Enbridge Inc. (TSE:ENB) Receives C$61.69 Average Target Price from Analysts

Enbridge Inc. (TSE:ENB) (NYSE:ENB) has been given a consensus rating of “Hold” by the eleven ratings firms that are presently covering the firm, MarketBeat.com reports. Seven equities research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is C$61.69.

A number of equities analysts have commented on ENB shares. JPMorgan Chase & Co. lifted their price objective on shares of Enbridge from C$66.00 to C$69.00 in a research note on Thursday, December 5th. Raymond James lifted their price target on Enbridge from C$59.00 to C$63.00 in a research report on Tuesday, November 26th. Scotiabank upped their price objective on Enbridge from C$57.00 to C$61.00 in a research report on Wednesday, December 4th. CIBC boosted their target price on Enbridge from C$63.00 to C$66.00 and gave the company an “outperform” rating in a research report on Thursday, January 9th. Finally, TD Securities set a C$66.00 price target on Enbridge and gave the company a “buy” rating in a report on Wednesday, January 15th.

Enbridge Price Performance

Shares of Enbridge stock opened at C$64.60 on Wednesday. The company has a quick ratio of 0.44, a current ratio of 0.76 and a debt-to-equity ratio of 131.26. Enbridge has a 52 week low of C$45.05 and a 52 week high of C$65.62. The stock’s 50-day simple moving average is C$61.16 and its 200-day simple moving average is C$56.52. The company has a market capitalization of C$140.83 billion, a price-to-earnings ratio of 24.85, a PEG ratio of 1.72 and a beta of 0.90.

Enbridge (TSE:ENB) (NYSE:ENB) last issued its earnings results on Friday, November 1st. The company reported C$0.55 earnings per share for the quarter, missing analysts’ consensus estimates of C$0.56 by C($0.01). Enbridge had a return on equity of 8.57% and a net margin of 13.54%. During the same quarter in the prior year, the business posted $0.62 EPS. As a group, analysts expect that Enbridge will post 3.511912 earnings per share for the current fiscal year.

Enbridge Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Friday, February 14th will be paid a $0.9425 dividend. This represents a $3.77 annualized dividend and a yield of 5.84%. This is an increase from Enbridge’s previous quarterly dividend of $0.92. Enbridge’s dividend payout ratio (DPR) is 140.77%.

Insider Activity

In other Enbridge news, Senior Officer Cynthia Lynn Hansen sold 1,106 shares of the business’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 transaction of C$66,293.64. Company 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.