Enbridge Inc. (TSE:ENB) Plans $0.92 Quarterly Dividend

Enbridge Inc. (TSE:ENB) (NYSE:ENB) declared a quarterly dividend on Wednesday, April 24th, RTT News reports. Stockholders of record on Wednesday, May 15th will be given a dividend of 0.915 per share on Saturday, June 1st. This represents a $3.66 dividend on an annualized basis and a dividend yield of 7.57%.

Enbridge Stock Performance

Shares of Enbridge stock traded down C$0.04 during trading on Wednesday, reaching C$48.37. The company’s stock had a trading volume of 396,359 shares, compared to its average volume of 7,095,814. The company has a debt-to-equity ratio of 127.95, a quick ratio of 0.44 and a current ratio of 0.83. The business’s fifty day moving average price is C$47.60 and its 200-day moving average price is C$47.09. The firm has a market cap of C$103.03 billion, a price-to-earnings ratio of 17.05, a price-to-earnings-growth ratio of 0.75 and a beta of 0.89. Enbridge has a one year low of C$42.75 and a one year high of C$54.05.

Enbridge (TSE:ENB) (NYSE:ENB) last issued its quarterly earnings results on Friday, February 9th. The company reported C$0.64 earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.68 by C($0.04). Enbridge had a net margin of 14.18% and a return on equity of 9.47%. The firm had revenue of C$11.30 billion for the quarter, compared to the consensus estimate of C$12.99 billion. As a group, equities research analysts predict that Enbridge will post 2.8389626 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on ENB. Royal Bank of Canada lowered their price target on Enbridge from C$55.00 to C$54.00 and set an “outperform” rating on the stock in a research note on Monday, February 12th. ATB Capital set a C$56.00 price objective on Enbridge and gave the company an “outperform” rating in a report on Friday, January 5th. Barclays decreased their price objective on Enbridge from C$53.00 to C$51.00 in a report on Thursday, March 7th. Jefferies Financial Group decreased their price objective on Enbridge from C$54.00 to C$53.00 and set a “buy” rating on the stock in a report on Wednesday, April 17th. Finally, National Bankshares lifted their price objective on Enbridge from C$51.00 to C$52.00 in a report on Thursday, March 7th. Six equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of C$53.59.

Enbridge Company Profile

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.