Enbridge (NYSE:ENB) Price Target Raised to $76.00 at Royal Bank Of Canada

Enbridge (NYSE:ENB) (TSE:ENB) had its price target increased by Royal Bank Of Canada from $72.00 to $76.00 in a research report report published on Tuesday, MarketBeat.com reports. Royal Bank Of Canada currently has an outperform rating on the pipeline company’s stock.

A number of other analysts also recently issued reports on ENB. TD Securities downgraded shares of Enbridge from a “buy” rating to a “hold” rating in a report on Tuesday. Weiss Ratings raised shares of Enbridge from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, February 9th. National Bank Financial restated a “sector perform” rating on shares of Enbridge in a research report on Monday, November 10th. Zacks Research raised Enbridge from a “strong sell” rating to a “hold” rating in a report on Monday, December 29th. Finally, BMO Capital Markets reissued a “market perform” rating on shares of Enbridge in a report on Tuesday. Six investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $65.00.

Enbridge Stock Performance

Shares of NYSE ENB opened at $51.46 on Tuesday. The company has a 50 day simple moving average of $48.15 and a two-hundred day simple moving average of $48.09. The stock has a market cap of $112.28 billion, a price-to-earnings ratio of 22.37 and a beta of 0.69. The company has a current ratio of 0.80, a quick ratio of 0.68 and a debt-to-equity ratio of 1.64. Enbridge has a 12 month low of $39.73 and a 12 month high of $54.19.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings data on Friday, February 13th. The pipeline company reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.03. Enbridge had a return on equity of 11.01% and a net margin of 11.30%.The business had revenue of $17.18 billion during the quarter, compared to analysts’ expectations of $9.10 billion. During the same quarter in the previous year, the firm posted $0.75 EPS. As a group, analysts predict that Enbridge will post 2.14 earnings per share for the current year.

Enbridge Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Sunday, March 1st. Stockholders of record on Tuesday, February 17th will be given a $0.97 dividend. This represents a $3.88 annualized dividend and a dividend yield of 7.5%. This is a boost from Enbridge’s previous quarterly dividend of $0.94. The ex-dividend date is Tuesday, February 17th. Enbridge’s dividend payout ratio (DPR) is 116.96%.

Institutional Investors Weigh In On Enbridge

A number of large investors have recently modified their holdings of the business. Tsfg LLC boosted its position in Enbridge by 329.6% during the third quarter. Tsfg LLC now owns 494 shares of the pipeline company’s stock worth $25,000 after acquiring an additional 379 shares during the last quarter. Whipplewood Advisors LLC lifted its stake in Enbridge by 112.4% in the 2nd quarter. Whipplewood Advisors LLC now owns 582 shares of the pipeline company’s stock worth $26,000 after purchasing an additional 308 shares in the last quarter. Triumph Capital Management purchased a new position in Enbridge in the 3rd quarter worth approximately $26,000. Highline Wealth Partners LLC boosted its holdings in shares of Enbridge by 73.1% during the 3rd quarter. Highline Wealth Partners LLC now owns 559 shares of the pipeline company’s stock worth $28,000 after purchasing an additional 236 shares during the last quarter. Finally, Turning Point Benefit Group Inc. purchased a new stake in shares of Enbridge in the third quarter valued at approximately $28,000. Hedge funds and other institutional investors own 54.60% of the company’s stock.

About Enbridge

Enbridge Inc is a Calgary, Alberta–based energy infrastructure company that develops, owns and operates a diversified portfolio of energy transportation, distribution and generation assets. Its core activities include the operation of crude oil and liquids pipelines, natural gas transmission and distribution systems, and energy storage facilities. In addition to midstream transportation and storage, Enbridge has expanded into renewable power generation and energy transition projects, including wind, solar and utility-scale generation assets.

The company serves customers primarily in Canada and the United States and has interests in other international energy projects.