Analysts Set Enbridge Inc (NYSE:ENB) Price Target at $54.86

Enbridge Inc (NYSE:ENB) (TSE:ENB) has been given a consensus recommendation of “Hold” by the sixteen analysts that are covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have issued a buy rating on the company. The average 12-month price target among analysts that have covered the stock in the last year is $54.86.

ENB has been the subject of a number of research reports. Morgan Stanley reiterated an “equal weight” rating and issued a $44.00 price objective (down previously from $45.00) on shares of Enbridge in a research note on Friday, July 14th. Zacks Investment Research cut Enbridge from a “hold” rating to a “sell” rating in a research note on Tuesday, July 11th. BidaskClub upgraded Enbridge from a “strong sell” rating to a “sell” rating in a research report on Saturday, June 24th. J P Morgan Chase & Co reiterated a “neutral” rating on shares of Enbridge in a research report on Friday, June 23rd. Finally, Wolfe Research began coverage on Enbridge in a research report on Friday, May 12th. They issued a “market perform” rating and a $43.00 price objective for the company.

A number of hedge funds have recently bought and sold shares of the stock. GW&K Investment Management LLC raised its stake in Enbridge by 31.9% in the first quarter. GW&K Investment Management LLC now owns 679,208 shares of the pipeline company’s stock valued at $28,418,000 after buying an additional 164,223 shares during the period. Stock Yards Bank & Trust Co. purchased a new stake in Enbridge during the first quarter valued at $589,000. Douglass Winthrop Advisors LLC purchased a new stake in Enbridge during the first quarter valued at $316,000. Creative Planning raised its stake in Enbridge by 511.6% in the first quarter. Creative Planning now owns 79,044 shares of the pipeline company’s stock valued at $3,307,000 after buying an additional 66,119 shares during the period. Finally, Cable Hill Partners LLC purchased a new stake in Enbridge during the first quarter valued at $205,000. 63.83% of the stock is currently owned by institutional investors.

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Enbridge (NYSE:ENB) traded down 0.05% during mid-day trading on Friday, hitting $41.51. 596,880 shares of the stock were exchanged. The firm has a market cap of $68.03 billion, a P/E ratio of 43.47 and a beta of 0.62. Enbridge has a 12-month low of $37.37 and a 12-month high of $45.77. The company has a 50 day moving average of $40.07 and a 200 day moving average of $41.05.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings results on Thursday, August 3rd. The pipeline company reported $0.30 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.35 by $0.05. The business had revenue of $8.26 billion during the quarter, compared to analyst estimates of $8.81 billion. Enbridge had a net margin of 5.28% and a return on equity of 6.04%. During the same period last year, the company earned $0.50 earnings per share. On average, equities analysts anticipate that Enbridge will post $1.78 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Tuesday, August 15th will be issued a $0.489 dividend. This is a positive change from Enbridge’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend is Friday, August 11th. This represents a $1.96 annualized dividend and a yield of 4.71%. Enbridge’s dividend payout ratio is 173.79%.

Enbridge Company Profile

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.