Enbridge (NYSE:ENB) Upgraded by Raymond James Financial to “Moderate Buy” Rating

Raymond James Financial upgraded shares of Enbridge (NYSE:ENB) (TSE:ENB) to a moderate buy rating in a report released on Tuesday,Zacks.com reports.

A number of other equities research analysts have also recently commented on the stock. Royal Bank Of Canada lifted their price target on shares of Enbridge from $72.00 to $76.00 and gave the stock an “outperform” rating in a report on Tuesday. JPMorgan Chase & Co. cut Enbridge from an “overweight” rating to a “neutral” rating in a report on Tuesday, January 27th. Scotiabank reaffirmed an “outperform” rating on shares of Enbridge in a report on Tuesday. National Bank Financial reiterated a “sector perform” rating on shares of Enbridge in a research report on Monday, November 10th. Finally, Zacks Research raised Enbridge from a “strong sell” rating to a “hold” rating in a report on Monday, December 29th. Seven investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $65.00.

Enbridge Stock Performance

Shares of ENB opened at $51.46 on Tuesday. Enbridge has a one year low of $39.73 and a one year high of $54.19. The company has a market cap of $112.28 billion, a PE ratio of 22.37 and a beta of 0.69. The stock has a 50-day moving average of $48.15 and a 200-day moving average of $48.09. The company has a debt-to-equity ratio of 1.64, a current ratio of 0.80 and a quick ratio of 0.68.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its earnings results on Friday, February 13th. The pipeline company reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.60 by $0.03. Enbridge had a net margin of 11.30% and a return on equity of 11.01%. The company had revenue of $17.18 billion for the quarter, compared to analyst estimates of $9.10 billion. During the same quarter in the prior year, the business posted $0.75 EPS. On average, equities research analysts predict that Enbridge will post 2.14 EPS for the current fiscal year.

Enbridge Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Sunday, March 1st. Stockholders of record on Tuesday, February 17th will be paid a $0.97 dividend. This represents a $3.88 dividend on an annualized basis and a dividend yield of 7.5%. The ex-dividend date is Tuesday, February 17th. This is a boost from Enbridge’s previous quarterly dividend of $0.94. Enbridge’s dividend payout ratio (DPR) is 116.96%.

Hedge Funds Weigh In On Enbridge

Institutional investors and hedge funds have recently made changes to their positions in the business. Brighton Jones LLC bought a new position in shares of Enbridge during the fourth quarter valued at $261,000. AQR Capital Management LLC raised its holdings in Enbridge by 68.5% in the 1st quarter. AQR Capital Management LLC now owns 28,533 shares of the pipeline company’s stock worth $1,264,000 after acquiring an additional 11,599 shares during the last quarter. DekaBank Deutsche Girozentrale boosted its stake in Enbridge by 1.2% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 434,873 shares of the pipeline company’s stock valued at $19,595,000 after purchasing an additional 5,044 shares during the last quarter. Legacy Wealth Asset Management LLC bought a new stake in shares of Enbridge in the 2nd quarter worth $643,000. Finally, FNY Investment Advisers LLC bought a new position in shares of Enbridge during the second quarter valued at $36,000. Institutional investors own 54.60% of the company’s stock.

About Enbridge

Enbridge Inc is a Calgary, Alberta–based energy infrastructure company that develops, owns and operates a diversified portfolio of energy transportation, distribution and generation assets. Its core activities include the operation of crude oil and liquids pipelines, natural gas transmission and distribution systems, and energy storage facilities. In addition to midstream transportation and storage, Enbridge has expanded into renewable power generation and energy transition projects, including wind, solar and utility-scale generation assets.

The company serves customers primarily in Canada and the United States and has interests in other international energy projects.