Enbridge Inc. (NYSE:ENB) Announces Quarterly Dividend of $0.68

Enbridge Inc. (NYSE:ENB) (TSE:ENB) announced a quarterly dividend on Wednesday, October 30th,Zacks Dividends reports. Investors of record on Friday, November 15th will be paid a dividend of 0.676 per share by the pipeline company on Sunday, December 1st. This represents a $2.70 dividend on an annualized basis and a yield of 6.41%. The ex-dividend date of this dividend is Friday, November 15th. This is a positive change from Enbridge’s previous quarterly dividend of $0.67.

Enbridge has increased its dividend by an average of 3.6% annually over the last three years. Enbridge has a payout ratio of 121.2% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Enbridge to earn $2.14 per share next year, which means the company may not be able to cover its $2.63 annual dividend with an expected future payout ratio of 122.9%.

Enbridge Stock Performance

NYSE:ENB opened at $42.18 on Wednesday. The company has a debt-to-equity ratio of 1.41, a current ratio of 0.62 and a quick ratio of 0.54. The firm has a 50-day moving average of $40.98 and a two-hundred day moving average of $38.28. The stock has a market cap of $91.84 billion, a P/E ratio of 19.53, a PEG ratio of 4.16 and a beta of 0.93. Enbridge has a 1-year low of $32.76 and a 1-year high of $43.00.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings data on Friday, November 1st. The pipeline company reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.40 by $0.15. The company had revenue of $10.91 billion during the quarter, compared to analysts’ expectations of $4.54 billion. Enbridge had a net margin of 13.54% and a return on equity of 9.94%. During the same period in the prior year, the company posted $0.46 EPS. On average, research analysts expect that Enbridge will post 2.06 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Wells Fargo & Company raised shares of Enbridge from an “underweight” rating to an “equal weight” rating in a research report on Wednesday, November 6th. Morgan Stanley initiated coverage on shares of Enbridge in a research report on Friday, October 25th. They set an “equal weight” rating on the stock. Finally, Jefferies Financial Group cut shares of Enbridge from a “buy” rating to a “hold” rating in a research report on Monday, September 30th.

About Enbridge

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.