Raymond James reaffirmed their buy rating on shares of Enbridge (NYSE:ENB) (TSE:ENB) in a research report released on Thursday, AnalystRatings.com reports. The firm currently has a $55.00 price objective on the pipeline company’s stock.
ENB has been the subject of several other reports. Stifel Nicolaus upped their price objective on Enbridge from $60.00 to $61.00 and gave the stock a buy rating in a research report on Friday, May 8th. Tudor Pickering reiterated a buy rating and issued a $50.00 target price on shares of Enbridge in a research report on Tuesday, July 28th. Wells Fargo & Co downgraded Enbridge from an overweight rating to an equal weight rating and set a $51.00 target price for the company. in a research report on Wednesday, July 22nd. CIBC increased their target price on Enbridge from $47.00 to $48.00 and gave the company an outperform rating in a research report on Thursday. Finally, JPMorgan Chase & Co. upgraded Enbridge from a neutral rating to an overweight rating and set a $56.00 target price for the company in a research report on Wednesday, April 8th. One analyst has rated the stock with a sell rating, four have given a hold rating and fifteen have given a buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus price target of $51.59.
Shares of ENB stock traded down $0.20 on Thursday, hitting $32.00. 2,646,005 shares of the company’s stock were exchanged, compared to its average volume of 2,689,048. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.61 and a quick ratio of 0.53. Enbridge has a 12 month low of $22.57 and a 12 month high of $43.15. The stock has a market cap of $64.81 billion, a P/E ratio of 45.71, a price-to-earnings-growth ratio of 1.71 and a beta of 0.83. The company has a 50 day moving average of $30.73 and a 200 day moving average of $33.26.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Friday, August 14th will be issued a $0.6021 dividend. This represents a $2.41 dividend on an annualized basis and a dividend yield of 7.53%. This is a positive change from Enbridge’s previous quarterly dividend of $0.57. The ex-dividend date of this dividend is Thursday, August 13th. Enbridge’s dividend payout ratio (DPR) is presently 115.00%.
Several institutional investors and hedge funds have recently made changes to their positions in ENB. Johnson Financial Group Inc. grew its stake in shares of Enbridge by 112.3% in the first quarter. Johnson Financial Group Inc. now owns 930 shares of the pipeline company’s stock worth $27,000 after acquiring an additional 492 shares during the last quarter. TCI Wealth Advisors Inc. lifted its stake in Enbridge by 116.1% in the 2nd quarter. TCI Wealth Advisors Inc. now owns 1,031 shares of the pipeline company’s stock valued at $31,000 after acquiring an additional 554 shares in the last quarter. MBE Wealth Management LLC acquired a new position in shares of Enbridge during the 1st quarter worth approximately $33,000. Creative Financial Designs Inc. ADV increased its position in shares of Enbridge by 782.6% during the 2nd quarter. Creative Financial Designs Inc. ADV now owns 1,165 shares of the pipeline company’s stock worth $35,000 after purchasing an additional 1,033 shares during the last quarter. Finally, Allworth Financial LP increased its position in shares of Enbridge by 33.9% during the 1st quarter. Allworth Financial LP now owns 1,409 shares of the pipeline company’s stock worth $41,000 after purchasing an additional 357 shares during the last quarter. Institutional investors and hedge funds own 54.64% of the company’s stock.
Enbridge Inc operates as an energy infrastructure company in Canada and the United States. The company operates through five segments: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution, Green Power and Transmission, and Energy Services. The Liquids Pipelines segment operates common carrier and contract crude oil, natural gas liquids (NGL), and refined products pipelines and terminals.
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