Brokerages Set Enbridge Inc (NYSE:ENB) PT at $66.50

Enbridge Inc (NYSE:ENB) (TSE:ENB) has earned an average recommendation of “Moderate Buy” from the twelve ratings firms that are currently covering the company, Marketbeat Ratings reports. Six analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $66.50.

A number of brokerages have weighed in on ENB. Scotiabank reaffirmed an “outperform” rating on shares of Enbridge in a research note on Tuesday. Royal Bank Of Canada increased their price objective on shares of Enbridge from $76.00 to $79.00 and gave the stock an “outperform” rating in a research report on Monday, May 11th. Canadian Imperial Bank of Commerce restated a “neutral” rating on shares of Enbridge in a report on Monday, May 11th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Enbridge in a research report on Friday, May 22nd. Finally, Wall Street Zen raised shares of Enbridge from a “sell” rating to a “hold” rating in a research note on Sunday, July 12th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of ENB. Bogart Wealth LLC raised its position in Enbridge by 4.3% in the 2nd quarter. Bogart Wealth LLC now owns 8,904 shares of the pipeline company’s stock valued at $483,000 after buying an additional 371 shares during the last quarter. TCV Trust & Wealth Management Inc. boosted its position in Enbridge by 2.1% during the 2nd quarter. TCV Trust & Wealth Management Inc. now owns 13,342 shares of the pipeline company’s stock worth $723,000 after acquiring an additional 277 shares during the last quarter. CRA Financial Services LLC acquired a new position in Enbridge during the 2nd quarter worth approximately $201,000. Avidian Wealth Enterprises LLC grew its stake in shares of Enbridge by 11.0% during the 2nd quarter. Avidian Wealth Enterprises LLC now owns 10,476 shares of the pipeline company’s stock worth $568,000 after acquiring an additional 1,034 shares in the last quarter. Finally, Trinity Legacy Partners LLC grew its stake in shares of Enbridge by 15.2% during the 2nd quarter. Trinity Legacy Partners LLC now owns 5,471 shares of the pipeline company’s stock worth $309,000 after acquiring an additional 720 shares in the last quarter. 54.60% of the stock is owned by institutional investors and hedge funds.

Enbridge Trading Up 0.8%

NYSE:ENB opened at $56.84 on Thursday. Enbridge has a fifty-two week low of $44.58 and a fifty-two week high of $58.45. The company has a debt-to-equity ratio of 1.69, a current ratio of 0.81 and a quick ratio of 0.73. The stock has a market capitalization of $124.13 billion, a PE ratio of 26.68 and a beta of 0.58. The business’s 50-day simple moving average is $55.73 and its 200-day simple moving average is $53.24.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings data on Friday, May 8th. The pipeline company reported $0.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.02. Enbridge had a return on equity of 11.21% and a net margin of 9.83%.The business had revenue of $9.37 billion during the quarter, compared to analyst estimates of $8.49 billion. During the same period in the previous year, the firm earned $1.03 EPS. Sell-side analysts expect that Enbridge will post 2.13 earnings per share for the current fiscal year.

Enbridge Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Friday, May 15th were issued a $0.97 dividend. This represents a $3.88 dividend on an annualized basis and a dividend yield of 6.8%. The ex-dividend date was Friday, May 15th. Enbridge’s payout ratio is 133.80%.

Enbridge Company Profile

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.