Enbridge Inc (NYSE:ENB) (TSE:ENB) has received an average recommendation of “Buy” from the fourteen brokerages that are covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and eight have assigned a buy recommendation to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $55.00.
A number of equities analysts have recently weighed in on the stock. Zacks Investment Research raised shares of Enbridge from a “hold” rating to a “buy” rating and set a $48.00 price objective for the company in a research report on Thursday, February 16th. Wells Fargo & Company reissued a “market perform” rating on shares of Enbridge in a research report on Friday, March 31st. Credit Suisse Group assumed coverage on shares of Enbridge in a research report on Tuesday, March 14th. They issued an “outperform” rating and a $70.00 price objective for the company. Wolfe Research assumed coverage on shares of Enbridge in a research report on Friday, May 12th. They issued a “market perform” rating and a $43.00 price objective for the company. Finally, Morgan Stanley assumed coverage on shares of Enbridge in a research report on Tuesday, May 2nd. They issued an “equal weight” rating and a $45.00 price objective for the company.
A number of large investors have recently added to or reduced their stakes in ENB. Goelzer Investment Management Inc. acquired a new stake in Enbridge during the first quarter valued at about $4,602,000. Meyer Handelman Co. acquired a new stake in Enbridge during the first quarter valued at about $7,364,000. Renaissance Technologies LLC increased its stake in Enbridge by 103.6% in the fourth quarter. Renaissance Technologies LLC now owns 1,275,569 shares of the pipeline company’s stock valued at $53,712,000 after buying an additional 649,200 shares in the last quarter. M. Kraus & Co acquired a new stake in Enbridge during the first quarter valued at about $5,227,000. Finally, Brookfield Asset Management Inc. increased its stake in Enbridge by 24,914.7% in the fourth quarter. Brookfield Asset Management Inc. now owns 3,752,212 shares of the pipeline company’s stock valued at $157,726,000 after buying an additional 3,737,212 shares in the last quarter. Institutional investors own 62.92% of the company’s stock.
Enbridge (NYSE:ENB) traded up 2.56% during mid-day trading on Tuesday, hitting $38.89. 3,777,195 shares of the stock traded hands. The company has a market cap of $63.73 billion, a price-to-earnings ratio of 43.60 and a beta of 0.61. The firm’s 50-day moving average is $39.63 and its 200-day moving average is $41.55. Enbridge has a 12-month low of $37.37 and a 12-month high of $45.77.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 1st. Shareholders of record on Monday, May 15th were paid a dividend of $0.4435 per share. This is an increase from Enbridge’s previous quarterly dividend of $0.33. This represents a $1.77 annualized dividend and a yield of 4.56%. The ex-dividend date was Thursday, May 11th. Enbridge’s payout ratio is currently 208.14%.
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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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