Enbridge Inc. (TSE:ENB) to Issue $0.92 Quarterly Dividend

by · The Markets Daily

Enbridge Inc. (TSE:ENB – Get Free Report) (NYSE:ENB) announced a quarterly dividend on Wednesday, October 30th, RTT News reports. Shareholders of record on Friday, November 15th will be given a dividend of 0.915 per share on Sunday, December 1st. This represents a $3.66 annualized dividend and a yield of 6.52%.

Enbridge Stock Down 0.2 %

Shares of Enbridge stock traded down C$0.12 on Wednesday, hitting C$56.13. 99,124 shares of the company’s stock traded hands, compared to its average volume of 7,960,251. Enbridge has a 52-week low of C$43.94 and a 52-week high of C$58.28. The company has a quick ratio of 0.44, a current ratio of 0.76 and a debt-to-equity ratio of 131.26. The stock has a market cap of C$122.36 billion, a P/E ratio of 21.63, a PEG ratio of 1.72 and a beta of 0.90. The firm’s 50-day moving average is C$55.29 and its 200 day moving average is C$51.65.

Enbridge (TSE:ENB – Get Free Report) (NYSE:ENB) last posted its quarterly earnings data on Friday, August 2nd. The company reported C$0.58 EPS for the quarter, missing analysts’ consensus estimates of C$0.62 by C($0.04). The company had revenue of C$11.34 billion for the quarter, compared to the consensus estimate of C$5.86 billion. Enbridge had a net margin of 13.54% and a return on equity of 8.57%. Equities analysts anticipate that Enbridge will post 3.511912 earnings per share for the current year.

Analysts Set New Price Targets

ENB has been the subject of a number of research reports. JPMorgan Chase & Co. lifted their price target on Enbridge from C$57.00 to C$60.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. BMO Capital Markets lifted their target price on Enbridge from C$54.00 to C$56.00 in a research report on Thursday, September 5th. National Bankshares upped their price target on Enbridge from C$53.00 to C$57.00 and gave the company a “sector perform” rating in a research report on Friday, August 23rd. Raymond James lifted their price objective on shares of Enbridge from C$54.00 to C$59.00 in a report on Tuesday, October 22nd. Finally, Jefferies Financial Group cut shares of Enbridge from a “buy” rating to a “hold” rating and increased their target price for the stock from C$55.00 to C$58.00 in a report on Monday, September 30th. Seven research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Enbridge presently has an average rating of “Hold” and a consensus price target of C$56.31.

Read Our Latest Stock Analysis on Enbridge

Insider Activity at Enbridge

In other Enbridge news, Senior Officer Maximilian Chan sold 688 shares of the company’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of C$55.20, for a total value of C$37,977.60. In other Enbridge news, Senior Officer Maximilian Chan sold 688 shares of the business’s stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of C$55.20, for a total transaction of C$37,977.60. Also, Director Steven Walter Williams purchased 18,600 shares of the stock in a transaction dated Tuesday, August 13th. The shares were acquired at an average cost of C$53.74 per share, for a total transaction of C$999,564.00. 0.10% of the stock is currently owned by insiders.

About Enbridge

(Get Free Report)

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.

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