Enbridge Inc (ENB) – What Are Analysts Saying About This Stock?

Shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) have been given an average rating of “Moderate Buy” by the fifteen brokerages that are presently covering the company, Marketbeat Ratings reports. Five research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $65.88.

Several research analysts have commented on ENB shares. Scotiabank upgraded Enbridge to a “strong-buy” rating in a research note on Thursday, September 17th. Raymond James Financial reaffirmed a “market perform” rating on shares of Enbridge in a report on Tuesday, September 15th. US Capital Advisors upgraded Enbridge from a “hold” rating to a “moderate buy” rating in a research report on Thursday, August 20th. TD raised shares of Enbridge to a “buy” rating in a report on Tuesday, September 15th. Finally, The Goldman Sachs Group assumed coverage on shares of Enbridge in a research report on Wednesday, September 30th. They issued a “neutral” rating and a $50.00 price objective for the company.

Enbridge Trading Up 0.1%

NYSE:ENB opened at $46.59 on Tuesday. The company has a market cap of $103.84 billion, a P/E ratio of 24.91, a P/E/G ratio of 5.52 and a beta of 0.60. The stock’s fifty day moving average price is $49.34 and its two-hundred day moving average price is $52.98. Enbridge has a 1 year low of $45.03 and a 1 year high of $58.45. The company has a debt-to-equity ratio of 1.69, a current ratio of 0.72 and a quick ratio of 0.66.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings results on Friday, July 31st. The pipeline company reported $0.46 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.03. The company had revenue of $9.70 billion during the quarter, compared to analysts’ expectations of $8.67 billion. Enbridge had a return on equity of 11.17% and a net margin of 7.20%. During the same period in the previous year, the business earned $0.65 earnings per share. As a group, analysts expect that Enbridge will post 2.11 EPS for the current year.

Enbridge Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 1st. Investors of record on Friday, August 14th were issued a dividend of C$0.97 per share. This represents a $3.88 dividend on an annualized basis and a yield of 8.3%. The ex-dividend date of this dividend was Friday, August 14th. Enbridge’s dividend payout ratio is 147.06%.

Institutional Trading of Enbridge

Several institutional investors and hedge funds have recently bought and sold shares of the company. Deutsche Bank AG purchased a new stake in Enbridge in the second quarter worth approximately $1,850,502,000. Ontario Teachers Pension Plan Board bought a new position in Enbridge during the second quarter valued at approximately $467,782,000. Auto Owners Insurance Co raised its stake in shares of Enbridge by 4,683.0% during the fourth quarter. Auto Owners Insurance Co now owns 8,566,831 shares of the pipeline company’s stock worth $40,975,000 after acquiring an additional 8,387,721 shares in the last quarter. Bank of New York Mellon Corp purchased a new position in shares of Enbridge during the second quarter worth approximately $412,627,000. Finally, Bank of America Corp DE purchased a new position in shares of Enbridge during the second quarter worth approximately $380,896,000. 54.60% of the stock is currently owned by hedge funds and other institutional investors.

About Enbridge

Enbridge Inc (NYSE: ENB) is a Canadian energy infrastructure company that transports and distributes oil, natural gas and renewable energy across North America. Its operations include crude oil and liquids pipelines, natural gas transmission and storage, natural gas distribution and utility services, and renewable power generation. The company serves customers and communities in Canada and the United States.

Enbridge’s liquids pipeline network transports crude oil and other liquid hydrocarbons to refineries, export terminals and market hubs.