Enbridge (TSE:ENB) Price Target Raised to C$67.00

Enbridge (TSE:ENB) (NYSE:ENB) had its price objective upped by Raymond James from C$65.00 to C$67.00 in a research note released on Tuesday,BayStreet.CA reports.

A number of other equities analysts also recently commented on the company. Royal Bank of Canada increased their price objective on Enbridge from C$63.00 to C$67.00 in a report on Tuesday. Jefferies Financial Group lifted their price objective on shares of Enbridge from C$59.00 to C$65.00 in a research note on Thursday, January 30th. TD Securities set a C$66.00 price objective on shares of Enbridge and gave the stock a “buy” rating in a report on Wednesday, January 15th. CIBC raised their target price on Enbridge from C$63.00 to C$66.00 and gave the company an “outperform” rating in a report on Thursday, January 9th. Finally, Barclays upped their price target on Enbridge from C$59.00 to C$64.00 in a research note on Monday, January 6th. Seven equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, Enbridge presently has a consensus rating of “Hold” and a consensus target price of C$63.23.

Enbridge Stock Performance

Shares of TSE ENB opened at C$59.46 on Tuesday. The company has a debt-to-equity ratio of 144.86, a current ratio of 0.62 and a quick ratio of 0.44. Enbridge has a one year low of C$45.39 and a one year high of C$65.62. The business’s 50-day moving average price is C$62.19 and its two-hundred day moving average price is C$58.38. The company has a market capitalization of C$128.86 billion, a P/E ratio of 19.33, a price-to-earnings-growth ratio of 1.72 and a beta of 0.90.

Enbridge Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Saturday, March 1st will be given a dividend of $0.9425 per share. This represents a $3.77 annualized dividend and a dividend yield of 6.34%. The ex-dividend date of this dividend is Friday, February 14th. This is a boost from Enbridge’s previous quarterly dividend of $0.92. Enbridge’s payout ratio is currently 118.98%.

Insider Activity at Enbridge

In related news, Senior Officer Cynthia Lynn Hansen sold 1,106 shares of the company’s 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. 0.10% of the stock is owned by corporate insiders.

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.