Enbridge Inc. (TSE:ENB) Given Consensus Recommendation of “Hold” by Brokerages

Enbridge Inc. (TSE:ENB) (NYSE:ENB) has been assigned a consensus recommendation of “Hold” from the ten ratings firms that are presently covering the firm, MarketBeat reports. Six analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is C$55.25.

ENB has been the subject of several recent research reports. BMO Capital Markets increased their price target on Enbridge from C$54.00 to C$56.00 in a report on Thursday, September 5th. Jefferies Financial Group downgraded Enbridge from a “buy” rating to a “hold” rating and raised their target price for the stock from C$55.00 to C$58.00 in a research note on Monday, September 30th. JPMorgan Chase & Co. boosted their price target on shares of Enbridge from C$57.00 to C$60.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. National Bankshares raised their price objective on shares of Enbridge from C$53.00 to C$57.00 and gave the stock a “sector perform” rating in a research report on Friday, August 23rd. Finally, Royal Bank of Canada lifted their target price on shares of Enbridge from C$55.00 to C$59.00 and gave the stock an “outperform” rating in a research note on Thursday, October 3rd.

Insider Activity at Enbridge

In other Enbridge news, Director Steven Walter Williams purchased 18,600 shares of Enbridge stock in a transaction dated Tuesday, August 13th. The shares were acquired at an average price of C$53.74 per share, with a total value of C$999,564.00. In other news, Senior Officer Maximilian Chan sold 688 shares of Enbridge stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of C$55.20, for a total value of C$37,977.60. Also, Director Steven Walter Williams purchased 18,600 shares of the firm’s stock in a transaction that occurred on Tuesday, August 13th. The stock was purchased at an average price of C$53.74 per share, with a total value of C$999,564.00. 0.10% of the stock is currently owned by company insiders.

Enbridge Price Performance

Enbridge stock opened at C$56.56 on Monday. The company has a fifty day simple moving average of C$54.33 and a 200-day simple moving average of C$50.91. The firm has a market capitalization of C$123.30 billion, a price-to-earnings ratio of 21.75, a PEG ratio of 0.75 and a beta of 0.90. The company has a quick ratio of 0.44, a current ratio of 0.76 and a debt-to-equity ratio of 131.26. Enbridge has a 52-week low of C$43.21 and a 52-week high of C$56.59.

Enbridge (TSE:ENB) (NYSE:ENB) last announced its quarterly earnings data on Friday, August 2nd. The company reported C$0.58 earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.62 by C($0.04). Enbridge had a net margin of 13.54% and a return on equity of 8.57%. The business had revenue of C$11.34 billion for the quarter, compared to analysts’ expectations of C$5.86 billion. On average, equities analysts anticipate that Enbridge will post 3.0366521 EPS for the current fiscal year.

Enbridge Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Thursday, August 15th were paid a dividend of $0.915 per share. This represents a $3.66 annualized dividend and a yield of 6.47%. The ex-dividend date of this dividend was Thursday, August 15th. Enbridge’s payout ratio is 140.77%.

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.