Enbridge Inc (NYSE:ENB) Receives $67.00 Consensus Target Price from Brokerages

Shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) have been given a consensus recommendation of “Hold” by the nine brokerages that are presently covering the stock, Marketbeat Ratings reports. Five research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12 month price target among brokerages that have covered the stock in the last year is $67.00.

Several brokerages have recently issued reports on ENB. Raymond James Financial raised shares of Enbridge to a “moderate buy” rating in a research note on Wednesday, April 23rd. National Bankshares reaffirmed a “sector perform” rating on shares of Enbridge in a report on Monday, May 12th. Citigroup started coverage on Enbridge in a research note on Friday, April 4th. They issued a “buy” rating on the stock. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $67.00 price objective on shares of Enbridge in a research note on Monday, May 12th. Finally, BMO Capital Markets reiterated a “market perform” rating on shares of Enbridge in a report on Monday, May 12th.

Hedge Funds Weigh In On Enbridge

Several hedge funds have recently modified their holdings of ENB. Norges Bank bought a new stake in shares of Enbridge during the 4th quarter worth about $909,415,000. Goldman Sachs Group Inc. lifted its holdings in shares of Enbridge by 137.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 32,907,433 shares of the pipeline company’s stock worth $1,458,128,000 after acquiring an additional 19,074,827 shares during the period. Arrowstreet Capital Limited Partnership lifted its stake in Enbridge by 396.7% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 12,047,004 shares of the pipeline company’s stock worth $510,816,000 after purchasing an additional 9,621,425 shares during the last quarter. Blackstone Inc. boosted its stake in Enbridge by 650.7% in the fourth quarter. Blackstone Inc. now owns 5,718,089 shares of the pipeline company’s stock valued at $242,619,000 after buying an additional 4,956,379 shares in the last quarter. Finally, Nuveen LLC acquired a new stake in shares of Enbridge in the 1st quarter valued at approximately $208,490,000. Institutional investors own 54.60% of the company’s stock.

Enbridge Stock Performance

Shares of Enbridge stock opened at $45.28 on Friday. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.73 and a quick ratio of 0.66. The firm has a 50 day simple moving average of $45.44 and a 200 day simple moving average of $44.39. Enbridge has a fifty-two week low of $35.68 and a fifty-two week high of $47.44. The firm has a market cap of $98.72 billion, a P/E ratio of 23.34, a P/E/G ratio of 4.25 and a beta of 0.79.

Enbridge (NYSE:ENB) (TSE:ENB) last released its earnings results on Friday, May 9th. The pipeline company reported $0.72 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.04. The company had revenue of $7.27 billion during the quarter, compared to the consensus estimate of $10.20 billion. Enbridge had a return on equity of 10.41% and a net margin of 10.16%. During the same quarter in the previous year, the company posted $0.92 earnings per share. Sell-side analysts predict that Enbridge will post 2.14 earnings per share for the current fiscal year.

Enbridge Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Sunday, June 1st. Investors of record on Thursday, May 15th were issued a dividend of $0.679 per share. This is a boost from Enbridge’s previous quarterly dividend of $0.67. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $2.72 annualized dividend and a yield of 6.00%. Enbridge’s dividend payout ratio is presently 140.21%.

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.