Brokerages Set Enbridge Inc (ENB) Price Target at $51.40

Enbridge Inc (NYSE:ENB) (TSE:ENB) has been assigned a consensus recommendation of “Buy” from the eleven ratings firms that are currently covering the stock, Marketbeat.com reports. Five analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $51.40.

Several analysts recently issued reports on ENB shares. ValuEngine upgraded Enbridge from a “sell” rating to a “hold” rating in a report on Tuesday, October 2nd. Zacks Investment Research downgraded Enbridge from a “buy” rating to a “hold” rating in a report on Tuesday, November 13th. Citigroup reiterated a “neutral” rating on shares of Enbridge in a report on Monday, September 24th. Bank of America upgraded Enbridge from a “neutral” rating to a “buy” rating and increased their price target for the company from $49.00 to $50.00 in a report on Friday, August 17th. Finally, Wells Fargo & Co upgraded Enbridge from a “market perform” rating to an “outperform” rating in a research note on Monday, November 5th.

Shares of NYSE ENB opened at $32.01 on Thursday. Enbridge has a 12-month low of $29.00 and a 12-month high of $41.21. The firm has a market capitalization of $58.53 billion, a P/E ratio of 20.79, a P/E/G ratio of 1.24 and a beta of 0.53. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.59 and a quick ratio of 0.49.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings results on Friday, November 2nd. The pipeline company reported $0.42 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.42. Enbridge had a return on equity of 8.81% and a net margin of 3.95%. The firm had revenue of $8.68 billion during the quarter, compared to the consensus estimate of $8.28 billion. During the same period in the prior year, the firm earned $0.39 EPS. On average, analysts forecast that Enbridge will post 2.23 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Saturday, December 1st. Stockholders of record on Thursday, November 15th will be paid a dividend of $0.51 per share. The ex-dividend date of this dividend is Wednesday, November 14th. This represents a $2.04 annualized dividend and a dividend yield of 6.37%. Enbridge’s dividend payout ratio is presently 132.47%.

Institutional investors have recently made changes to their positions in the company. Welch Group LLC acquired a new stake in shares of Enbridge during the second quarter valued at about $109,000. Honkamp Krueger Financial Services Inc. acquired a new stake in shares of Enbridge during the third quarter valued at about $113,000. Legacy Advisors LLC acquired a new stake in shares of Enbridge during the third quarter valued at about $115,000. Girard Partners LTD. acquired a new stake in shares of Enbridge during the third quarter valued at about $116,000. Finally, Spectrum Management Group Inc. acquired a new stake in shares of Enbridge during the second quarter valued at about $119,000. Institutional investors own 55.08% 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 in 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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Analyst Recommendations for Enbridge (NYSE:ENB)

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