Enbridge (TSE:ENB) Lowered to “Hold” at Scotiabank

Scotiabank cut shares of Enbridge (TSE:ENB) (NYSE:ENB) from a strong-buy rating to a hold rating in a research report sent to investors on Friday, Zacks.com reports.

A number of other brokerages have also recently issued reports on ENB. Barclays dropped their target price on Enbridge from C$53.00 to C$51.00 in a report on Thursday, March 7th. Wells Fargo & Company increased their price objective on Enbridge from C$45.00 to C$48.00 in a research note on Tuesday, June 4th. Jefferies Financial Group boosted their target price on shares of Enbridge from C$53.00 to C$55.00 in a research note on Monday, May 13th. BMO Capital Markets upped their target price on shares of Enbridge from C$52.00 to C$54.00 and gave the stock a market perform rating in a report on Monday, May 13th. Finally, National Bankshares lifted their price target on shares of Enbridge from C$52.00 to C$53.00 and gave the company a sector perform rating in a report on Monday, May 13th. Seven analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, Enbridge presently has an average rating of Hold and an average price target of C$53.44.

Enbridge Trading Down 0.9 %

Shares of ENB stock opened at C$47.83 on Friday. The firm has a fifty day moving average of C$49.10 and a 200-day moving average of C$48.27. The stock has a market cap of C$101.88 billion, a price-to-earnings ratio of 18.12, a P/E/G ratio of 0.75 and a beta of 0.88. Enbridge has a 52-week low of C$42.75 and a 52-week high of C$52.34. The company has a debt-to-equity ratio of 130.31, a quick ratio of 0.44 and a current ratio of 0.68.

Enbridge (TSE:ENB) (NYSE:ENB) last posted its earnings results on Friday, May 10th. The company reported C$0.92 earnings per share for the quarter, beating analysts’ consensus estimates of C$0.81 by C$0.11. The business had revenue of C$11.04 billion for the quarter, compared to analysts’ expectations of C$12.24 billion. Enbridge had a net margin of 13.81% and a return on equity of 8.70%. On average, equities research analysts forecast that Enbridge will post 2.8613689 earnings per share for the current fiscal year.

Enbridge Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Saturday, June 1st. Investors of record on Wednesday, May 15th were paid a dividend of $0.915 per share. This represents a $3.66 annualized dividend and a yield of 7.65%. The ex-dividend date of this dividend was Tuesday, May 14th. Enbridge’s payout ratio is presently 138.64%.

About Enbridge

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.