Enbridge Inc. (TSE:ENB) Receives Average Recommendation of “Hold” from Brokerages

Enbridge Inc. (TSE:ENB) (NYSE:ENB) has been assigned a consensus rating of “Hold” from the ten analysts that are currently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, five have given a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month price target among brokers that have covered the stock in the last year is C$53.50.

A number of equities research analysts have issued reports on ENB shares. JPMorgan Chase & Co. reduced their price objective on shares of Enbridge from C$56.00 to C$55.00 in a research note on Wednesday, October 4th. CIBC lowered their price objective on shares of Enbridge from C$64.00 to C$56.00 and set an “outperform” rating for the company in a research report on Thursday, October 19th. Credit Suisse Group reduced their target price on Enbridge from C$52.00 to C$51.00 in a report on Wednesday, September 13th. National Bankshares lowered their price target on Enbridge from C$53.00 to C$48.00 and set a “sector perform” rating for the company in a report on Thursday, October 19th. Finally, BMO Capital Markets decreased their target price on Enbridge from C$54.00 to C$52.00 and set a “market perform” rating on the stock in a research report on Monday, September 11th.

Enbridge Stock Performance

Shares of TSE:ENB opened at C$43.57 on Monday. Enbridge has a 12-month low of C$42.75 and a 12-month high of C$56.37. The company’s 50 day moving average price is C$45.61 and its two-hundred day moving average price is C$48.45. The firm has a market cap of C$92.80 billion, a PE ratio of 23.18, a PEG ratio of 1.16 and a beta of 0.92. The company has a quick ratio of 0.44, a current ratio of 0.64 and a debt-to-equity ratio of 124.11.

Enbridge (TSE:ENB) (NYSE:ENB) last issued its quarterly earnings results on Friday, August 4th. The company reported C$0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of C$0.67 by C$0.01. Enbridge had a return on equity of 6.44% and a net margin of 8.70%. The business had revenue of C$10.43 billion during the quarter, compared to analysts’ expectations of C$10.08 billion. Equities research analysts predict that Enbridge will post 2.6712657 earnings per share for the current year.

Enbridge Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 1st. Stockholders of record on Tuesday, August 15th were paid a dividend of $0.8875 per share. This represents a $3.55 annualized dividend and a dividend yield of 8.15%. The ex-dividend date of this dividend was Monday, August 14th. Enbridge’s payout ratio is currently 188.83%.

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.