Enbridge Inc. (NYSE:ENB) and Spectra Energy Merger Expected to Close
- Author: Zachary Reyes Feb 28, 2017,
Feb 28, 2017, 7:40
Analysts mean target price for Enbridge Inc.
Looking forward, the company is expected to report earnings of $0.62 per share for the current quarter. TD Securities reissued a "buy" rating and set a C$62.00 price target on shares of Enbridge in a research note on Friday, November 4th. Current stock price is in the upbeat territory taking into account of 20 days moving average with -3.63% and continued bullish run for 50 days moving average with 3.19%.
Canada's Enbridge on Monday completed its acquisition of Houston-based Spectra Energy in a stock-for-stock merger transaction, which is expected to create one of the largest energy infrastructure companies in North America. Buy rating has been given by 2 analysts to the company stock whereas no analyst given UNDERPERFORM rating to stock and 2 analysts given HOLD rating. Enbridge has a 12-month low of $34.14 and a 12-month high of $45.77. Finally, Scotiabank restated an "outperform" rating and issued a $61.00 target price on shares of Enbridge in a research report on Sunday, November 6th. Citigroup Inc. restated a "neutral" rating on shares of Enbridge in a research report on Wednesday, January 18th. Company price to earnings (P/E) ratio, which measures the relationship between the earnings of a company and its stock price, is calculated as 26.59. Return on Equity (ROE) stands at 0% and Return on Investment (ROI) of 0 percent. Earnings per share were $0.43. The company had a trading volume of 4,886,735 shares.
Hedge funds have recently made changes to their positions in the company. Renaissance Technologies LLC raised its stake in shares of Enbridge by 103.6% in the fourth quarter. Raymond James Financial Services Advisors Inc. increased its stake in shares of Enbridge by 0.3% in the fourth quarter. This is an increase from Enbridge's previous quarterly dividend of $0.40.
When calculating EPS estimates for the current year from sell-side analysts, the Price to current year EPS stands at 10.50%. The firm has a market capitalization of $39.53 billion, a price-to-earnings ratio of 28.45 and a beta of 0.62. Finally, Teacher Retirement System of Texas raised its position in Enbridge Energy Management by 25.0% in the second quarter. If you are reading this story on another publication, it was illegally copied and reposted in violation of worldwide trademark and copyright law.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 14th. Investors of record on Wednesday, February 15th will be given a $0.583 dividend. The ex-dividend date of this dividend was Friday, February 3rd. The correct version of this news story can be accessed at https://baseballnewssource.com/markets/enbridge-inc-enb-downgraded-by-zacks-investment-research/466388.html. Raymond James Financial Services Advisors Inc. now owns 87,262 shares of the company's stock valued at $3,667,000 after buying an additional 252 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 360,832 shares of the company's stock worth $15,831,000 after buying an additional 20,516 shares in the last quarter. Capstone Asset Management Co. now owns 77,020 shares of the company's stock worth $3,407,000 after buying an additional 630 shares in the last quarter. This represents a $2.33 annualized dividend and a dividend yield of 12.89%. Enbridge's dividend payout ratio is 119.33%.
Enbridge Inc (Enbridge) is an energy transportation and distribution company.
Enbridge Energy Partners, L.P.is a limited partnership that owns and operates crude oil and liquid petroleum transportation and storage assets, and natural gas gathering, treating, processing, transportation and marketing assets in the United States. The Company operates through five segments: Liquids Pipelines; Gas Distribution; Gas Pipelines, Processing and Energy Services; Sponsored Investments, and Corporate.