Enbridge (TSE:ENB) Reaches New 52-Week High – What’s Next?

Enbridge Inc. (TSE:ENB) (NYSE:ENB) shares reached a new 52-week high on Monday . The stock traded as high as C$58.28 and last traded at C$57.44, with a volume of 1016874 shares traded. The stock had previously closed at C$57.97.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on ENB shares. National Bankshares lifted 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 report on Friday, August 23rd. CIBC boosted their target price on Enbridge from C$57.00 to C$59.00 in a report on Monday, July 15th. Royal Bank of Canada raised their price target on Enbridge from C$55.00 to C$59.00 and gave the company an “outperform” rating in a report on Thursday, October 3rd. Jefferies Financial Group downgraded Enbridge from a “buy” rating to a “hold” rating and lifted their price objective for the company from C$55.00 to C$58.00 in a research report on Monday, September 30th. Finally, BMO Capital Markets raised their target price on Enbridge from C$54.00 to C$56.00 in a research note on Thursday, September 5th. Six equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of C$55.67.

Enbridge Price Performance

The company’s fifty day moving average is C$55.03 and its two-hundred day moving average is C$51.40. The company has a quick ratio of 0.44, a current ratio of 0.76 and a debt-to-equity ratio of 131.26. The firm has a market capitalization of C$124.28 billion, a price-to-earnings ratio of 21.93, a price-to-earnings-growth ratio of 1.72 and a beta of 0.90.

Enbridge (TSE:ENB) (NYSE:ENB) last posted its quarterly earnings results on Friday, August 2nd. The company reported C$0.58 earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.62 by C($0.04). The company had revenue of C$11.34 billion during the quarter, compared to the consensus estimate of C$5.86 billion. Enbridge had a return on equity of 8.57% and a net margin of 13.54%. Equities research analysts anticipate that Enbridge Inc. will post 3.511912 earnings per share for the current fiscal year.

Enbridge Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Thursday, August 15th were given a dividend of $0.915 per share. The ex-dividend date was Thursday, August 15th. This represents a $3.66 annualized dividend and a dividend yield of 6.42%. Enbridge’s payout ratio is currently 140.77%.

Insider Activity at Enbridge

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