Enbridge (TSE:ENB) Sets New 12-Month High – Here’s What Happened

Enbridge Inc. (TSE:ENB) (NYSE:ENB)’s stock price hit a new 52-week high during trading on Tuesday . The company traded as high as C$64.68 and last traded at C$64.57, with a volume of 200917 shares changing hands. The stock had previously closed at C$63.93.

Analysts Set New Price Targets

Several research firms have recently commented on ENB. Barclays boosted their price target on shares of Enbridge from C$59.00 to C$64.00 in a report on Monday, January 6th. Royal Bank of Canada boosted their target price on shares of Enbridge from C$59.00 to C$63.00 in a research report on Wednesday, December 4th. BMO Capital Markets lifted their target price on Enbridge from C$59.00 to C$60.00 in a report on Wednesday, December 4th. Wells Fargo & Company upped their price target on shares of Enbridge from C$57.00 to C$60.00 in a report on Thursday, December 5th. Finally, Scotiabank lifted their target price on shares of Enbridge from C$57.00 to C$61.00 in a report on Wednesday, December 4th. Seven equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of C$61.69.

Enbridge Stock Up 2.4 %

The firm has a market cap of C$142.77 billion, a PE ratio of 25.19, a P/E/G ratio of 1.72 and a beta of 0.90. The company has a debt-to-equity ratio of 131.26, a current ratio of 0.76 and a quick ratio of 0.44. The business has a fifty day moving average price of C$60.84 and a two-hundred day moving average price of C$56.25.

Enbridge Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Friday, February 14th will be issued a $0.9425 dividend. This is a positive change from Enbridge’s previous quarterly dividend of $0.92. This represents a $3.77 annualized dividend and a dividend yield of 5.76%. Enbridge’s dividend payout ratio is presently 140.77%.

Insider Buying and Selling at Enbridge

In related news, Senior Officer Cynthia Lynn Hansen sold 1,106 shares of the stock in a transaction on Monday, December 23rd. The shares were sold at an average price of C$59.94, for a total transaction of C$66,293.64. Insiders own 0.10% of the company’s stock.

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.