Enbridge Inc. (NYSE:ENB) to Issue Dividend Increase – $0.68 Per Share

Enbridge Inc. (NYSE:ENB) (TSE:ENB) declared a quarterly dividend on Wednesday, October 30th, Zacks reports. Investors of record on Friday, November 15th will be given a dividend of 0.676 per share by the pipeline company on Sunday, December 1st. This represents a $2.70 annualized dividend and a dividend yield of 6.69%. The ex-dividend date is Friday, November 15th. This is an increase from Enbridge’s previous quarterly dividend of $0.67.

Enbridge has raised its dividend by an average of 3.6% annually over the last three years. Enbridge has a payout ratio of 123.2% indicating that 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 $2.12 per share next year, which means the company may not be able to cover its $2.71 annual dividend with an expected future payout ratio of 127.8%.

Enbridge Stock Down 0.5 %

ENB opened at $40.40 on Friday. The company has a fifty day moving average of $40.72 and a two-hundred day moving average of $37.89. The stock has a market capitalization of $87.97 billion, a price-to-earnings ratio of 21.04, a PEG ratio of 3.93 and a beta of 0.93. Enbridge has a fifty-two week low of $31.68 and a fifty-two week high of $42.16. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.68 and a current ratio of 0.77.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its earnings results on Friday, August 2nd. The pipeline company reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.45 by $0.13. The firm had revenue of $8.29 billion for the quarter, compared to analyst estimates of $4.28 billion. Enbridge had a return on equity of 10.07% and a net margin of 13.31%. During the same quarter last year, the firm posted $0.51 EPS. On average, research analysts expect that Enbridge will post 2.07 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Morgan Stanley started coverage on shares of Enbridge in a research report on Friday, October 25th. They issued an “equal weight” rating on the stock. Jefferies Financial Group lowered Enbridge from a “buy” rating to a “hold” rating in a research note on Monday, September 30th.

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.