Brokerages Set Enbridge Inc (NYSE:ENB) Price Target at $67.00

Enbridge Inc (NYSE:ENB) (TSE:ENB) has received an average rating of “Hold” from the nine ratings firms that are currently covering the firm, MarketBeat Ratings reports. Five investment analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $67.00.

A number of analysts recently weighed in on the company. Citigroup assumed coverage on Enbridge in a report on Friday, April 4th. They issued a “buy” rating for the company. Wall Street Zen raised Enbridge from a “sell” rating to a “hold” rating in a research note on Thursday, May 22nd. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $67.00 price objective on shares of Enbridge in a research note on Monday, May 12th. National Bankshares reissued a “sector perform” rating on shares of Enbridge in a research report on Monday, May 12th. Finally, Raymond James Financial upgraded shares of Enbridge to a “moderate buy” rating in a report on Wednesday, April 23rd.

Enbridge Stock Performance

NYSE:ENB opened at $45.28 on Friday. The stock’s 50-day moving average is $45.44 and its 200-day moving average is $44.39. Enbridge has a 1-year low of $35.68 and a 1-year high of $47.44. The company has a current ratio of 0.73, a quick ratio of 0.66 and a debt-to-equity ratio of 1.51. The stock has a market cap of $98.72 billion, a P/E ratio of 23.34, a price-to-earnings-growth ratio of 4.25 and a beta of 0.79.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its earnings results on Friday, May 9th. The pipeline company reported $0.72 EPS for the quarter, topping the consensus estimate of $0.68 by $0.04. Enbridge had a net margin of 10.16% and a return on equity of 10.41%. The business had revenue of $7.27 billion for the quarter, compared to the consensus estimate of $10.20 billion. During the same period last year, the company earned $0.92 EPS. Equities research analysts anticipate that Enbridge will post 2.14 earnings per share for the current year.

Enbridge Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Sunday, June 1st. Investors of record on Thursday, May 15th were given a dividend of $0.679 per share. This is a positive change from Enbridge’s previous quarterly dividend of $0.67. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $2.72 annualized dividend and a dividend yield of 6.00%. Enbridge’s dividend payout ratio is presently 140.21%.

Institutional Investors Weigh In On Enbridge

A number of hedge funds have recently added to or reduced their stakes in the business. Capital Investment Counsel Inc increased its holdings in shares of Enbridge by 3.1% during the first quarter. Capital Investment Counsel Inc now owns 7,527 shares of the pipeline company’s stock valued at $333,000 after acquiring an additional 223 shares in the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors grew its position in Enbridge by 0.7% in the 1st quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 34,326 shares of the pipeline company’s stock valued at $1,526,000 after purchasing an additional 226 shares during the period. Loudon Investment Management LLC increased its stake in Enbridge by 1.1% during the 1st quarter. Loudon Investment Management LLC now owns 21,201 shares of the pipeline company’s stock valued at $939,000 after purchasing an additional 240 shares in the last quarter. Key Client Fiduciary Advisors LLC raised its holdings in Enbridge by 1.7% during the second quarter. Key Client Fiduciary Advisors LLC now owns 14,606 shares of the pipeline company’s stock worth $662,000 after buying an additional 242 shares during the last quarter. Finally, Sound View Wealth Advisors Group LLC grew its holdings in shares of Enbridge by 4.8% during the first quarter. Sound View Wealth Advisors Group LLC now owns 5,304 shares of the pipeline company’s stock valued at $235,000 after buying an additional 243 shares during the last quarter. 54.60% of the stock is currently owned by institutional investors.

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.