Enbridge Inc. (NYSE:ENB) Receives Average Rating of “Hold” from Brokerages

Shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) have earned an average rating of “Hold” from the six brokerages that are currently covering the stock, Marketbeat.com reports. Four analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $63.00.

A number of research analysts have recently issued reports on ENB shares. Royal Bank of Canada reaffirmed an “outperform” rating and set a $63.00 price target (up from $59.00) on shares of Enbridge in a report on Wednesday, December 4th. Jefferies Financial Group cut shares of Enbridge from a “buy” rating to a “hold” rating in a research note on Monday, September 30th. Wells Fargo & Company raised shares of Enbridge from an “underweight” rating to an “equal weight” rating in a report on Wednesday, November 6th. TD Securities assumed coverage on shares of Enbridge in a report on Wednesday. They issued a “buy” rating on the stock. Finally, Morgan Stanley initiated coverage on shares of Enbridge in a research note on Friday, October 25th. They set an “equal weight” rating for the company.

Enbridge Stock Performance

Shares of ENB stock opened at $44.04 on Wednesday. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.54 and a current ratio of 0.62. The company has a market capitalization of $95.93 billion, a price-to-earnings ratio of 20.39, a price-to-earnings-growth ratio of 4.14 and a beta of 0.93. Enbridge has a one year low of $32.85 and a one year high of $44.13. The company’s 50-day moving average is $42.62 and its 200 day moving average is $40.42.

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 the consensus estimate of $0.40 by $0.15. The company had revenue of $10.91 billion during the quarter, compared to the consensus estimate of $4.54 billion. Enbridge had a net margin of 13.54% and a return on equity of 9.94%. During the same quarter last year, the firm earned $0.46 earnings per share. Sell-side analysts expect that Enbridge will post 2.03 EPS for the current fiscal year.

Enbridge Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Saturday, February 15th will be issued a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a dividend yield of 6.09%. The ex-dividend date of this dividend is Friday, February 14th. Enbridge’s payout ratio is 124.07%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. William B. Walkup & Associates Inc. purchased a new stake in shares of Enbridge in the 2nd quarter worth $28,000. McIlrath & Eck LLC grew its holdings in Enbridge by 74.9% during the third quarter. McIlrath & Eck LLC now owns 689 shares of the pipeline company’s stock valued at $28,000 after purchasing an additional 295 shares during the period. Grove Bank & Trust increased its position in Enbridge by 56.7% in the third quarter. Grove Bank & Trust now owns 771 shares of the pipeline company’s stock worth $31,000 after buying an additional 279 shares in the last quarter. MFA Wealth Advisors LLC raised its stake in shares of Enbridge by 55.6% in the third quarter. MFA Wealth Advisors LLC now owns 784 shares of the pipeline company’s stock worth $32,000 after buying an additional 280 shares during the period. Finally, Fortitude Family Office LLC bought a new position in shares of Enbridge during the 3rd quarter valued at approximately $35,000. 54.60% of the stock is currently owned by 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.