Enbridge (TSE:ENB) Lowered to Neutral Rating by JPMorgan Chase & Co.

JPMorgan Chase & Co. downgraded shares of Enbridge (TSE:ENB) (NYSE:ENB) from an overweight rating to a neutral rating in a research report sent to investors on Tuesday,BayStreet.CA reports. The firm currently has C$69.00 price objective on the stock, down from their previous price objective of C$74.00.

A number of other research analysts also recently commented on ENB. Scotiabank raised shares of Enbridge from a “sector perform” rating to a “sector outperform” rating and lifted their price objective for the company from C$70.00 to C$73.00 in a research report on Friday, January 16th. National Bankshares lifted their price target on Enbridge from C$66.00 to C$71.00 and gave the stock a “sector perform” rating in a report on Wednesday, December 17th. Barclays boosted their price target on Enbridge from C$65.00 to C$68.00 and gave the stock an “equal weight” rating in a research report on Monday, October 6th. Raymond James Financial raised their price objective on Enbridge from C$74.00 to C$76.00 in a research report on Monday, November 10th. Finally, BMO Capital Markets boosted their target price on Enbridge from C$67.00 to C$70.00 in a report on Thursday, December 4th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of C$71.31.

Enbridge Stock Down 0.7%

TSE:ENB opened at C$65.19 on Tuesday. The firm has a market capitalization of C$142.31 billion, a price-to-earnings ratio of 25.56, a price-to-earnings-growth ratio of 1.72 and a beta of 0.90. Enbridge has a twelve month low of C$56.51 and a twelve month high of C$70.39. The stock’s 50 day moving average price is C$65.61 and its two-hundred day moving average price is C$65.88. The company has a quick ratio of 0.44, a current ratio of 0.62 and a debt-to-equity ratio of 144.86.

Enbridge (TSE:ENB) (NYSE:ENB) last released its quarterly earnings data on Friday, November 7th. The company reported C$0.46 EPS for the quarter. The company had revenue of C$14.64 billion during the quarter. Enbridge had a return on equity of 10.30% and a net margin of 13.75%. Equities research analysts expect that Enbridge will post 3.511912 earnings per share for the current fiscal year.

Enbridge Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 1st. Stockholders of record on Monday, December 1st were given a $0.9425 dividend. The ex-dividend date of this dividend was Friday, November 14th. This represents a $3.77 annualized dividend and a dividend yield of 5.8%. Enbridge’s dividend payout ratio is presently 146.76%.

About Enbridge

At Enbridge, we safely connect millions of people to the energy they rely on every day, fueling quality of life through our North American natural gas, oil and renewable power networks and our growing European offshore wind portfolio. We’re investing in modern energy delivery infrastructure to sustain access to secure, affordable energy and building on more than a century of operating conventional energy infrastructure and two decades of experience in renewable power. We’re advancing new technologies including hydrogen, renewable natural gas, and carbon capture and storage.