Enbridge Inc. (TSE:ENB) Receives Average Recommendation of “Moderate Buy” from Brokerages

Enbridge Inc. (TSE:ENB) (NYSE:ENB) has been assigned an average recommendation of “Moderate Buy” from the ten research firms that are currently covering the company, Marketbeat.com reports. Five investment analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is C$54.33.

A number of research analysts recently weighed in on the stock. National Bankshares lifted their target price on shares of Enbridge from C$53.00 to C$57.00 and gave the company a “sector perform” rating in a research note on Friday, August 23rd. Scotiabank cut shares of Enbridge from a “strong-buy” rating to a “hold” rating in a research note on Friday, June 14th. BMO Capital Markets lifted their target price on shares of Enbridge from C$54.00 to C$56.00 in a research note on Thursday, September 5th. JPMorgan Chase & Co. lifted their target price on shares of Enbridge from C$56.00 to C$57.00 in a research note on Wednesday, August 7th. Finally, CIBC lifted their target price on shares of Enbridge from C$57.00 to C$59.00 in a research note on Monday, July 15th.

Insider Buying and Selling at Enbridge

In other Enbridge news, Director Steven Walter Williams bought 18,600 shares of Enbridge stock in a transaction dated Tuesday, August 13th. The shares were purchased at an average cost of C$53.74 per share, for a total transaction of C$999,564.00. 0.10% of the stock is currently owned by insiders.

Enbridge Stock Performance

ENB opened at C$55.18 on Thursday. The company has a current ratio of 0.76, a quick ratio of 0.44 and a debt-to-equity ratio of 131.26. The company has a market cap of C$120.29 billion, a price-to-earnings ratio of 21.22, a PEG ratio of 0.75 and a beta of 0.90. The company’s 50 day moving average is C$52.76 and its 200 day moving average is C$50.14. Enbridge has a 12-month low of C$42.75 and a 12-month high of C$56.09.

Enbridge (TSE:ENB) (NYSE:ENB) last released its earnings results on Friday, August 2nd. The company reported C$0.58 EPS for the quarter, missing analysts’ consensus estimates of C$0.62 by C($0.04). Enbridge had a return on equity of 8.57% and a net margin of 13.54%. The firm had revenue of C$11.34 billion for the quarter, compared to the consensus estimate of C$5.86 billion. On average, equities research analysts predict that Enbridge will post 3.0693674 EPS for the current year.

Enbridge Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Thursday, August 15th were issued a $0.915 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $3.66 dividend on an annualized basis and a yield of 6.63%. Enbridge’s dividend payout ratio is currently 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.