Enbridge (TSE:ENB) Stock Price Expected to Rise, Barclays Analyst Says

Enbridge (TSE:ENB) (NYSE:ENB) had its price target boosted by Barclays from C$59.00 to C$64.00 in a research report report published on Monday,BayStreet.CA reports.

Several other brokerages also recently issued reports on ENB. Morgan Stanley set a C$64.00 price target on Enbridge and gave the stock an “equal weight” rating in a report on Friday, October 25th. Jefferies Financial Group lowered shares of Enbridge from a “buy” rating to a “hold” rating and upped their target price for the stock from C$55.00 to C$58.00 in a research note on Monday, September 30th. Wells Fargo & Company raised their price target on shares of Enbridge from C$57.00 to C$60.00 in a research report on Thursday, December 5th. Royal Bank of Canada upped their price objective on shares of Enbridge from C$59.00 to C$63.00 in a research report on Wednesday, December 4th. Finally, Raymond James lifted their target price on shares of Enbridge from C$59.00 to C$63.00 in a research report on Tuesday, November 26th. Eight equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of C$61.08.

Enbridge Price Performance

ENB stock opened at C$61.61 on Monday. 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 business has a 50-day simple moving average of C$59.62 and a two-hundred day simple moving average of C$55.18. The company has a market capitalization of C$134.31 billion, a P/E ratio of 23.70, a price-to-earnings-growth ratio of 1.72 and a beta of 0.90. Enbridge has a 52-week low of C$45.05 and a 52-week high of C$62.75.

Enbridge Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Friday, February 14th will be issued a dividend of $0.9425 per share. This represents a $3.77 annualized dividend and a yield of 6.12%. This is a positive change from Enbridge’s previous quarterly dividend of $0.92. Enbridge’s dividend payout ratio is 140.77%.

Insider Buying and Selling at Enbridge

In related news, Senior Officer Cynthia Lynn Hansen sold 1,106 shares of the firm’s stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of C$59.94, for a total value of C$66,293.64. 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.