Shares of Enbridge Inc. (NYSE:ENB – Get Rating) (TSE:ENB) have earned a consensus recommendation of “Moderate Buy” from the fourteen brokerages that are presently covering the stock, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $60.00.
A number of equities analysts have recently weighed in on the company. Industrial Alliance Securities upgraded Enbridge from a “hold” rating to a “buy” rating and set a C$60.00 target price on the stock in a research note on Wednesday, August 3rd. US Capital Advisors lowered Enbridge from an “overweight” rating to a “hold” rating in a research note on Tuesday, July 26th. Raymond James upgraded Enbridge from a “market perform” rating to an “outperform” rating in a research note on Monday, September 12th. Finally, National Bank Financial increased their price target on Enbridge from C$60.00 to C$61.00 in a research report on Tuesday, August 2nd.
Institutional Investors Weigh In On Enbridge
Several hedge funds have recently modified their holdings of the company. Associated Banc Corp increased its holdings in shares of Enbridge by 3.0% in the second quarter. Associated Banc Corp now owns 8,123 shares of the pipeline company’s stock worth $343,000 after purchasing an additional 235 shares during the period. Whittier Trust Co. of Nevada Inc. increased its holdings in shares of Enbridge by 3.7% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 6,574 shares of the pipeline company’s stock worth $303,000 after purchasing an additional 236 shares during the period. Belpointe Asset Management LLC increased its holdings in shares of Enbridge by 1.8% in the first quarter. Belpointe Asset Management LLC now owns 13,703 shares of the pipeline company’s stock worth $632,000 after purchasing an additional 237 shares during the period. Wedbush Securities Inc. grew its position in Enbridge by 0.4% in the first quarter. Wedbush Securities Inc. now owns 55,429 shares of the pipeline company’s stock worth $2,555,000 after acquiring an additional 238 shares in the last quarter. Finally, Hancock Whitney Corp grew its position in Enbridge by 4.4% in the second quarter. Hancock Whitney Corp now owns 5,682 shares of the pipeline company’s stock worth $240,000 after acquiring an additional 238 shares in the last quarter. Institutional investors and hedge funds own 49.26% of the company’s stock.
Enbridge Price Performance
Enbridge (NYSE:ENB – Get Rating) (TSE:ENB) last announced its earnings results on Friday, July 29th. The pipeline company reported $0.67 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.10. Enbridge had a return on equity of 10.46% and a net margin of 9.98%. During the same quarter last year, the company earned $0.55 EPS. On average, analysts anticipate that Enbridge will post 2.3 earnings per share for the current year.
Enbridge Cuts Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 1st. Investors of record on Monday, August 15th were issued a dividend of $0.668 per share. This represents a $2.67 annualized dividend and a dividend yield of 6.66%. The ex-dividend date was Friday, August 12th. Enbridge’s dividend payout ratio (DPR) is 140.00%.
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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