Zacks Investment Research upgraded shares of Enbridge (NYSE:ENB) (TSE:ENB) from a sell rating to a hold rating in a report issued on Monday morning.
According to Zacks, “Enbridge has the longest and most sophisticated crude and liquids pipeline system in the world that spreads over 17,511 miles. We appreciate the merger with Spectra Energy as it has made Enbridge the largest energy infrastructure company in North America in terms of enterprise value. Also, the transaction has given Enbridge the industry’s largest backlog of growth projects, worth around C$75 billion. The company believes that this huge backlog will help it grow dividend by 10% annually through 2020. However, the company’s substantial debt load is a matter of concern. Also, Enbridge’s earnings surprise history fails to impress as the company missed the Zacks Consensus Estimate in three of the last four quarters, the average negative surprise being almost 7%. Moreover, the company has lost 9.1% year to date, underperforming the Zacks Oil Pipeline industry’s 2.5% decline.”
Other equities analysts also recently issued research reports about the company. Canaccord Genuity reiterated a buy rating and set a $54.00 price target on shares of Enbridge in a research note on Thursday, November 30th. Morgan Stanley cut their price target on Enbridge from $43.00 to $41.00 and set an equal weight rating for the company in a research note on Friday, November 17th. GMP Securities cut shares of Enbridge from a buy rating to a hold rating in a research report on Tuesday, October 17th. Finally, BidaskClub raised shares of Enbridge from a strong sell rating to a sell rating in a research report on Friday, August 25th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the stock. The stock currently has an average rating of Hold and a consensus price target of $52.00.
Enbridge (ENB) opened at $38.14 on Monday. The stock has a market capitalization of $63,483.59, a PE ratio of 24.93, a price-to-earnings-growth ratio of 2.67 and a beta of 0.64. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.50 and a current ratio of 0.64. Enbridge has a 12 month low of $34.39 and a 12 month high of $44.51.
Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings results on Thursday, November 2nd. The pipeline company reported $0.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.03. The business had revenue of $9.23 billion during the quarter, compared to the consensus estimate of $8.54 billion. Enbridge had a return on equity of 5.62% and a net margin of 7.49%. During the same quarter in the previous year, the business earned $0.47 EPS. equities research analysts expect that Enbridge will post 1.55 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, March 1st. Shareholders of record on Thursday, February 15th will be given a dividend of $0.5278 per share. The ex-dividend date is Wednesday, February 14th. This represents a $2.11 annualized dividend and a dividend yield of 5.54%. This is a boost from Enbridge’s previous quarterly dividend of $0.47. Enbridge’s dividend payout ratio (DPR) is currently 120.76%.
Several institutional investors have recently bought and sold shares of ENB. First Personal Financial Services raised its holdings in shares of Enbridge by 16.4% in the 2nd quarter. First Personal Financial Services now owns 2,825 shares of the pipeline company’s stock worth $112,000 after purchasing an additional 397 shares during the period. Spectrum Management Group Inc. bought a new stake in shares of Enbridge in the 3rd quarter worth approximately $113,000. Welch Group LLC bought a new stake in shares of Enbridge in the 2nd quarter worth approximately $121,000. Fieldpoint Private Securities LLC bought a new stake in shares of Enbridge in the 3rd quarter worth approximately $130,000. Finally, Valeo Financial Advisors LLC bought a new stake in shares of Enbridge in the 3rd quarter worth approximately $146,000. 62.18% of the stock is currently owned by hedge funds and other institutional investors.
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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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