Enbridge Inc (ENB) To Go Ex-Dividend on November 14th

Enbridge Inc (NYSE:ENB) (TSE:ENB) declared a quarterly dividend on Wednesday, November 5th. Stockholders of record on Friday, November 14th will be paid a dividend of 0.9425 per share by the pipeline company on Monday, December 1st. This represents a c) dividend on an annualized basis and a dividend yield of 7.7%. The ex-dividend date of this dividend is Friday, November 14th. This is a 37.8% increase from Enbridge’s previous quarterly dividend of $0.68.

Enbridge has decreased its dividend payment by an average of 0.1%per year over the last three years and has raised its dividend annually for the last 2 consecutive years. Enbridge has a dividend payout ratio of 117.5% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Enbridge to earn $2.18 per share next year, which means the company may not be able to cover its $2.68 annual dividend with an expected future payout ratio of 122.9%.

Enbridge Price Performance

Shares of ENB stock traded up $0.53 during midday trading on Wednesday, reaching $48.82. 1,638,474 shares of the company traded hands, compared to its average volume of 3,858,890. The firm has a market cap of $106.48 billion, a PE ratio of 24.02, a price-to-earnings-growth ratio of 4.31 and a beta of 0.76. The company has a debt-to-equity ratio of 1.58, a current ratio of 0.75 and a quick ratio of 0.65. The firm’s 50 day simple moving average is $48.27 and its two-hundred day simple moving average is $46.79. Enbridge has a 1-year low of $39.73 and a 1-year high of $50.54.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings results on Friday, November 7th. The pipeline company reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.06). Enbridge had a net margin of 10.11% and a return on equity of 10.77%. The company had revenue of $7 billion during the quarter, compared to analyst estimates of $8.45 billion. During the same quarter last year, the business earned $0.55 EPS. On average, equities research analysts expect that Enbridge will post 2.14 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently commented on ENB. Zacks Research cut Enbridge from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 17th. Wall Street Zen lowered Enbridge from a “hold” rating to a “sell” rating in a research report on Sunday, September 21st. Argus increased their price objective on Enbridge from $50.00 to $54.00 and gave the stock a “buy” rating in a report on Tuesday, August 12th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Enbridge in a research report on Wednesday, November 5th. Finally, National Bankshares reiterated a “sector perform” rating on shares of Enbridge in a report on Monday. Six research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $63.00.

Enbridge Company Profile

Enbridge Inc, together with its subsidiaries, operates as an energy infrastructure company. The company operates through five segments: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution and Storage, Renewable Power Generation, and Energy Services. The Liquids Pipelines segment operates pipelines and related terminals to transport various grades of crude oil and other liquid hydrocarbons in Canada and the United States.