Enbridge (NYSE:ENB) Price Target Increased to $64.00 by Analysts at CIBC

Enbridge (NYSE:ENB) (TSE:ENB) had its target price hoisted by CIBC from $63.00 to $64.00 in a research report report published on Monday morning, Benzinga reports. They currently have an outperformer rating on the pipeline company’s stock.

ENB has been the subject of several other reports. BMO Capital Markets started coverage on Enbridge in a research report on Friday. They issued a market perform rating for the company. Royal Bank of Canada reduced their price objective on Enbridge from $65.00 to $60.00 and set an outperform rating for the company in a research report on Monday, August 7th. Scotiabank assumed coverage on Enbridge in a research report on Monday. They issued a sector perform rating for the company. TD Securities reduced their target price on Enbridge from $62.00 to $58.00 and set a buy rating for the company in a research report on Tuesday, August 8th. Finally, Wells Fargo & Company cut Enbridge from an overweight rating to an equal weight rating in a research report on Wednesday, September 6th. Six equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, Enbridge currently has a consensus rating of Hold and a consensus price target of $58.57.

Enbridge Trading Up 0.5 %

NYSE:ENB opened at $33.72 on Monday. The company’s 50 day moving average is $35.81 and its 200-day moving average is $37.20. The company has a quick ratio of 0.55, a current ratio of 0.64 and a debt-to-equity ratio of 1.27. Enbridge has a 12 month low of $32.90 and a 12 month high of $43.03. The firm has a market cap of $68.19 billion, a price-to-earnings ratio of 24.08, a P/E/G ratio of 2.62 and a beta of 0.85.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings data on Friday, August 4th. The pipeline company reported $0.51 EPS for the quarter, hitting analysts’ consensus estimates of $0.51. Enbridge had a return on equity of 10.20% and a net margin of 8.58%. The business had revenue of $7.77 billion for the quarter, compared to analyst estimates of $7.49 billion. Equities analysts anticipate that Enbridge will post 2.12 EPS for the current year.

Enbridge Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 1st. Shareholders of record on Tuesday, August 15th were paid a dividend of $0.67 per share. This is a positive change from Enbridge’s previous quarterly dividend of $0.66. This represents a $2.68 annualized dividend and a yield of 7.95%. The ex-dividend date was Monday, August 14th. Enbridge’s dividend payout ratio is currently 187.86%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. White Pine Capital LLC raised its stake in Enbridge by 4.7% during the first quarter. White Pine Capital LLC now owns 5,704 shares of the pipeline company’s stock worth $218,000 after acquiring an additional 255 shares in the last quarter. RMR Wealth Builders increased its stake in shares of Enbridge by 2.4% in the first quarter. RMR Wealth Builders now owns 11,628 shares of the pipeline company’s stock valued at $444,000 after buying an additional 275 shares in the last quarter. Eudaimonia Partners LLC increased its stake in shares of Enbridge by 2.4% in the second quarter. Eudaimonia Partners LLC now owns 11,900 shares of the pipeline company’s stock valued at $442,000 after buying an additional 278 shares in the last quarter. Cranbrook Wealth Management LLC increased its stake in shares of Enbridge by 24.0% in the first quarter. Cranbrook Wealth Management LLC now owns 1,525 shares of the pipeline company’s stock valued at $58,000 after buying an additional 295 shares in the last quarter. Finally, SVB Wealth LLC increased its stake in shares of Enbridge by 3.1% in the first quarter. SVB Wealth LLC now owns 9,781 shares of the pipeline company’s stock valued at $373,000 after buying an additional 297 shares in the last quarter. 48.29% of the stock is currently owned by institutional investors and hedge funds.

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.