Shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) have received a consensus rating of “Buy” from the eleven research firms that are presently covering the stock, Marketbeat reports. One analyst has rated the stock with a hold recommendation and ten have given a buy recommendation to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $52.50.
Several analysts have issued reports on the stock. CIBC reduced their price target on shares of Enbridge from $53.00 to $52.00 and set an “outperform” rating on the stock in a report on Tuesday, February 16th. Credit Suisse Group upped their price target on shares of Enbridge from $48.00 to $50.00 and gave the company a “neutral” rating in a report on Friday, January 29th. National Bank Financial reissued an “outperform” rating on shares of Enbridge in a research report on Wednesday, January 27th. TD Securities boosted their price objective on shares of Enbridge from $53.00 to $54.00 and gave the company a “buy” rating in a research report on Tuesday, February 16th. Finally, Stifel Nicolaus cut their price objective on shares of Enbridge from $58.00 to $57.00 and set a “buy” rating for the company in a research report on Tuesday, February 16th.
A number of hedge funds have recently modified their holdings of the stock. MML Investors Services LLC increased its position in Enbridge by 14.5% during the first quarter. MML Investors Services LLC now owns 491,160 shares of the pipeline company’s stock worth $17,878,000 after purchasing an additional 62,353 shares during the last quarter. Founders Financial Alliance LLC increased its position in shares of Enbridge by 15.2% in the first quarter. Founders Financial Alliance LLC now owns 8,329 shares of the pipeline company’s stock worth $324,000 after acquiring an additional 1,101 shares in the last quarter. Benjamin Edwards Inc. increased its position in shares of Enbridge by 1,308.5% in the first quarter. Benjamin Edwards Inc. now owns 2,831 shares of the pipeline company’s stock worth $103,000 after acquiring an additional 2,630 shares in the last quarter. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Enbridge in the first quarter worth $958,000. Finally, Greenline Partners LLC increased its position in shares of Enbridge by 3.6% in the first quarter. Greenline Partners LLC now owns 178,190 shares of the pipeline company’s stock worth $6,486,000 after acquiring an additional 6,155 shares in the last quarter. 51.11% of the stock is owned by hedge funds and other institutional investors.
Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings results on Thursday, February 11th. The pipeline company reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $0.10. Enbridge had a net margin of 5.57% and a return on equity of 8.50%. The company had revenue of $7.68 billion for the quarter, compared to the consensus estimate of $10.04 billion. During the same quarter in the prior year, the firm earned $0.61 earnings per share. Sell-side analysts expect that Enbridge will post 1.91 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 1st. Investors of record on Friday, May 14th will be given a dividend of $0.6778 per share. This is a positive change from Enbridge’s previous quarterly dividend of $0.65. The ex-dividend date of this dividend is Thursday, May 13th. This represents a $2.71 annualized dividend and a yield of 6.96%. Enbridge’s dividend payout ratio is 130.50%.
Enbridge Company Profile
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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