Enbridge Inc. (TSE:ENB) Given Consensus Recommendation of “Moderate Buy” by Analysts

Enbridge Inc. (TSE:ENB) (NYSE:ENB) has received an average recommendation of “Moderate Buy” from the thirteen ratings firms that are covering the company, Marketbeat.com reports. Four research analysts have rated the stock with a hold recommendation, seven have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average 12 month price target among brokerages that have covered the stock in the last year is C$77.62.

A number of research firms have weighed in on ENB. BMO Capital Markets raised Enbridge from a “hold” rating to an “outperform” rating and lifted their price objective for the company from C$79.00 to C$79.50 in a report on Tuesday, September 15th. Canadian Imperial Bank of Commerce raised Enbridge from a “hold” rating to an “outperformer” rating and increased their target price for the stock from C$77.00 to C$78.00 in a report on Friday, August 28th. US Capital Advisors upgraded Enbridge from a “hold” rating to a “moderate buy” rating in a research report on Thursday, August 20th. TD raised Enbridge from a “hold” rating to a “buy” rating and decreased their price target for the company from C$82.00 to C$81.00 in a research note on Tuesday, September 15th. Finally, Scotiabank upgraded Enbridge to a “strong-buy” rating in a research report on Thursday.

Enbridge Price Performance

TSE:ENB opened at C$68.14 on Monday. The company has a debt-to-equity ratio of 171.59, a quick ratio of 0.44 and a current ratio of 0.72. The company has a 50-day moving average of C$72.61 and a 200-day moving average of C$74.62. Enbridge has a 52 week low of C$62.42 and a 52 week high of C$80.65. The company has a market capitalization of C$148.83 billion, a price-to-earnings ratio of 26.31, a PEG ratio of 1.72 and a beta of 0.69.

Enbridge (TSE:ENB) (NYSE:ENB) last posted its earnings results on Friday, July 31st. The company reported C$0.63 earnings per share for the quarter. Enbridge had a net margin of 7.28% and a return on equity of 10.01%. The business had revenue of C$29.32 billion for the quarter. As a group, equities research analysts anticipate that Enbridge will post 3.511912 earnings per share for the current fiscal year.

Enbridge Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 1st. Investors of record on Tuesday, September 1st were given a dividend of $0.97 per share. The ex-dividend date was Friday, August 14th. This represents a $3.88 dividend on an annualized basis and a dividend yield of 5.7%. Enbridge’s dividend payout ratio (DPR) is 147.68%.

Insider Transactions at Enbridge

In other news, Director Gregory Lorne Ebel purchased 7,105 shares of Enbridge stock in a transaction on Monday, September 14th. The shares were purchased at an average cost of C$66.85 per share, for a total transaction of C$474,969.25. Following the completion of the transaction, the director directly owned 589,721 shares in the company, valued at approximately C$39,422,848.85. This represents a 1.22% increase in their ownership of the stock. 0.10% of the stock is owned by corporate insiders.

Enbridge Company Profile

At Enbridge, we safely connect millions of people to the energy they rely on every day, fueling quality of life through our North American natural gas, oil and renewable power networks and our growing European offshore wind portfolio. We’re investing in modern energy delivery infrastructure to sustain access to secure, affordable energy and building on more than a century of operating conventional energy infrastructure and two decades of experience in renewable power. We’re advancing new technologies including hydrogen, renewable natural gas, and carbon capture and storage.