Shares of Enbridge Inc. (NYSE:ENB – Get Rating) (TSE:ENB) have been given a consensus rating of “Hold” by the twelve brokerages that are covering the stock, MarketBeat Ratings reports. Four analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $59.57.
Several research firms have recently commented on ENB. Scotiabank reduced their price objective on Enbridge from C$62.00 to C$56.00 in a research note on Thursday, October 20th. Credit Suisse Group reduced their price objective on Enbridge from C$54.00 to C$52.00 in a research note on Friday, December 9th. National Bank Financial lowered Enbridge from an “outperform” rating to a “sector perform” rating in a research note on Monday, November 7th. StockNews.com began coverage on Enbridge in a research note on Wednesday, October 12th. They issued a “hold” rating for the company. Finally, Morgan Stanley reduced their price objective on Enbridge from C$67.00 to C$64.00 in a research note on Wednesday, October 19th.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Pin Oak Investment Advisors Inc. boosted its holdings in shares of Enbridge by 434.8% during the 2nd quarter. Pin Oak Investment Advisors Inc. now owns 615 shares of the pipeline company’s stock valued at $26,000 after purchasing an additional 500 shares during the last quarter. Financial Connections Group Inc. lifted its holdings in shares of Enbridge by 136.4% in the 2nd quarter. Financial Connections Group Inc. now owns 624 shares of the pipeline company’s stock valued at $26,000 after acquiring an additional 360 shares during the last quarter. Burleson & Company LLC lifted its holdings in shares of Enbridge by 428.6% in the 3rd quarter. Burleson & Company LLC now owns 740 shares of the pipeline company’s stock valued at $27,000 after acquiring an additional 600 shares during the last quarter. Hallmark Capital Management Inc. bought a new position in shares of Enbridge in the 2nd quarter valued at about $32,000. Finally, McClarren Financial Advisors Inc. bought a new position in shares of Enbridge in the 3rd quarter valued at about $29,000. Institutional investors own 49.25% of the company’s stock.
Enbridge Price Performance
Enbridge (NYSE:ENB – Get Rating) (TSE:ENB) last released its quarterly earnings results on Friday, November 4th. The pipeline company reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.01. The firm had revenue of $8.87 billion for the quarter. Enbridge had a return on equity of 10.60% and a net margin of 11.07%. On average, equities analysts predict that Enbridge will post 2.18 earnings per share for the current year.
Enbridge Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 1st. Shareholders of record on Wednesday, February 15th will be issued a dividend of $0.6538 per share. This represents a $2.62 annualized dividend and a dividend yield of 6.30%. The ex-dividend date of this dividend is Tuesday, February 14th. This is an increase from Enbridge’s previous quarterly dividend of $0.63. Enbridge’s dividend payout ratio is 122.75%.
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 the 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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