Bank of America began coverage on shares of Enbridge (NYSE:ENB) (TSE:ENB) in a research report report published on Tuesday, January 9th, The Fly reports. The firm issued a neutral rating on the pipeline company’s stock.
Several other research firms have also recently weighed in on ENB. GMP Securities cut Enbridge from a buy rating to a hold rating in a research note on Tuesday, October 17th. Zacks Investment Research cut Enbridge from a hold rating to a sell rating in a research note on Tuesday, October 31st. Canaccord Genuity restated a buy rating and set a $54.00 target price on shares of Enbridge in a research note on Thursday, November 30th. Finally, Morgan Stanley cut their price target on Enbridge from $43.00 to $41.00 and set an equal weight rating on the stock in a research report on Friday, November 17th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the company. The company presently has an average rating of Hold and a consensus target price of $52.00.
Shares of Enbridge (ENB) opened at $34.70 on Tuesday. The firm has a market capitalization of $58,540.00, a P/E ratio of 22.10, a P/E/G ratio of 3.19 and a beta of 0.56. Enbridge has a 52 week low of $34.39 and a 52 week high of $43.87. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.50 and a current ratio of 0.64.
Enbridge (NYSE:ENB) (TSE:ENB) last posted its earnings results on Thursday, November 2nd. The pipeline company reported $0.39 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.03. The firm had revenue of $9.23 billion during the quarter, compared to analysts’ expectations of $8.54 billion. Enbridge had a return on equity of 5.62% and a net margin of 7.49%. During the same quarter in the previous year, the business earned $0.47 earnings per share. analysts forecast that Enbridge will post 1.51 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, March 1st. Shareholders of record on Thursday, February 15th will be given a dividend of $0.5278 per share. This is a positive change from Enbridge’s previous quarterly dividend of $0.47. The ex-dividend date is Wednesday, February 14th. This represents a $2.11 annualized dividend and a yield of 6.08%. Enbridge’s payout ratio is 122.29%.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Spectrum Management Group Inc. acquired a new position in shares of Enbridge in the third quarter valued at approximately $113,000. Fieldpoint Private Securities LLC acquired a new position in shares of Enbridge in the third quarter valued at approximately $130,000. Valeo Financial Advisors LLC acquired a new position in shares of Enbridge in the third quarter valued at approximately $146,000. Field & Main Bank acquired a new position in shares of Enbridge in the fourth quarter valued at approximately $149,000. Finally, Patten Group Inc. increased its holdings in shares of Enbridge by 333.2% in the third quarter. Patten Group Inc. now owns 15,752 shares of the pipeline company’s stock valued at $152,000 after purchasing an additional 12,116 shares during the period. 62.26% of the stock is currently owned by institutional investors.
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Enbridge Company Profile
Enbridge Inc is a Canada-based energy transportation and distribution company. The Company is engaged in delivering energy. It operates through five segments: Liquids Pipelines, Gas Distribution, Gas Pipelines and Processing, Green Power and Transmission, and Energy Services. Liquids Pipelines consists of common carrier and contract crude oil, natural gas liquids (NGL), and refined products pipelines and terminals, including Canadian Mainline, Lakehead Pipeline System, Mid-Continent and Gulf Coast and Regional Oil Sands System.
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