Morgan Stanley Analysts Give Enbridge (TSE:ENB) a C$64.00 Price Target

Morgan Stanley set a C$64.00 price target on Enbridge (TSE:ENB) (NYSE:ENB) in a report issued on Friday, BayStreet.CA reports. The firm currently has an equal weight rating on the stock.

ENB has been the subject of a number of other research reports. BMO Capital Markets raised their price target on shares of Enbridge from C$54.00 to C$56.00 in a research report on Thursday, September 5th. Raymond James raised their price objective on Enbridge from C$54.00 to C$59.00 in a research note on Tuesday, October 22nd. Jefferies Financial Group lowered shares of Enbridge from a “buy” rating to a “hold” rating and boosted their target price for the company from C$55.00 to C$58.00 in a research note on Monday, September 30th. CIBC raised their price target on shares of Enbridge from C$57.00 to C$59.00 in a research report on Monday, July 15th. Finally, National Bankshares lifted 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. Seven research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, Enbridge currently has a consensus rating of “Hold” and an average price target of C$56.31.

Enbridge Price Performance

ENB opened at C$56.93 on Friday. 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 company has a market cap of C$124.11 billion, a P/E ratio of 21.90, a P/E/G ratio of 1.72 and a beta of 0.90. The company has a 50 day moving average of C$55.15 and a two-hundred day moving average of C$51.52. Enbridge has a 52-week low of C$43.46 and a 52-week high of C$58.28.

Enbridge (TSE:ENB) (NYSE:ENB) last announced its earnings results on Friday, August 2nd. The company reported C$0.58 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 for the quarter, compared to analysts’ expectations of C$5.86 billion. Enbridge had a net margin of 13.54% and a return on equity of 8.57%. On average, analysts expect that Enbridge will post 3.511912 earnings per share for the current year.

Enbridge Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Thursday, August 15th were issued a $0.915 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $3.66 dividend on an annualized basis and a dividend yield of 6.43%. Enbridge’s payout ratio is currently 140.77%.

Insider Buying and Selling

In related news, Director Steven Walter Williams acquired 18,600 shares of Enbridge stock in a transaction dated Tuesday, August 13th. The stock was acquired at an average cost of C$53.74 per share, with a total value of C$999,564.00. In other 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. Also, Director Steven Walter Williams bought 18,600 shares of Enbridge stock in a transaction dated Tuesday, August 13th. The stock was acquired at an average price of C$53.74 per share, with a total value of C$999,564.00. 0.10% of the stock is currently owned by 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.