Enbridge Inc. (TSE:ENB) Given Average Rating of “Hold” by Brokerages

Shares of Enbridge Inc. (TSE:ENB) (NYSE:ENB) have been given a consensus rating of “Hold” by the eleven ratings firms that are currently covering the firm, Marketbeat.com reports. Seven equities research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is C$63.31.

Several analysts have recently issued reports on the stock. Scotiabank boosted their price objective on shares of Enbridge from C$61.00 to C$65.00 and gave the company a “sector perform” rating in a research note on Thursday, February 13th. Wells Fargo & Company boosted their price target on Enbridge from C$57.00 to C$60.00 in a research report on Thursday, December 5th. Royal Bank of Canada raised their price objective on Enbridge from C$63.00 to C$67.00 in a report on Tuesday, February 18th. JPMorgan Chase & Co. boosted their target price on Enbridge from C$66.00 to C$69.00 in a report on Thursday, December 5th. Finally, CIBC increased their target price on shares of Enbridge from C$66.00 to C$67.00 in a research report on Wednesday, March 5th.

Insiders Place Their Bets

In other news, Senior Officer Cynthia Lynn Hansen sold 1,106 shares of the stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of C$59.94, for a total transaction of C$66,293.64. 0.10% of the stock is currently owned by company insiders.

Enbridge Trading Up 0.4 %

TSE ENB opened at C$61.25 on Thursday. Enbridge has a 12 month low of C$45.39 and a 12 month high of C$65.62. The company has a debt-to-equity ratio of 144.86, a current ratio of 0.62 and a quick ratio of 0.44. The company has a 50-day moving average of C$62.38 and a 200-day moving average of C$59.11. The company has a market cap of C$132.74 billion, a P/E ratio of 19.91, a P/E/G ratio of 1.72 and a beta of 0.90.

Enbridge Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Saturday, March 1st. Investors of record on Saturday, March 1st were paid a dividend of $0.9425 per share. This is an increase from Enbridge’s previous quarterly dividend of $0.92. The ex-dividend date of this dividend was Friday, February 14th. This represents a $3.77 annualized dividend and a yield of 6.16%. Enbridge’s payout ratio is 118.98%.

Enbridge Company Profile

Enbridge owns extensive midstream assets that transport hydrocarbons across the U.S. and Canada. Its pipeline network consists of the Canadian Mainline system, regional oil sands pipelines, and natural gas pipelines. The company also owns and operates a regulated natural gas utility and Canada’s largest natural gas distribution company.