Enbridge (TSE:ENB) Hits New 12-Month High – Here’s Why

Enbridge Inc. (TSE:ENB) (NYSE:ENB) reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as C$60.14 and last traded at C$59.96, with a volume of 143775 shares traded. The stock had previously closed at C$59.53.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on ENB shares. CIBC increased their target price on shares of Enbridge from C$59.00 to C$67.00 in a research note on Monday, November 4th. National Bankshares raised their price objective on Enbridge from C$53.00 to C$57.00 and gave the stock a “sector perform” rating in a research report on Friday, August 23rd. JPMorgan Chase & Co. upped their target price on Enbridge from C$57.00 to C$60.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. Royal Bank of Canada lifted their price target on shares of Enbridge from C$55.00 to C$59.00 and gave the stock an “outperform” rating in a research note on Thursday, October 3rd. Finally, Morgan Stanley set a C$64.00 price objective on shares of Enbridge and gave the company an “equal weight” rating in a research note on Friday, October 25th. Eight analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Enbridge presently has a consensus rating of “Hold” and an average price target of C$57.54.

Enbridge Stock Up 1.0 %

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 fifty day simple moving average of C$56.25 and a 200-day simple moving average of C$52.45. The firm has a market cap of C$131.04 billion, a price-to-earnings ratio of 22.90, a P/E/G ratio of 1.72 and a beta of 0.90.

Enbridge Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Sunday, December 1st. Investors of record on Friday, November 15th will be issued a dividend of $0.915 per share. This represents a $3.66 annualized dividend and a dividend yield of 6.09%. The ex-dividend date of this dividend is Friday, November 15th. Enbridge’s payout ratio is 140.77%.

Insider Activity at Enbridge

In related news, Senior Officer Maximilian Chan sold 688 shares of Enbridge stock in a transaction that occurred 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. 0.10% of the stock is owned by company 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.