Enbridge (TSE:ENB) Sets New 12-Month High – Time to Buy?

Enbridge Inc. (TSE:ENB) (NYSE:ENB)’s stock price hit a new 52-week high on Thursday . The stock traded as high as C$58.98 and last traded at C$58.77, with a volume of 3342995 shares changing hands. The stock had previously closed at C$57.91.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. BMO Capital Markets increased their price objective on shares of Enbridge from C$54.00 to C$56.00 in a research note on Thursday, September 5th. JPMorgan Chase & Co. raised their price target on Enbridge from C$57.00 to C$60.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. Wells Fargo & Company upgraded Enbridge from a “strong sell” rating to a “hold” rating in a research report on Wednesday. Jefferies Financial Group cut Enbridge from a “buy” rating to a “hold” rating and increased their target price for the stock from C$55.00 to C$58.00 in a research report on Monday, September 30th. Finally, Royal Bank of Canada lifted their target price on Enbridge from C$55.00 to C$59.00 and gave the company an “outperform” rating in a research note on Thursday, October 3rd. Eight analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of C$56.92.

Enbridge Stock Up 1.6 %

The company has a debt-to-equity ratio of 131.26, a quick ratio of 0.44 and a current ratio of 0.76. The firm has a market capitalization of C$128.21 billion, a PE ratio of 22.64, a PEG ratio of 1.72 and a beta of 0.90. The company has a fifty day moving average price of C$55.70 and a 200-day moving average price of C$52.08.

Enbridge Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Sunday, December 1st. Investors of record on Sunday, December 1st will be paid a dividend of $0.915 per share. This represents a $3.66 dividend on an annualized basis and a yield of 6.22%. The ex-dividend date of this dividend is Friday, November 15th. Enbridge’s payout ratio is 140.77%.

Insiders Place Their Bets

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