Enbridge Inc. to Issue Quarterly Dividend of $0.67 (NYSE:ENB)

Enbridge Inc. (NYSE:ENB) (TSE:ENB) announced a quarterly dividend on Tuesday, July 30th, Zacks reports. Shareholders of record on Thursday, August 15th will be paid a dividend of 0.669 per share by the pipeline company on Sunday, September 1st. This represents a $2.68 annualized dividend and a dividend yield of 7.14%. The ex-dividend date of this dividend is Thursday, August 15th.

Enbridge has increased its dividend by an average of 3.6% annually over the last three years. Enbridge has a dividend payout ratio of 118.0% 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 $2.23 per share next year, which means the company may not be able to cover its $2.69 annual dividend with an expected future payout ratio of 120.6%.

Enbridge Stock Performance

Shares of ENB stock opened at $37.50 on Wednesday. Enbridge has a 12-month low of $31.03 and a 12-month high of $38.37. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.68 and a quick ratio of 0.59. The firm has a market capitalization of $81.65 billion, a price-to-earnings ratio of 18.89, a price-to-earnings-growth ratio of 3.46 and a beta of 0.92. The business has a 50 day simple moving average of $35.83 and a 200 day simple moving average of $35.62.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings results on Friday, May 10th. The pipeline company reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.09. Enbridge had a return on equity of 10.53% and a net margin of 13.59%. The company had revenue of $8.19 billion during the quarter, compared to analysts’ expectations of $9 billion. On average, equities research analysts anticipate that Enbridge will post 2.12 EPS for the current year.

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.