Enbridge (TSE:ENB) Price Target Raised to C$59.00

Enbridge (TSE:ENB) (NYSE:ENB) had its price objective upped by Royal Bank of Canada from C$55.00 to C$59.00 in a research note issued to investors on Thursday morning, BayStreet.CA reports. The brokerage currently has an outperform rating on the stock.

Several other analysts have also commented on ENB. JPMorgan Chase & Co. increased their target price on shares of Enbridge from C$57.00 to C$60.00 and gave the company a buy rating in a research note on Thursday. National Bankshares upped their price target on shares of Enbridge from C$53.00 to C$57.00 and gave the company a sector perform rating in a research report on Friday, August 23rd. CIBC upped their price target on shares of Enbridge from C$57.00 to C$59.00 in a research report on Monday, July 15th. Jefferies Financial Group downgraded shares of Enbridge from a buy rating to a hold rating and upped their price target for the company from C$55.00 to C$58.00 in a research report on Monday, September 30th. Finally, BMO Capital Markets upped their price target on shares of Enbridge from C$54.00 to C$56.00 in a research report on Thursday, September 5th. Six equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Enbridge presently has a consensus rating of Hold and an average target price of C$55.25.

Enbridge Stock Up 0.9 %

ENB stock opened at C$55.76 on Thursday. Enbridge has a 12 month low of C$42.87 and a 12 month high of C$56.09. The firm has a market cap of C$121.56 billion, a PE ratio of 21.45, a P/E/G ratio of 0.75 and a beta of 0.90. The firm has a 50 day simple moving average of C$54.05 and a 200 day simple moving average of C$50.73. The company has a debt-to-equity ratio of 131.26, a current ratio of 0.76 and a quick ratio of 0.44.

Enbridge (TSE:ENB) (NYSE:ENB) last released its earnings results on Friday, August 2nd. The company reported C$0.58 EPS for the quarter, missing the consensus estimate of C$0.62 by C($0.04). Enbridge had a net margin of 13.54% and a return on equity of 8.57%. The business had revenue of C$11.34 billion for the quarter, compared to analyst estimates of C$5.86 billion. Equities research analysts forecast that Enbridge will post 3.0366521 earnings per share for the current fiscal year.

Enbridge Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Thursday, August 15th were paid a $0.915 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $3.66 annualized dividend and a yield of 6.56%. Enbridge’s dividend payout ratio is presently 140.77%.

Insider Buying and Selling at Enbridge

In other Enbridge news, Senior Officer Maximilian Chan sold 688 shares of the company’s stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of C$55.20, for a total value of C$37,977.60. In other Enbridge news, Director Steven Walter Williams purchased 18,600 shares of the company’s stock in a transaction dated Tuesday, August 13th. The shares were bought at an average price of C$53.74 per share, for a total transaction of C$999,564.00. Also, Senior Officer Maximilian Chan sold 688 shares of the stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of C$55.20, for a total transaction of C$37,977.60. Company insiders own 0.10% of the company’s stock.

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.