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

Shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) have received a consensus recommendation of “Moderate Buy” from the nine research firms that are currently covering the company, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $67.00.

Several analysts recently commented on ENB shares. BMO Capital Markets restated a “market perform” rating on shares of Enbridge in a research report on Monday, May 12th. Raymond James Financial upgraded Enbridge to a “moderate buy” rating in a research report on Wednesday, April 23rd. Royal Bank Of Canada restated an “outperform” rating and issued a $67.00 target price on shares of Enbridge in a research report on Monday, May 12th. National Bankshares restated a “sector perform” rating on shares of Enbridge in a research report on Tuesday. Finally, Wall Street Zen upgraded Enbridge from a “sell” rating to a “hold” rating in a research report on Thursday, May 22nd.

Enbridge Trading Down 0.1%

Shares of NYSE ENB opened at $47.03 on Thursday. The company has a market cap of $102.55 billion, a price-to-earnings ratio of 23.17, a price-to-earnings-growth ratio of 4.32 and a beta of 0.79. Enbridge has a 12-month low of $38.44 and a 12-month high of $47.44. The company has a current ratio of 0.75, a quick ratio of 0.66 and a debt-to-equity ratio of 1.58. The stock’s 50 day simple moving average is $45.48 and its 200 day simple moving average is $44.63.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its earnings results on Friday, August 1st. The pipeline company reported $0.47 EPS for the quarter, beating the consensus estimate of $0.41 by $0.06. Enbridge had a return on equity of 10.77% and a net margin of 10.11%. The firm had revenue of $7.14 billion for the quarter, compared to analysts’ expectations of $10.56 billion. During the same period last year, the firm earned $0.58 EPS. Equities research analysts expect that Enbridge will post 2.14 EPS for the current year.

Enbridge Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 1st. Stockholders of record on Friday, August 15th will be given a dividend of $0.6839 per share. This is a boost from Enbridge’s previous quarterly dividend of $0.68. The ex-dividend date is Friday, August 15th. This represents a $2.74 annualized dividend and a dividend yield of 5.8%. Enbridge’s payout ratio is 133.99%.

Hedge Funds Weigh In On Enbridge

Hedge funds have recently modified their holdings of the company. Financial Gravity Companies Inc. acquired a new position in shares of Enbridge in the 2nd quarter worth $29,000. Kingsview Wealth Management LLC grew its holdings in shares of Enbridge by 8.9% in the 2nd quarter. Kingsview Wealth Management LLC now owns 108,646 shares of the pipeline company’s stock worth $4,924,000 after acquiring an additional 8,845 shares during the last quarter. Citizens Financial Group Inc. RI acquired a new position in shares of Enbridge in the 2nd quarter worth $262,000. Avantax Advisory Services Inc. grew its holdings in shares of Enbridge by 6.8% in the 2nd quarter. Avantax Advisory Services Inc. now owns 476,483 shares of the pipeline company’s stock worth $21,594,000 after acquiring an additional 30,437 shares during the last quarter. Finally, Intech Investment Management LLC grew its holdings in shares of Enbridge by 11.3% in the 2nd quarter. Intech Investment Management LLC now owns 67,347 shares of the pipeline company’s stock worth $3,048,000 after acquiring an additional 6,833 shares during the last quarter. 54.60% of the stock is currently owned by institutional investors and hedge funds.

About Enbridge

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.