Enbridge Inc. (NYSE:ENB – Get Free Report) (TSE:ENB) announced a quarterly dividend on Wednesday, November 29th, Zacks reports. Shareholders of record on Thursday, February 15th will be given a dividend of 0.659 per share by the pipeline company on Friday, March 1st. This represents a $2.64 dividend on an annualized basis and a yield of 7.70%. The ex-dividend date of this dividend is Wednesday, February 14th. This is a boost from Enbridge’s previous quarterly dividend of $0.64.
Enbridge has raised its dividend by an average of 2.9% annually over the last three years and has raised its dividend every year for the last 1 years. Enbridge has a dividend payout ratio of 117.3% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Enbridge to earn $2.25 per share next year, which means the company may not be able to cover its $2.65 annual dividend with an expected future payout ratio of 117.8%.
Enbridge Stock Performance
ENB stock opened at $34.23 on Monday. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.57 and a current ratio of 0.67. The stock has a market capitalization of $72.76 billion, a price-to-earnings ratio of 16.30, a PEG ratio of 3.19 and a beta of 0.85. Enbridge has a 1 year low of $31.03 and a 1 year high of $40.92. The stock’s fifty day moving average is $35.75 and its two-hundred day moving average is $34.62.
Analyst Upgrades and Downgrades
Institutional Investors Weigh In On Enbridge
Hedge funds and other institutional investors have recently bought and sold shares of the business. Moneta Group Investment Advisors LLC increased its stake in Enbridge by 109,143.5% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 48,468,082 shares of the pipeline company’s stock worth $1,895,102,000 after purchasing an additional 48,423,715 shares in the last quarter. Norges Bank purchased a new position in Enbridge in the 4th quarter worth about $723,255,000. Vanguard Group Inc. increased its stake in Enbridge by 3.7% in the 1st quarter. Vanguard Group Inc. now owns 69,181,872 shares of the pipeline company’s stock worth $3,188,593,000 after purchasing an additional 2,491,924 shares in the last quarter. 1832 Asset Management L.P. increased its stake in Enbridge by 9.8% in the 4th quarter. 1832 Asset Management L.P. now owns 24,403,123 shares of the pipeline company’s stock worth $954,162,000 after purchasing an additional 2,179,892 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its stake in Enbridge by 99.7% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 2,944,604 shares of the pipeline company’s stock worth $124,429,000 after purchasing an additional 1,469,957 shares in the last quarter. 48.29% of the stock is currently owned by institutional investors.
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.
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