Bank of America started coverage on shares of Enbridge (NYSE:ENB) (TSE:ENB) in a report published on Tuesday, The Fly reports. The brokerage issued a neutral rating on the pipeline company’s stock.
ENB has been the subject of several other reports. Zacks Investment Research raised shares of Enbridge from a sell rating to a hold rating in a research report on Monday, December 4th. Morgan Stanley lowered their price objective on shares of Enbridge from $43.00 to $41.00 and set an equal weight rating for the company in a research report on Friday, November 17th. Canaccord Genuity reissued a buy rating and issued a $54.00 price objective on shares of Enbridge in a research report on Thursday, November 30th. Finally, GMP Securities cut shares of Enbridge from a buy rating to a hold rating in a research report on Tuesday, October 17th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company. The stock presently has an average rating of Hold and an average price target of $52.00.
Shares of Enbridge (ENB) opened at $39.74 on Tuesday. The stock has a market cap of $67,110.00, a PE ratio of 25.47, a price-to-earnings-growth ratio of 2.53 and a beta of 0.64. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.64 and a quick ratio of 0.50. Enbridge has a 52-week low of $34.39 and a 52-week high of $44.51.
Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings data on Thursday, November 2nd. The pipeline company reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.03. The company had revenue of $9.23 billion during the quarter, compared to analysts’ expectations of $8.54 billion. Enbridge had a net margin of 7.49% and a return on equity of 5.62%. During the same period in the previous year, the company earned $0.47 EPS. equities research analysts anticipate that Enbridge will post 1.54 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 1st. Shareholders of record on Thursday, February 15th will be given a $0.5278 dividend. This represents a $2.11 annualized dividend and a yield of 5.31%. This is a boost from Enbridge’s previous quarterly dividend of $0.47. The ex-dividend date of this dividend is Wednesday, February 14th. Enbridge’s payout ratio is 123.08%.
Institutional investors and hedge funds have recently made changes to their positions in the company. Capital International Investors lifted its position in shares of Enbridge by 7.8% in the 3rd quarter. Capital International Investors now owns 41,164,593 shares of the pipeline company’s stock worth $1,721,048,000 after purchasing an additional 2,984,467 shares during the period. Global X MANAGEMENT CO LLC lifted its position in shares of Enbridge by 0.6% in the 3rd quarter. Global X MANAGEMENT CO LLC now owns 676,054 shares of the pipeline company’s stock worth $28,286,000 after purchasing an additional 4,162 shares during the period. Cambridge Investment Research Advisors Inc. lifted its position in shares of Enbridge by 5.3% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 155,772 shares of the pipeline company’s stock worth $6,518,000 after purchasing an additional 7,820 shares during the period. Scotia Capital Inc. lifted its position in shares of Enbridge by 8.1% in the 2nd quarter. Scotia Capital Inc. now owns 4,590,960 shares of the pipeline company’s stock worth $182,901,000 after purchasing an additional 344,339 shares during the period. Finally, K.J. Harrison & Partners Inc lifted its position in shares of Enbridge by 101.2% in the 3rd quarter. K.J. Harrison & Partners Inc now owns 77,812 shares of the pipeline company’s stock worth $3,242,000 after purchasing an additional 39,147 shares during the period. 62.14% of the stock is owned by hedge funds and other institutional investors.
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.
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