Enbridge Inc. (TSE:ENB) Stock to Pay Quarterly Dividend of $0.97

Enbridge Inc. (TSE:ENB) (NYSE:ENB) announced a quarterly dividend on Friday, November 13th. Stockholders of record on Tuesday, December 1st will be paid a dividend of $0.97 per share on Tuesday, December 1st. This represents a $3.88 dividend on an annualized basis and a dividend yield of 5.7%. The ex-dividend date of this dividend is Friday, November 13th.

Enbridge Price Performance

TSE:ENB traded up C$0.16 during mid-day trading on Wednesday, reaching C$67.88. The stock had a trading volume of 2,373,213 shares, compared to its average volume of 8,608,622. Enbridge has a 12 month low of C$62.42 and a 12 month high of C$80.65. The stock has a market capitalization of C$151.29 billion, a PE ratio of 26.21, a P/E/G ratio of 1.72 and a beta of 0.74. The company has a debt-to-equity ratio of 171.59, a current ratio of 0.72 and a quick ratio of 0.44. The stock has a 50-day simple moving average of C$67.45 and a two-hundred day simple moving average of C$72.50.

Enbridge (TSE:ENB) (NYSE:ENB) last issued its earnings results on Friday, November 6th. The company reported C$0.49 earnings per share for the quarter. Enbridge had a return on equity of 10.43% and a net margin of 7.54%. The firm had revenue of C$21.08 billion for the quarter. On average, equities analysts anticipate that Enbridge will post 3.51 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Raymond James Financial boosted their target price on Enbridge from C$79.00 to C$80.00 and gave the stock a “market perform” rating in a research note on Tuesday, September 15th. Canadian Imperial Bank of Commerce raised Enbridge from a “hold” rating to an “outperformer” rating and raised their target price for the stock from C$77.00 to C$78.00 in a research note on Friday, August 28th. ATB Cormark Capital Markets raised their price target on shares of Enbridge from C$83.00 to C$84.00 and gave the company an “outperform” rating in a research report on Tuesday, September 15th. TD raised Enbridge from a “hold” rating to a “buy” rating and reduced their target price for the company from C$82.00 to C$81.00 in a report on Tuesday, September 15th. Finally, TD Securities raised Enbridge from a “hold” rating to a “strong-buy” rating in a report on Monday, September 14th. Two investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, Enbridge has an average rating of “Moderate Buy” and an average target price of C$77.62.

Enbridge Company Profile

At Enbridge, we safely connect millions of people to the energy they rely on every day, fueling quality of life through our North American natural gas, oil and renewable power networks and our growing European offshore wind portfolio. We’re investing in modern energy delivery infrastructure to sustain access to secure, affordable energy and building on more than a century of operating conventional energy infrastructure and two decades of experience in renewable power. We’re advancing new technologies including hydrogen, renewable natural gas, and carbon capture and storage.