Enbridge (TSE:ENB) PT Raised to C$59.00 at Royal Bank of Canada

Enbridge (TSE:ENB) (NYSE:ENB) had its price target boosted by Royal Bank of Canada from C$55.00 to C$59.00 in a research report released on Thursday morning, BayStreet.CA reports. The brokerage currently has an outperform rating on the stock.

A number of other research firms have also issued reports on ENB. Jefferies Financial Group lowered shares of 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 note on Monday. JPMorgan Chase & Co. boosted their price objective on shares of Enbridge from C$57.00 to C$60.00 and gave the stock a buy rating in a report on Thursday. National Bankshares raised their target price on Enbridge from C$53.00 to C$57.00 and gave the company a sector perform rating in a research note on Friday, August 23rd. BMO Capital Markets boosted their price target on Enbridge from C$54.00 to C$56.00 in a research note on Thursday, September 5th. Finally, CIBC raised their price objective on Enbridge from C$57.00 to C$59.00 in a research note on Monday, July 15th. Six equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Enbridge currently has an average rating of Hold and an average price target of C$55.25.

Enbridge Stock Performance

TSE:ENB opened at C$55.25 on Thursday. Enbridge has a twelve month low of C$42.75 and a twelve month high of C$56.09. The firm has a market capitalization of C$120.45 billion, a price-to-earnings ratio of 21.25, a PEG ratio of 0.75 and a beta of 0.90. The company has a current ratio of 0.76, a quick ratio of 0.44 and a debt-to-equity ratio of 131.26. The firm’s fifty day simple moving average is C$53.95 and its 200 day simple moving average is C$50.66.

Enbridge (TSE:ENB) (NYSE:ENB) last posted its earnings results on Friday, August 2nd. The company reported C$0.58 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.62 by C($0.04). The company had revenue of C$11.34 billion during the quarter, compared to analyst estimates of C$5.86 billion. Enbridge had a net margin of 13.54% and a return on equity of 8.57%. As a group, equities research analysts expect that Enbridge will post 3.0366521 earnings per share for the current fiscal year.

Enbridge Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Thursday, August 15th were given a dividend of $0.915 per share. This represents a $3.66 dividend on an annualized basis and a dividend yield of 6.62%. The ex-dividend date was Thursday, August 15th. Enbridge’s dividend payout ratio is presently 140.77%.

Insider Buying and Selling

In related news, Director Steven Walter Williams bought 18,600 shares of the firm’s stock in a transaction on Tuesday, August 13th. The stock was bought at an average cost of C$53.74 per share, for a total transaction of C$999,564.00. In related news, Director Steven Walter Williams bought 18,600 shares of the company’s stock in a transaction on Tuesday, August 13th. The shares were purchased at an average cost of C$53.74 per share, with a total value of C$999,564.00. Also, Senior Officer Maximilian Chan sold 688 shares of the company’s stock in a transaction dated 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.