Argus Issues Positive Forecast for Enbridge (NYSE:ENB) Stock Price

Enbridge (NYSE:ENB) (TSE:ENB) had its target price hoisted by Argus from $50.00 to $54.00 in a report published on Tuesday,Benzinga reports. The brokerage currently has a buy rating on the pipeline company’s stock.

Several other analysts have also recently issued reports on ENB. Jefferies Financial Group raised shares of Enbridge from a “hold” rating to a “buy” rating in a report on Wednesday, July 23rd. Royal Bank Of Canada reissued an “outperform” rating and set a $67.00 target price on shares of Enbridge in a report on Monday, May 12th. Raymond James Financial raised shares of Enbridge to a “moderate buy” rating in a report on Wednesday, April 23rd. Wall Street Zen raised shares of Enbridge from a “sell” rating to a “hold” rating in a report on Thursday, May 22nd. Finally, BMO Capital Markets reissued a “market perform” rating on shares of Enbridge in a report on Monday, May 12th. Five investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $60.50.

Enbridge Trading Down 0.3%

ENB opened at $47.34 on Tuesday. The stock has a market capitalization of $103.22 billion, a PE ratio of 23.32, a P/E/G ratio of 4.36 and a beta of 0.79. The firm’s fifty day moving average price is $45.49 and its 200 day moving average price is $44.67. The company has a debt-to-equity ratio of 1.58, a current ratio of 0.75 and a quick ratio of 0.65. Enbridge has a 12-month low of $38.44 and a 12-month high of $47.62.

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

Enbridge Increases Dividend

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

Institutional Trading of Enbridge

A number of large investors have recently modified their holdings of the company. South Plains Financial Inc. grew its position in Enbridge by 13.2% in the 2nd quarter. South Plains Financial Inc. now owns 1,887 shares of the pipeline company’s stock valued at $85,000 after buying an additional 220 shares in the last quarter. IFP Advisors Inc grew its position in Enbridge by 1.2% in the 2nd quarter. IFP Advisors Inc now owns 18,217 shares of the pipeline company’s stock valued at $826,000 after buying an additional 221 shares in the last quarter. Capital Investment Counsel Inc grew its position in Enbridge by 3.1% in the 1st quarter. Capital Investment Counsel Inc now owns 7,527 shares of the pipeline company’s stock valued at $333,000 after buying an additional 223 shares in the last quarter. New England Capital Financial Advisors LLC grew its position in Enbridge by 21.0% in the 2nd quarter. New England Capital Financial Advisors LLC now owns 1,285 shares of the pipeline company’s stock valued at $58,000 after buying an additional 223 shares in the last quarter. Finally, Bay Colony Advisory Group Inc d b a Bay Colony Advisors grew its position in Enbridge by 0.7% in the 1st quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 34,326 shares of the pipeline company’s stock valued at $1,526,000 after buying an additional 226 shares in the last quarter. Institutional investors and hedge funds own 54.60% of the company’s stock.

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.