Enbridge Inc. (ENB) to Issue Quarterly Dividend of $0.67 on March 1st

Enbridge Inc. (NYSE:ENB) (TSE:ENB) declared a quarterly dividend on Thursday, December 5th,Wall Street Journal reports. Stockholders of record on Saturday, February 15th will be paid a dividend of 0.67 per share by the pipeline company on Saturday, March 1st. This represents a $2.68 annualized dividend and a dividend yield of 5.92%. The ex-dividend date is Friday, February 14th.

Enbridge has raised its dividend by an average of 2.9% per year over the last three years. Enbridge has a dividend payout ratio of 115.9% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Enbridge to earn $2.17 per share next year, which means the company may not be able to cover its $2.63 annual dividend with an expected future payout ratio of 121.2%.

Enbridge Trading Up 1.1 %

NYSE:ENB opened at $45.29 on Wednesday. Enbridge has a 12-month low of $32.85 and a 12-month high of $45.78. The firm has a market capitalization of $98.65 billion, a P/E ratio of 20.97, a P/E/G ratio of 4.08 and a beta of 0.94. The company has a debt-to-equity ratio of 1.41, a current ratio of 0.62 and a quick ratio of 0.54. The business has a 50 day simple moving average of $43.23 and a 200 day simple moving average of $41.54.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. TD Securities assumed coverage on Enbridge in a research report on Wednesday, January 15th. They set a “buy” rating for the company. Morgan Stanley initiated coverage on Enbridge in a research note on Friday, October 25th. They set an “equal weight” rating on the stock. Royal Bank of Canada reaffirmed 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, December 4th. Finally, Wells Fargo & Company raised Enbridge from an “underweight” rating to an “equal weight” rating in a research note on Wednesday, November 6th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, Enbridge has a consensus rating of “Hold” and an average price target of $63.00.

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.