Shares of Enbridge Inc. (NYSE:ENB – Get Rating) (TSE:ENB) have received an average recommendation of “Hold” from the fifteen analysts that are covering the firm, Marketbeat.com reports. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $58.46.
ENB has been the topic of a number of research analyst reports. US Capital Advisors downgraded Enbridge from an “overweight” rating to a “hold” rating in a report on Tuesday, July 26th. Royal Bank of Canada lifted their price objective on Enbridge from C$60.00 to C$65.00 in a research report on Monday, May 9th. National Bank Financial lifted their price objective on Enbridge from C$60.00 to C$61.00 in a research report on Tuesday. TD Securities lifted their price objective on Enbridge from C$61.00 to C$62.00 in a research report on Monday, May 9th. Finally, Scotiabank lifted their price objective on Enbridge from C$58.00 to C$62.00 in a research report on Tuesday, April 19th.
Enbridge Trading Down 1.1 %
NYSE ENB opened at $42.77 on Wednesday. The stock’s 50-day simple moving average is $43.35 and its two-hundred day simple moving average is $43.82. Enbridge has a twelve month low of $36.21 and a twelve month high of $47.67. The company has a quick ratio of 0.60, a current ratio of 0.58 and a debt-to-equity ratio of 1.21. The company has a market capitalization of $86.60 billion, a price-to-earnings ratio of 22.51, a PEG ratio of 3.17 and a beta of 0.78.
Enbridge Cuts Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 1st. Investors of record on Monday, August 15th will be given a $0.668 dividend. The ex-dividend date of this dividend is Friday, August 12th. This represents a $2.67 annualized dividend and a yield of 6.25%. Enbridge’s dividend payout ratio (DPR) is presently 140.00%.
Hedge Funds Weigh In On Enbridge
Several hedge funds and other institutional investors have recently added to or reduced their stakes in ENB. AE Wealth Management LLC raised its stake in Enbridge by 8.8% during the 1st quarter. AE Wealth Management LLC now owns 97,325 shares of the pipeline company’s stock valued at $4,486,000 after buying an additional 7,871 shares during the last quarter. Schnieders Capital Management LLC purchased a new stake in Enbridge during the 1st quarter valued at $217,000. Gateway Investment Advisers LLC purchased a new stake in Enbridge during the 1st quarter valued at $2,648,000. Natixis Advisors L.P. raised its stake in Enbridge by 10.2% during the 4th quarter. Natixis Advisors L.P. now owns 82,219 shares of the pipeline company’s stock valued at $3,213,000 after buying an additional 7,604 shares during the last quarter. Finally, MCIA Inc raised its stake in Enbridge by 1.9% during the 1st quarter. MCIA Inc now owns 42,280 shares of the pipeline company’s stock valued at $1,949,000 after buying an additional 771 shares during the last quarter. 53.23% of the stock is owned by institutional investors.
Enbridge Inc 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.
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