Enbridge Inc. (ENB) Trading 3% Higher
Enbridge Inc. (NYSE:ENB) traded up 3% during trading on Friday . The company traded as high as $40.83 and last traded at $40.75, with a volume of 829,169 shares traded. The stock had previously closed at $39.57.
A number of equities research analysts have recently commented on the stock. Scotiabank reaffirmed an “outperform” rating and set a $61.00 price objective on shares of Enbridge in a research note on Wednesday, August 3rd. Zacks Investment Research cut shares of Enbridge from a “buy” rating to a “hold” rating in a research note on Wednesday, July 13th. TD Securities reaffirmed a “buy” rating and set a $59.00 price objective (up previously from $58.00) on shares of Enbridge in a research note on Wednesday, August 3rd. FirstEnergy Capital cut shares of Enbridge from an “outperform” rating to a “market perform” rating and raised their price objective for the stock from $23.00 to $55.00 in a research note on Friday, May 20th. Finally, National Bank Financial cut shares of Enbridge from an “outperform” rating to a “sector perform” rating in a research note on Monday, July 18th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $56.00.
The firm’s 50-day moving average price is $40.81 and its 200 day moving average price is $39.78. The stock has a market cap of $38.29 billion and a P/E ratio of 36.57.
Enbridge (NYSE:ENB) last issued its quarterly earnings data on Friday, July 29th. The company reported $0.50 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.53 by $0.03. During the same quarter in the prior year, the firm posted $0.60 earnings per share. Equities research analysts forecast that Enbridge Inc. will post $1.77 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, September 1st. Stockholders of record on Monday, August 15th were paid a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a dividend yield of 4.00%. The ex-dividend date of this dividend was Thursday, August 11th.
Enbridge Inc (Enbridge) is an energy transportation and distribution company. The Company operates through five segments: Liquids Pipelines; Gas Distribution; Gas Pipelines, Processing and Energy Services; Sponsored Investments, and Corporate. The Company operates the crude oil and liquids transportation system in Canada and the United States.
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