Brokerages Set Enbridge Inc. (TSE:ENB) Price Target at C$53.44

Shares of Enbridge Inc. (TSE:ENB) (NYSE:ENB) have earned a consensus rating of “Hold” from the thirteen research firms that are currently covering the stock, MarketBeat Ratings reports. Seven research analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is C$53.44.

ENB has been the subject of several recent analyst reports. Jefferies Financial Group lifted their target price on shares of Enbridge from C$53.00 to C$55.00 in a report on Monday, May 13th. Scotiabank cut shares of Enbridge from a “strong-buy” rating to a “hold” rating in a report on Friday, June 14th. National Bankshares lifted their target price on shares of Enbridge from C$52.00 to C$53.00 and gave the stock a “sector perform” rating in a report on Monday, May 13th. Stifel Nicolaus decreased their price objective on shares of Enbridge from C$52.00 to C$51.00 and set a “hold” rating for the company in a report on Thursday, April 25th. Finally, BMO Capital Markets boosted their price objective on shares of Enbridge from C$52.00 to C$54.00 and gave the company a “market perform” rating in a report on Monday, May 13th.

Enbridge Trading Up 1.0 %

Shares of TSE ENB opened at C$48.70 on Friday. Enbridge has a 1 year low of C$42.75 and a 1 year high of C$52.34. The stock has a market cap of C$103.73 billion, a P/E ratio of 18.45, a price-to-earnings-growth ratio of 0.75 and a beta of 0.88. The firm has a 50-day moving average of C$49.24 and a 200 day moving average of C$48.36. The company has a debt-to-equity ratio of 130.31, a current ratio of 0.68 and a quick ratio of 0.44.

Enbridge (TSE:ENB) (NYSE:ENB) last issued its quarterly earnings results on Friday, May 10th. The company reported C$0.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$0.81 by C$0.11. Enbridge had a net margin of 13.81% and a return on equity of 8.70%. The company had revenue of C$11.04 billion during the quarter, compared to analysts’ expectations of C$12.24 billion. As a group, sell-side analysts expect that Enbridge will post 2.8613689 EPS for the current fiscal year.

Enbridge Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Saturday, June 1st. Investors of record on Wednesday, May 15th were paid a dividend of $0.915 per share. This represents a $3.66 dividend on an annualized basis and a yield of 7.52%. The ex-dividend date was Tuesday, May 14th. Enbridge’s payout ratio is 138.64%.

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.