Enbridge Inc. (NYSE:ENB) Given Average Recommendation of “Buy” by Brokerages

Enbridge Inc. (NYSE:ENB) (TSE:ENB) has earned an average rating of “Buy” from the sixteen analysts that are covering the firm, MarketBeat.com reports. Six analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $53.40.

Several equities research analysts have commented on ENB shares. Royal Bank of Canada lowered their price target on shares of Enbridge from C$61.00 to C$60.00 and set an “outperform” rating on the stock in a report on Monday, November 29th. National Bank Financial upped their price target on shares of Enbridge from C$51.00 to C$54.00 and gave the company an “outperform” rating in a report on Monday, November 8th. Tudor Pickering reaffirmed a “buy” rating and issued a C$54.00 price target on shares of Enbridge in a report on Friday, November 5th. TD Securities upped their price objective on shares of Enbridge from C$55.00 to C$57.00 and gave the stock a “buy” rating in a research report on Monday, November 8th. Finally, Wells Fargo & Company upped their price objective on shares of Enbridge from $53.00 to $56.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 29th.

NYSE ENB opened at $41.66 on Friday. The firm’s fifty day simple moving average is $39.17 and its two-hundred day simple moving average is $39.82. The company has a current ratio of 0.55, a quick ratio of 0.46 and a debt-to-equity ratio of 1.14. Enbridge has a 12-month low of $33.41 and a 12-month high of $43.35. The firm has a market capitalization of $84.40 billion, a P/E ratio of 18.77, a P/E/G ratio of 2.84 and a beta of 0.86.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings results on Friday, November 5th. The pipeline company reported $0.47 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.46 by $0.01. The business had revenue of $9.11 billion for the quarter, compared to analyst estimates of $9.68 billion. Enbridge had a net margin of 13.47% and a return on equity of 9.76%. During the same period in the previous year, the company earned $0.36 earnings per share. As a group, sell-side analysts predict that Enbridge will post 2.23 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 1st. Shareholders of record on Tuesday, February 15th will be given a dividend of $0.673 per share. This represents a $2.69 annualized dividend and a yield of 6.46%. The ex-dividend date is Monday, February 14th. Enbridge’s payout ratio is currently 120.27%.

Several large investors have recently modified their holdings of ENB. Vanguard Group Inc. lifted its stake in shares of Enbridge by 0.7% in the second quarter. Vanguard Group Inc. now owns 63,080,353 shares of the pipeline company’s stock valued at $2,525,737,000 after purchasing an additional 427,996 shares during the period. TD Asset Management Inc. lifted its stake in shares of Enbridge by 0.6% in the third quarter. TD Asset Management Inc. now owns 30,167,189 shares of the pipeline company’s stock valued at $1,201,592,000 after purchasing an additional 188,936 shares during the period. Toronto Dominion Bank lifted its stake in shares of Enbridge by 24.0% in the third quarter. Toronto Dominion Bank now owns 21,728,940 shares of the pipeline company’s stock valued at $890,622,000 after purchasing an additional 4,208,208 shares during the period. CIBC Asset Management Inc lifted its stake in shares of Enbridge by 9.8% in the third quarter. CIBC Asset Management Inc now owns 20,956,127 shares of the pipeline company’s stock valued at $829,172,000 after purchasing an additional 1,876,500 shares during the period. Finally, Deutsche Bank AG lifted its stake in shares of Enbridge by 9.1% in the third quarter. Deutsche Bank AG now owns 20,431,105 shares of the pipeline company’s stock valued at $813,157,000 after purchasing an additional 1,697,064 shares during the period. 48.35% of the stock is currently owned by institutional investors and hedge funds.

Enbridge Company Profile

Enbridge, Inc engages in the provision of gas and oil businesses. It operates through the following segments: Liquid Pipelines, Gas Distribution & Storage, Gas Transmission & Midstream, Renewable Power Generation, and Energy Services. The Liquids Pipelines segment consists of common carrier and contract crude oil, natural gas liquids and refined products pipelines and terminals in Canada and U.S., including Canadian Mainline, Regional Oil Sands System, Southern Lights Pipeline, Spearhead Pipeline, Seaway Crude Pipeline interest, and other feeder pipelines.

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Analyst Recommendations for Enbridge (NYSE:ENB)

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