Enbridge’s (ENB) Outperform Rating Reiterated at Royal Bank of Canada

Royal Bank of Canada reiterated their outperform rating on shares of Enbridge (NYSE:ENB) (TSE:ENB) in a research note issued to investors on Wednesday,Benzinga reports. Royal Bank of Canada currently has a $63.00 target price on the pipeline company’s stock, up from their prior target price of $59.00.

ENB has been the subject of a number of other reports. Jefferies Financial Group downgraded Enbridge from a “buy” rating to a “hold” rating in a report on Monday, September 30th. Morgan Stanley began coverage on Enbridge in a report on Friday, October 25th. They set an “equal weight” rating for the company. Finally, Wells Fargo & Company raised Enbridge from an “underweight” rating to an “equal weight” rating in a report on Wednesday, November 6th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, Enbridge has an average rating of “Hold” and a consensus price target of $63.00.

Enbridge Trading Down 1.8 %

NYSE:ENB opened at $43.14 on Wednesday. The firm has a market cap of $93.95 billion, a PE ratio of 19.97, a price-to-earnings-growth ratio of 4.27 and a beta of 0.94. The stock has a fifty day moving average price of $41.84 and a 200 day moving average price of $39.05. Enbridge has a 12-month low of $32.85 and a 12-month high of $44.13. The company has a current ratio of 0.62, a quick ratio of 0.54 and a debt-to-equity ratio of 1.41.

Enbridge (NYSE:ENB) (TSE:ENB) last released its earnings results on Friday, November 1st. The pipeline company reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.40 by $0.15. The firm had revenue of $10.91 billion during the quarter, compared to analyst estimates of $4.54 billion. Enbridge had a return on equity of 9.94% and a net margin of 13.54%. During the same period last year, the business posted $0.46 earnings per share. Sell-side analysts anticipate that Enbridge will post 2.04 earnings per share for the current fiscal year.

Enbridge Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Saturday, February 15th will be issued a $0.67 dividend. This represents a $2.68 annualized dividend and a dividend yield of 6.21%. The ex-dividend date of this dividend is Friday, February 14th. Enbridge’s payout ratio is currently 121.76%.

Institutional Trading of Enbridge

Several institutional investors and hedge funds have recently made changes to their positions in ENB. Mather Group LLC. lifted its holdings in shares of Enbridge by 29.5% in the 2nd quarter. Mather Group LLC. now owns 4,587 shares of the pipeline company’s stock valued at $166,000 after purchasing an additional 1,046 shares during the last quarter. Kingswood Wealth Advisors LLC lifted its holdings in shares of Enbridge by 34.0% in the 2nd quarter. Kingswood Wealth Advisors LLC now owns 9,479 shares of the pipeline company’s stock valued at $337,000 after purchasing an additional 2,407 shares during the last quarter. Park Avenue Securities LLC lifted its holdings in shares of Enbridge by 4.6% in the 2nd quarter. Park Avenue Securities LLC now owns 44,916 shares of the pipeline company’s stock valued at $1,598,000 after purchasing an additional 1,994 shares during the last quarter. CWM LLC increased its position in Enbridge by 11.7% in the 2nd quarter. CWM LLC now owns 48,860 shares of the pipeline company’s stock valued at $1,739,000 after acquiring an additional 5,118 shares during the period. Finally, Simplicity Wealth LLC increased its position in Enbridge by 3.4% in the 2nd quarter. Simplicity Wealth LLC now owns 18,088 shares of the pipeline company’s stock valued at $644,000 after acquiring an additional 603 shares during the period. 54.60% of the stock is owned by hedge funds and other institutional investors.

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.