Enbridge (NYSE:ENB) (TSE:ENB) announced its quarterly earnings data on Friday. The pipeline company reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.08, Morningstar.com reports. Enbridge had a return on equity of 8.31% and a net margin of 9.09%. The business had revenue of $9.92 billion during the quarter.
ENB stock traded down $0.14 during midday trading on Friday, hitting $33.50. 2,807,758 shares of the company’s stock were exchanged, compared to its average volume of 2,273,907. The stock’s fifty day moving average is $35.32. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.56 and a current ratio of 0.64. The company has a market cap of $67.58 billion, a P/E ratio of 16.34, a PEG ratio of 2.62 and a beta of 0.59. Enbridge has a one year low of $28.82 and a one year high of $38.04.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st will be issued a dividend of $0.251 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $1.00 annualized dividend and a yield of 3.00%. Enbridge’s dividend payout ratio is presently 106.83%.
A number of brokerages recently commented on ENB. Credit Suisse Group cut Enbridge from an “outperform” rating to a “neutral” rating in a research note on Thursday, April 25th. Bank of America cut Enbridge from a “buy” rating to a “neutral” rating and set a $49.00 price objective for the company. in a research note on Tuesday, July 2nd. Barclays began coverage on Enbridge in a research note on Tuesday, April 9th. They set an “overweight” rating for the company. ValuEngine cut Enbridge from a “hold” rating to a “sell” rating in a research note on Thursday. Finally, Wolfe Research cut Enbridge from an “outperform” rating to a “peer perform” rating and set a $37.00 price objective for the company. in a research note on Thursday, June 13th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $43.75.
In other Enbridge news, insider Albert Monaco bought 7,848 shares of Enbridge stock in a transaction on Wednesday, June 5th. The shares were purchased at an average cost of $49.81 per share, for a total transaction of $390,908.88. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.42% of the company’s stock.
Institutional investors have recently modified their holdings of the company. Manchester Financial Inc. bought a new stake in shares of Enbridge in the second quarter valued at about $25,000. Westside Investment Management Inc. bought a new stake in shares of Enbridge in the second quarter valued at about $25,000. Hanson McClain Inc. lifted its holdings in shares of Enbridge by 41.9% in the first quarter. Hanson McClain Inc. now owns 1,005 shares of the pipeline company’s stock valued at $36,000 after purchasing an additional 297 shares in the last quarter. Cascade Investment Advisors Inc. bought a new stake in shares of Enbridge in the second quarter valued at about $36,000. Finally, Northern Oak Wealth Management Inc. bought a new stake in shares of Enbridge in the second quarter valued at about $36,000. Institutional investors own 55.17% of the company’s stock.
Enbridge Company Profile
Enbridge Inc operates as an energy infrastructure company in Canada and the United States. The company operates through five segments: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution, Green Power and Transmission, and Energy Services. The Liquids Pipelines segment operates common carrier and contract crude oil, natural gas liquids (NGL), and refined products pipelines and terminals.
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