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

Shares of Enbridge Inc. (TSE:ENB) (NYSE:ENB) have been assigned an average rating of “Hold” from the eleven research firms that are currently covering the stock, Marketbeat.com reports. Seven research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is C$63.31.

A number of analysts have commented on ENB shares. BMO Capital Markets upped their price target on Enbridge from C$59.00 to C$60.00 in a research report on Wednesday, December 4th. JPMorgan Chase & Co. increased their target price on Enbridge from C$66.00 to C$69.00 in a research report on Thursday, December 5th. Jefferies Financial Group increased their target price on Enbridge from C$59.00 to C$65.00 in a research report on Thursday, January 30th. Barclays increased their target price on Enbridge from C$59.00 to C$64.00 in a research report on Monday, January 6th. Finally, CIBC increased their target price on Enbridge from C$66.00 to C$67.00 in a research report on Wednesday, March 5th.

Insider Activity

In other news, Senior Officer Cynthia Lynn Hansen sold 1,106 shares of the firm’s stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of C$59.94, for a total value of C$66,293.64. Also, Senior Officer Matthew Allan Akman acquired 1,000 shares of the stock in a transaction dated Friday, March 14th. The stock was bought at an average cost of C$61.24 per share, with a total value of C$61,240.00. Corporate insiders own 0.10% of the company’s stock.

Enbridge Stock Performance

Shares of ENB opened at C$62.67 on Thursday. The company has a quick ratio of 0.44, a current ratio of 0.62 and a debt-to-equity ratio of 144.86. The business has a 50-day simple moving average of C$62.34 and a two-hundred day simple moving average of C$59.41. The stock has a market cap of C$135.82 billion, a price-to-earnings ratio of 20.37, a PEG ratio of 1.72 and a beta of 0.90. Enbridge has a 52 week low of C$45.39 and a 52 week high of C$65.62.

Enbridge Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Saturday, March 1st. Stockholders of record on Saturday, March 1st were paid a $0.9425 dividend. This represents a $3.77 annualized dividend and a dividend yield of 6.02%. This is a positive change from Enbridge’s previous quarterly dividend of $0.92. The ex-dividend date of this dividend was Friday, February 14th. Enbridge’s dividend payout ratio (DPR) is presently 118.98%.

About Enbridge

Enbridge owns extensive midstream assets that transport hydrocarbons across the U.S. and Canada. Its pipeline network consists of the Canadian Mainline system, regional oil sands pipelines, and natural gas pipelines. The company also owns and operates a regulated natural gas utility and Canada’s largest natural gas distribution company.