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

Enbridge Inc. (TSE:ENB) (NYSE:ENB) announced a quarterly dividend on Tuesday, July 30th, RTT News reports. Stockholders of record on Thursday, August 15th will be given a dividend of 0.915 per share on Sunday, September 1st. This represents a $3.66 dividend on an annualized basis and a dividend yield of 7.08%. The ex-dividend date of this dividend is Thursday, August 15th.

Enbridge Price Performance

Shares of TSE:ENB opened at C$51.67 on Thursday. Enbridge has a one year low of C$42.75 and a one year high of C$52.34. The company has a debt-to-equity ratio of 130.31, a current ratio of 0.68 and a quick ratio of 0.44. The company has a market cap of C$110.06 billion, a price-to-earnings ratio of 19.57, a PEG ratio of 0.75 and a beta of 0.88. The firm has a 50 day simple moving average of C$49.14 and a 200 day simple moving average of C$48.52.

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

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on ENB. Scotiabank downgraded shares of Enbridge from a “strong-buy” rating to a “hold” rating in a research note on Friday, June 14th. Wells Fargo & Company lifted their price objective on Enbridge from C$45.00 to C$48.00 in a research report on Tuesday, June 4th. CIBC upped their target price on Enbridge from C$57.00 to C$59.00 in a research report on Monday, July 15th. Stifel Nicolaus decreased their target price on Enbridge from C$52.00 to C$51.00 and set a “hold” rating for the company in a research note on Thursday, April 25th. Finally, National Bankshares boosted their price target on Enbridge from C$52.00 to C$53.00 and gave the company a “sector perform” rating in a research note on Monday, May 13th. Seven analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Enbridge currently has a consensus rating of “Hold” and a consensus target price of C$53.63.

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.