Enbridge Inc (ENB) Given Average Rating of “Hold” by Brokerages
Shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) have been assigned an average recommendation of “Hold” from the ten brokerages that are currently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, seven have given a hold recommendation and two have given a buy recommendation to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $52.00.
A number of research analysts recently issued reports on the company. Zacks Investment Research upgraded Enbridge from a “sell” rating to a “hold” rating in a research note on Wednesday, November 8th. Canaccord Genuity reiterated a “buy” rating and set a $54.00 price objective on shares of Enbridge in a research note on Thursday, November 30th. Morgan Stanley lowered their price target on Enbridge from $43.00 to $41.00 and set an “equal weight” rating on the stock in a report on Friday, November 17th. Finally, GMP Securities cut Enbridge from a “buy” rating to a “hold” rating in a report on Tuesday, October 17th.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Spectrum Management Group Inc. purchased a new position in Enbridge in the 3rd quarter worth approximately $113,000. Fieldpoint Private Securities LLC purchased a new position in Enbridge in the 3rd quarter worth approximately $130,000. Valeo Financial Advisors LLC purchased a new position in Enbridge in the 3rd quarter worth approximately $146,000. Patten Group Inc. lifted its holdings in Enbridge by 333.2% in the 3rd quarter. Patten Group Inc. now owns 15,752 shares of the pipeline company’s stock worth $152,000 after purchasing an additional 12,116 shares in the last quarter. Finally, San Francisco Sentry Investment Group CA purchased a new position in Enbridge in the 2nd quarter worth approximately $159,000. 62.14% of the stock is currently owned by institutional investors.
Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings data on Thursday, November 2nd. The pipeline company reported $0.39 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.36 by $0.03. The company had revenue of $9.23 billion during the quarter, compared to the consensus estimate of $8.54 billion. Enbridge had a return on equity of 5.62% and a net margin of 7.49%. During the same period in the previous year, the company posted $0.47 EPS. research analysts predict that Enbridge will post 1.54 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 1st. Investors of record on Thursday, February 15th will be issued a $0.5278 dividend. The ex-dividend date is Wednesday, February 14th. This is a boost from Enbridge’s previous quarterly dividend of $0.47. This represents a $2.11 dividend on an annualized basis and a yield of 5.18%. Enbridge’s payout ratio is currently 122.29%.
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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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