield of 6.03%. Enbridge's dividend payout ratio (DPR) is presently 140.00%.