Enbridge (TSE:ENB) Price Target Raised to C$59.00

Enbridge (TSE:ENB) (NYSE:ENB) had its price target lifted by Barclays from C$54.00 to C$59.00 in a research note released on Monday,BayStreet.CA reports.

Several other brokerages have also weighed in on ENB. BMO Capital Markets lifted their price target on Enbridge from C$54.00 to C$56.00 in a research note on Thursday, September 5th. CIBC lifted their price target on Enbridge from C$59.00 to C$67.00 in a research note on Monday, November 4th. Morgan Stanley set a C$64.00 price target on Enbridge and gave the company an “equal weight” rating in a research note on Friday, October 25th. Jefferies Financial Group lowered Enbridge from a “buy” rating to a “hold” rating and lifted their price target for the company from C$55.00 to C$58.00 in a research note on Monday, September 30th. Finally, JPMorgan Chase & Co. boosted their price objective on Enbridge from C$57.00 to C$60.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. Eight analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, Enbridge has a consensus rating of “Hold” and a consensus target price of C$57.54.

Enbridge Stock Performance

TSE ENB opened at C$59.53 on Monday. The stock has a 50-day simple moving average of C$56.14 and a two-hundred day simple moving average of C$52.38. The firm has a market capitalization of C$129.78 billion, a P/E ratio of 22.60, a PEG ratio of 1.72 and a beta of 0.90. Enbridge has a fifty-two week low of C$45.05 and a fifty-two week high of C$59.94. The company has a debt-to-equity ratio of 131.26, a quick ratio of 0.44 and a current ratio of 0.76.

Enbridge Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Sunday, December 1st will be given a dividend of $0.915 per share. This represents a $3.66 dividend on an annualized basis and a dividend yield of 6.15%. The ex-dividend date is Friday, November 15th. Enbridge’s dividend payout ratio is presently 140.77%.

Insider Transactions at Enbridge

In other news, Senior Officer Maximilian Chan sold 688 shares of the 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 value of C$37,977.60. Corporate insiders own 0.10% of the company’s stock.

Enbridge Company Profile

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.