Enbridge Inc. (NYSE:ENB) Declares $0.67 Quarterly Dividend

Enbridge Inc. (NYSE:ENB) (TSE:ENB) announced a quarterly dividend on Thursday, December 5th,Wall Street Journal reports. Stockholders of record on Saturday, February 15th will be paid a dividend of 0.67 per share by the pipeline company on Saturday, March 1st. This represents a $2.68 annualized dividend and a dividend yield of 5.92%. The ex-dividend date is Friday, February 14th.

Enbridge has increased its dividend payment by an average of 2.9% per year over the last three years. Enbridge has a payout ratio of 115.9% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Enbridge to earn $2.17 per share next year, which means the company may not be able to cover its $2.63 annual dividend with an expected future payout ratio of 121.2%.

Enbridge Trading Up 1.1 %

Shares of NYSE ENB opened at $45.29 on Wednesday. Enbridge has a 12 month low of $32.85 and a 12 month high of $45.78. The company has a market cap of $98.65 billion, a price-to-earnings ratio of 20.97, a P/E/G ratio of 4.08 and a beta of 0.94. The company has a quick ratio of 0.54, a current ratio of 0.62 and a debt-to-equity ratio of 1.41. The business has a fifty day simple moving average of $43.23 and a 200-day simple moving average of $41.54.

Wall Street Analyst Weigh In

ENB has been the subject of several analyst reports. Royal Bank of Canada reaffirmed an “outperform” rating and set a $63.00 target price (up from $59.00) on shares of Enbridge in a report on Wednesday, December 4th. TD Securities started coverage on Enbridge in a research note on Wednesday, January 15th. They issued a “buy” rating for the company. Morgan Stanley started coverage on Enbridge in a research note on Friday, October 25th. They issued an “equal weight” rating for the company. Finally, Wells Fargo & Company raised Enbridge from an “underweight” rating to an “equal weight” rating in a research note on Wednesday, November 6th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Enbridge has an average rating of “Hold” and an average target price of $63.00.

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.