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

Enbridge Inc. (NYSE:ENBGet Free Report) (TSE:ENB) has been given a consensus rating of “Hold” by the ten brokerages that are currently covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating on the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $55.20.

A number of analysts have weighed in on the company. Royal Bank of Canada decreased their price objective on Enbridge from $60.00 to $55.00 and set an “outperform” rating for the company in a research report on Monday, November 6th. Stifel Nicolaus initiated coverage on Enbridge in a report on Thursday, January 18th. They set a “hold” rating on the stock. Barclays reduced their target price on Enbridge from $54.00 to $48.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 18th. Wells Fargo & Company lowered Enbridge from an “equal weight” rating to an “underweight” rating in a research report on Wednesday, October 25th. Finally, Wolfe Research lowered Enbridge from a “peer perform” rating to an “underperform” rating in a research report on Tuesday, October 17th.

Get Our Latest Research Report on Enbridge

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the company. Harbor Investment Advisory LLC raised its stake in shares of Enbridge by 5.2% in the fourth quarter. Harbor Investment Advisory LLC now owns 5,623 shares of the pipeline company’s stock valued at $203,000 after acquiring an additional 280 shares during the last quarter. SVB Wealth LLC grew its holdings in Enbridge by 3.1% during the 1st quarter. SVB Wealth LLC now owns 9,781 shares of the pipeline company’s stock worth $373,000 after acquiring an additional 297 shares during the period. North Star Investment Management Corp. grew its holdings in Enbridge by 24.6% during the 4th quarter. North Star Investment Management Corp. now owns 1,519 shares of the pipeline company’s stock worth $55,000 after acquiring an additional 300 shares during the period. Key Financial Inc grew its holdings in Enbridge by 18.7% during the 2nd quarter. Key Financial Inc now owns 1,973 shares of the pipeline company’s stock worth $73,000 after acquiring an additional 311 shares during the period. Finally, Capital Investment Counsel Inc grew its holdings in Enbridge by 5.2% during the 4th quarter. Capital Investment Counsel Inc now owns 6,564 shares of the pipeline company’s stock worth $237,000 after acquiring an additional 326 shares during the period. Institutional investors own 48.29% of the company’s stock.

Enbridge Stock Performance

Shares of NYSE:ENB opened at $34.23 on Friday. The business’s 50 day moving average price is $35.75 and its 200-day moving average price is $34.64. The firm has a market capitalization of $72.76 billion, a PE ratio of 16.30, a P/E/G ratio of 3.20 and a beta of 0.85. Enbridge has a 1 year low of $31.03 and a 1 year high of $40.92. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.67 and a quick ratio of 0.57.

Enbridge Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 1st. Shareholders of record on Thursday, February 15th will be paid a dividend of $0.659 per share. This is a boost from Enbridge’s previous quarterly dividend of $0.64. The ex-dividend date is Wednesday, February 14th. This represents a $2.64 dividend on an annualized basis and a yield of 7.70%. Enbridge’s dividend payout ratio (DPR) is currently 128.10%.

About Enbridge

(Get Free Report

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.

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Analyst Recommendations for Enbridge (NYSE:ENB)

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