Enbridge Inc. (ENB) To Go Ex-Dividend on May 14th

Enbridge Inc. (NYSE:ENB) (TSE:ENB) declared a quarterly dividend on Wednesday, April 24th, Zacks reports. Shareholders of record on Wednesday, May 15th will be paid a dividend of 0.677 per share by the pipeline company on Saturday, June 1st. This represents a $2.71 annualized dividend and a yield of 7.47%. The ex-dividend date of this dividend is Tuesday, May 14th. This is a boost from Enbridge’s previous quarterly dividend of $0.66.

Enbridge has increased its dividend payment by an average of 2.9% per year over the last three years. Enbridge has a dividend payout ratio of 122.2% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Enbridge to earn $2.23 per share next year, which means the company may not be able to cover its $2.70 annual dividend with an expected future payout ratio of 121.1%.

Enbridge Stock Up 1.7 %

Shares of NYSE:ENB opened at $36.27 on Friday. The business’s 50 day simple moving average is $35.16 and its two-hundred day simple moving average is $34.78. The firm has a market cap of $77.11 billion, a P/E ratio of 17.27, a PEG ratio of 3.34 and a beta of 0.84. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.74 and a current ratio of 0.83. Enbridge has a 52-week low of $31.03 and a 52-week high of $40.30.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings results on Friday, February 9th. The pipeline company reported $0.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.03). Enbridge had a return on equity of 10.23% and a net margin of 13.97%. The firm had revenue of $8.37 billion during the quarter, compared to the consensus estimate of $9.62 billion. As a group, research analysts forecast that Enbridge will post 2.14 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on ENB. Stifel Nicolaus began coverage on Enbridge in a report on Thursday, January 18th. They issued a “hold” rating on the stock. Jefferies Financial Group began coverage on Enbridge in a report on Tuesday, February 27th. They issued a “buy” rating on the stock. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, Enbridge has an average rating of “Hold” and an average price target of $55.20.

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.