Enbridge Inc. (NYSE:ENB) Announces $0.67 Quarterly Dividend

Enbridge Inc. (NYSE:ENB) (TSE:ENB) declared a quarterly dividend on Thursday, December 5th,Wall Street Journal reports. Shareholders of record on Saturday, February 15th will be given a dividend of 0.67 per share by the pipeline company on Saturday, March 1st. This represents a $2.68 dividend on an annualized basis and a yield of 6.10%. The ex-dividend date is Friday, February 14th.

Enbridge has raised its dividend payment by an average of 3.6% annually over the last three years. Enbridge has a dividend payout ratio of 120.4% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Enbridge to earn $2.16 per share next year, which means the company may not be able to cover its $2.60 annual dividend with an expected future payout ratio of 120.4%.

Enbridge Stock Performance

Shares of ENB traded up $0.31 during mid-day trading on Thursday, reaching $43.95. 306,803 shares of the company’s stock traded hands, compared to its average volume of 4,849,374. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.54 and a current ratio of 0.62. The business’s 50-day moving average price is $41.78 and its 200-day moving average price is $39.01. The stock has a market capitalization of $95.73 billion, a P/E ratio of 20.21, a price-to-earnings-growth ratio of 4.27 and a beta of 0.94. Enbridge has a 12 month low of $32.85 and a 12 month high of $44.02.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its earnings results on Friday, November 1st. The pipeline company reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.15. Enbridge had a return on equity of 9.94% and a net margin of 13.54%. The firm had revenue of $10.91 billion for the quarter, compared to the consensus estimate of $4.54 billion. During the same quarter in the previous year, the business earned $0.46 EPS. Equities analysts predict that Enbridge will post 2.04 earnings per share for the current year.

Wall Street Analysts Forecast Growth

ENB has been the topic of several research analyst reports. Royal Bank of Canada reissued an “outperform” rating and set a $63.00 target price (up previously from $59.00) on shares of Enbridge in a research note on Wednesday. Wells Fargo & Company upgraded shares of Enbridge from an “underweight” rating to an “equal weight” rating in a research note on Wednesday, November 6th. Jefferies Financial Group downgraded Enbridge from a “buy” rating to a “hold” rating in a research report on Monday, September 30th. Finally, Morgan Stanley started coverage on Enbridge in a research report on Friday, October 25th. They set an “equal weight” rating on the stock. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average 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.