Enbridge Inc. (NYSE:ENB) Receives $51.50 Consensus Target Price from Analysts

Shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) have received a consensus rating of “Reduce” from the six brokerages that are currently covering the firm, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating on the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $51.50.

Separately, Jefferies Financial Group lowered Enbridge from a “buy” rating to a “hold” rating in a research note on Monday, September 30th.

Institutional Investors Weigh In On Enbridge

Several hedge funds and other institutional investors have recently bought and sold shares of ENB. TruNorth Capital Management LLC purchased a new stake in Enbridge during the 2nd quarter worth approximately $28,000. William B. Walkup & Associates Inc. purchased a new stake in Enbridge during the 2nd quarter worth approximately $28,000. Ameritas Investment Partners Inc. purchased a new stake in Enbridge during the 1st quarter worth approximately $29,000. Richardson Financial Services Inc. purchased a new stake in Enbridge during the 1st quarter worth approximately $31,000. Finally, PFS Partners LLC increased its holdings in Enbridge by 95.8% during the 1st quarter. PFS Partners LLC now owns 922 shares of the pipeline company’s stock worth $33,000 after purchasing an additional 451 shares during the last quarter. 54.60% of the stock is currently owned by hedge funds and other institutional investors.

Enbridge Stock Up 0.8 %

Shares of NYSE:ENB opened at $41.07 on Monday. The firm has a market cap of $87.64 billion, a price-to-earnings ratio of 20.85, a PEG ratio of 3.93 and a beta of 0.93. Enbridge has a 12-month low of $31.17 and a 12-month high of $41.35. The company has a current ratio of 0.77, a quick ratio of 0.68 and a debt-to-equity ratio of 1.34. The stock’s 50-day moving average price is $39.70 and its two-hundred day moving average price is $37.15.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings data on Friday, August 2nd. The pipeline company reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.13. The business had revenue of $8.29 billion for the quarter, compared to analyst estimates of $4.28 billion. Enbridge had a return on equity of 10.07% and a net margin of 13.31%. During the same period in the previous year, the company posted $0.51 EPS. On average, research analysts forecast that Enbridge will post 2.08 EPS for the current year.

Enbridge Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Thursday, August 15th were given a dividend of $0.669 per share. This represents a $2.68 annualized dividend and a yield of 6.52%. The ex-dividend date of this dividend was Thursday, August 15th. Enbridge’s dividend payout ratio (DPR) is presently 134.01%.

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.