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

Enbridge Inc. (NYSE:ENB) (TSE:ENB) declared a quarterly dividend on Wednesday, October 30th,Zacks Dividends 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 yield of 6.36%. The ex-dividend date of this dividend is Friday, November 15th. This is an increase from Enbridge’s previous quarterly dividend of $0.67.

Enbridge has raised its dividend payment by an average of 3.6% annually over the last three years. Enbridge has a payout ratio of 121.2% 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 $2.14 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 122.9%.

Enbridge Trading Up 0.8 %

ENB opened at $42.51 on Thursday. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.54 and a current ratio of 0.62. Enbridge has a one year low of $32.76 and a one year high of $43.00. The company has a market cap of $92.56 billion, a P/E ratio of 19.68, a PEG ratio of 4.10 and a beta of 0.93. The business’s 50-day simple moving average is $41.01 and its 200-day simple moving average is $38.32.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its earnings results on Friday, November 1st. The pipeline company reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.15. Enbridge had a net margin of 13.54% and a return on equity of 9.94%. The business had revenue of $10.91 billion during the quarter, compared to analysts’ expectations of $4.54 billion. During the same quarter in the prior year, the business posted $0.46 EPS. As a group, equities research analysts expect that Enbridge will post 2.06 EPS for the current fiscal year.

Wall Street Analyst Weigh In

ENB has been the topic of a number of research analyst reports. Wells Fargo & Company upgraded Enbridge from an “underweight” rating to an “equal weight” rating in a research report on Wednesday, November 6th. Jefferies Financial Group downgraded Enbridge from a “buy” rating to a “hold” rating in a research note on Monday, September 30th. Finally, Morgan Stanley started coverage on Enbridge in a report on Friday, October 25th. They set an “equal weight” rating for the company.

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.