Enbridge Inc. (NYSE:ENB) Announces Quarterly Dividend of $0.68

Enbridge Inc. (NYSE:ENB) (TSE:ENB) announced a quarterly dividend on Wednesday, October 30th,Zacks Dividends reports. Stockholders of record on Friday, November 15th will be given a dividend of 0.676 per share by the pipeline company on Sunday, December 1st. This represents a $2.70 dividend on an annualized basis and a dividend yield of 6.36%. The ex-dividend date is Friday, November 15th. This is a boost from Enbridge’s previous quarterly dividend of $0.67.

Enbridge has raised its dividend by an average of 3.6% annually over the last three years. Enbridge has a payout ratio of 121.2% meaning 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 $2.14 per share next year, which means the company may not be able to cover its $2.63 annual dividend with an expected future payout ratio of 122.9%.

Enbridge Stock Performance

ENB opened at $42.51 on Thursday. The stock’s 50 day simple moving average is $41.01 and its 200 day simple moving average is $38.32. The stock has a market cap of $92.56 billion, a P/E ratio of 19.68, a P/E/G ratio of 4.10 and a beta of 0.93. Enbridge has a 1-year low of $32.76 and a 1-year high of $43.00. The company has a debt-to-equity ratio of 1.41, a current ratio of 0.62 and a quick ratio of 0.54.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings results on Friday, November 1st. The pipeline company reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.40 by $0.15. Enbridge had a return on equity of 9.94% and a net margin of 13.54%. The business had revenue of $10.91 billion during the quarter, compared to analysts’ expectations of $4.54 billion. During the same quarter last year, the business posted $0.46 earnings per share. As a group, equities analysts anticipate that Enbridge will post 2.06 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms recently commented on ENB. Morgan Stanley initiated coverage on Enbridge in a research note on Friday, October 25th. They issued an “equal weight” rating for the company. Jefferies Financial Group downgraded shares of Enbridge from a “buy” rating to a “hold” rating in a research note on Monday, September 30th. Finally, Wells Fargo & Company raised shares of Enbridge from an “underweight” rating to an “equal weight” rating in a research report on Wednesday, November 6th.

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.