Enbridge (NYSE:ENB) Earns Buy Rating from Analysts at TD Securities

TD Securities assumed coverage on shares of Enbridge (NYSE:ENB) (TSE:ENB) in a report issued on Wednesday morning, MarketBeat reports. The firm issued a buy rating on the pipeline company’s stock.

Several other equities research analysts have also commented on the stock. Wells Fargo & Company upgraded shares of Enbridge from an “underweight” rating to an “equal weight” rating in a research note on Wednesday, November 6th. Jefferies Financial Group lowered shares of Enbridge from a “buy” rating to a “hold” rating in a research note on Monday, September 30th. Royal Bank of Canada reiterated an “outperform” rating and set a $63.00 price objective (up previously from $59.00) on shares of Enbridge in a research note on Wednesday, December 4th. Finally, Morgan Stanley initiated coverage on Enbridge in a research note on Friday, October 25th. They issued an “equal weight” rating on the stock. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, Enbridge presently has an average rating of “Hold” and a consensus price target of $63.00.

Enbridge Trading Down 0.2 %

NYSE:ENB opened at $44.24 on Wednesday. The company has a market cap of $96.37 billion, a PE ratio of 20.48, a P/E/G ratio of 4.00 and a beta of 0.93. The business’s 50 day moving average is $42.62 and its two-hundred day moving average is $40.42. The company has a quick ratio of 0.54, a current ratio of 0.62 and a debt-to-equity ratio of 1.41. Enbridge has a 52 week low of $32.85 and a 52 week high of $44.74.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings data on Friday, November 1st. The pipeline company reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.15. The firm had revenue of $10.91 billion for the quarter, compared to analyst estimates of $4.54 billion. Enbridge had a net margin of 13.54% and a return on equity of 9.94%. During the same quarter in the prior year, the business earned $0.46 earnings per share. On average, analysts predict that Enbridge will post 1.97 EPS for the current year.

Enbridge Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Saturday, February 15th will be issued a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a dividend yield of 6.06%. The ex-dividend date of this dividend is Friday, February 14th. Enbridge’s dividend payout ratio is 121.76%.

Institutional Investors Weigh In On Enbridge

Hedge funds and other institutional investors have recently made changes to their positions in the business. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its position in shares of Enbridge by 1,514.7% in the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 4,799,345 shares of the pipeline company’s stock valued at $194,938,000 after purchasing an additional 4,502,115 shares during the last quarter. Pathway Financial Advisers LLC increased its position in shares of Enbridge by 4,120.0% in the third quarter. Pathway Financial Advisers LLC now owns 4,571,669 shares of the pipeline company’s stock valued at $185,655,000 after buying an additional 4,463,335 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Enbridge by 27.8% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 12,278,739 shares of the pipeline company’s stock worth $498,734,000 after acquiring an additional 2,668,692 shares during the last quarter. National Bank of Canada FI boosted its position in shares of Enbridge by 12.8% during the 3rd quarter. National Bank of Canada FI now owns 18,163,353 shares of the pipeline company’s stock valued at $737,754,000 after acquiring an additional 2,061,758 shares during the last quarter. Finally, Kayne Anderson Capital Advisors LP lifted its holdings in Enbridge by 55.2% in the third quarter. Kayne Anderson Capital Advisors LP now owns 4,143,265 shares of the pipeline company’s stock worth $168,258,000 after buying an additional 1,472,789 shares during the period. 54.60% of the stock is owned by institutional investors and hedge funds.

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.