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.
Enbridge Price Performance
Shares of NYSE:ENB traded down $0.09 during mid-day trading on Friday, reaching $43.51. The stock had a trading volume of 6,153,115 shares, compared to its average volume of 2,846,264. The company has a current ratio of 0.58, a quick ratio of 0.49 and a debt-to-equity ratio of 1.21. The company has a market cap of $88.10 billion, a P/E ratio of 22.90, a price-to-earnings-growth ratio of 3.18 and a beta of 0.78. Enbridge has a 1 year low of $36.21 and a 1 year high of $47.67. The business's 50 day moving average price is $43.08 and its 200 day moving average price is $43.91.
Enbridge (NYSE:ENB - Get Rating) (TSE:ENB) last posted its earnings results on Friday, July 29th. The pipeline company reported $0.67 EPS for the quarter, topping analysts' consensus estimates of $0.57 by $0.10. Enbridge had a return on equity of 10.46% and a net margin of 9.98%. During the same period in the prior year, the company earned $0.55 EPS. Research analysts expect that Enbridge will post 2.32 EPS for the current fiscal year.
Enbridge Cuts Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, September 1st. Investors of record on Monday, August 15th will be given a $0.668 dividend. The ex-dividend date is Friday, August 12th. This represents a $2.67 dividend on an annualized basis and a dividend yield of 6.14%. Enbridge's dividend payout ratio is currently 140.00%.
Wall Street Analysts Forecast Growth
ENB has been the subject of several recent research reports. Royal Bank of Canada boosted their price target on Enbridge from C$60.00 to C$65.00 in a report on Monday, May 9th. Morgan Stanley boosted their price target on Enbridge from C$60.00 to C$67.00 in a report on Tuesday, April 26th. Scotiabank boosted their price target on Enbridge from C$58.00 to C$62.00 in a report on Tuesday, April 19th. Industrial Alliance Securities raised Enbridge from a "hold" rating to a "buy" rating and set a C$60.00 price target for the company in a report on Wednesday, August 3rd. Finally, Raymond James boosted their price target on Enbridge from C$55.00 to C$57.00 in a report on Tuesday, August 2nd. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, Enbridge currently has an average rating of "Moderate Buy" and an average target price of $58.46.