Enbridge Inc (NYSE:ENB – Get Free Report) (TSE:ENB) has been assigned an average recommendation of “Moderate Buy” from the twelve ratings firms that are currently covering the company, MarketBeat.com reports. Five equities research analysts have rated the stock with a hold recommendation, six have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $67.00.
A number of research analysts have commented on the stock. National Bank Financial upgraded shares of Enbridge from a “hold” rating to a “strong-buy” rating in a research note on Wednesday. Weiss Ratings reissued a “buy (b)” rating on shares of Enbridge in a report on Wednesday, August 19th. Wolfe Research set a $50.00 price target on Enbridge in a research report on Tuesday, August 4th. BMO Capital Markets reaffirmed a “market perform” rating on shares of Enbridge in a research note on Monday, August 3rd. Finally, TD Securities reaffirmed a “hold” rating on shares of Enbridge in a research note on Thursday, July 16th.
Read Our Latest Stock Analysis on Enbridge
Enbridge News Summary
- Positive Sentiment: Enbridge agreed to acquire Tallgrass’ crude transportation business for approximately US$2.55 billion. The assets include a 75% interest in the Pony Express pipeline, as well as storage and terminal infrastructure connecting Rocky Mountain production with Cushing, Oklahoma. Enbridge expects the deal to be accretive to distributable cash flow per share in the first full year, strengthening its U.S. liquids pipeline platform. Enbridge to Acquire Tallgrass’ Crude Transportation Business
- Positive Sentiment: National Bank Financial upgraded Enbridge from “hold” to “strong-buy,” adding analyst support after the recent pullback. Enbridge Analyst Upgrade
- Positive Sentiment: Short interest fell 47% between August 15 and August 31, leaving about 1.7% of shares sold short. The reduction suggests bearish positioning has eased and may provide technical support.
- Positive Sentiment: Investors continue to highlight Enbridge’s scale, diversified infrastructure portfolio and long dividend record, including 31 consecutive years of dividend increases. Enbridge Dividend Article
- Neutral Sentiment: Enbridge is also pursuing gas infrastructure growth, including a reported $33 million Enbridge Gas Ohio pipeline project, while broader midstream mergers are being driven by LNG, NGL and crude export demand. Enbridge Gas Ohio Pipeline Project
- Negative Sentiment: To help fund the Tallgrass acquisition and other opportunities, Enbridge launched a bought-deal offering of approximately C$2.6 billion, issuing 38.9 million shares at C$66.85. The added share count creates near-term dilution and overshadowed the acquisition’s expected cash-flow benefits. Enbridge Equity Offering and Tallgrass Analysis
- Negative Sentiment: Michigan Governor Gretchen Whitmer again urged Enbridge to shut down Line 5 and said the state is reconsidering related permits, maintaining regulatory and operational risk around the pipeline. Whitmer Line 5 Comments
Enbridge Price Performance
Shares of ENB opened at $48.24 on Friday. The company has a debt-to-equity ratio of 1.69, a current ratio of 0.72 and a quick ratio of 0.66. Enbridge has a 1-year low of $45.03 and a 1-year high of $58.45. The stock has a market cap of $105.36 billion, a PE ratio of 25.80, a price-to-earnings-growth ratio of 5.95 and a beta of 0.57. The firm has a fifty day moving average price of $52.76 and a 200 day moving average price of $53.91.
Enbridge (NYSE:ENB – Get Free Report) (TSE:ENB) last released its quarterly earnings results on Friday, July 31st. The pipeline company reported $0.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.03. The firm had revenue of $9.70 billion for the quarter, compared to the consensus estimate of $8.67 billion. Enbridge had a return on equity of 11.17% and a net margin of 7.20%.During the same quarter last year, the business posted $0.65 EPS. As a group, sell-side analysts anticipate that Enbridge will post 2.11 EPS for the current year.
Enbridge Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Tuesday, September 1st. Stockholders of record on Friday, August 14th were issued a $0.97 dividend. The ex-dividend date of this dividend was Friday, August 14th. This represents a $3.88 dividend on an annualized basis and a dividend yield of 8.0%. Enbridge’s payout ratio is presently 147.06%.
Institutional Investors Weigh In On Enbridge
Several hedge funds have recently modified their holdings of ENB. Core Capital Management & Research inc. acquired a new position in Enbridge in the 2nd quarter valued at $66,000. The Manufacturers Life Insurance Company boosted its holdings in shares of Enbridge by 2.5% in the second quarter. The Manufacturers Life Insurance Company now owns 11,079,469 shares of the pipeline company’s stock valued at $599,709,000 after acquiring an additional 268,800 shares in the last quarter. Tidal Investments LLC boosted its holdings in shares of Enbridge by 25.0% in the second quarter. Tidal Investments LLC now owns 37,463 shares of the pipeline company’s stock valued at $2,031,000 after acquiring an additional 7,489 shares in the last quarter. Van Hulzen Asset Management LLC increased its stake in shares of Enbridge by 19.9% during the second quarter. Van Hulzen Asset Management LLC now owns 5,420 shares of the pipeline company’s stock worth $294,000 after acquiring an additional 900 shares during the period. Finally, MCF Advisors LLC increased its stake in shares of Enbridge by 52.2% during the second quarter. MCF Advisors LLC now owns 3,078 shares of the pipeline company’s stock worth $167,000 after acquiring an additional 1,055 shares during the period. 54.60% of the stock is owned by institutional investors and hedge funds.
Enbridge Company Profile
Enbridge Inc is a Canadian energy infrastructure company headquartered in Calgary, Alberta. Founded in 1949 as Interprovincial Pipe Line, the company has grown into one of North America’s largest energy delivery businesses, operating primarily in Canada and the United States.
Enbridge’s operations include crude oil and liquids pipelines, natural gas transmission and storage, and natural gas distribution and utility services. Its pipeline systems transport energy products from producing regions to refineries, export facilities, utilities and other customers.
Featured Articles
- Five stocks we like better than Enbridge
- AeroVironment’s Record Backlog and Earnings Beat Fuel Recovery Case
- Corning Just Locked In a Massive Verizon Fiber Deal as AI Infrastructure Expands
- 3 Under-$20 Stocks Tied to the Future of U.S. Energy and Materials
- Uncle Sam’s Quantum Leap: Feds Fund a $300M Quantum Supercycle
Receive News & Ratings for Enbridge Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Enbridge and related companies with MarketBeat.com's FREE daily email newsletter.
