Brokerages Set Enbridge Inc. (TSE:ENB) Price Target at C$55.25

by · The Markets Daily

Enbridge Inc. (TSE:ENB – Get Free Report) (NYSE:ENB) has received an average rating of “Hold” from the nine analysts that are covering the company, Marketbeat reports. Six research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is C$55.36.

ENB has been the topic of a number of recent research reports. Royal Bank of Canada lifted their target price on Enbridge from C$55.00 to C$59.00 and gave the stock an “outperform” rating in a report on Thursday, October 3rd. Jefferies Financial Group cut Enbridge from a “buy” rating to a “hold” rating and lifted their price target for the stock from C$55.00 to C$58.00 in a research note on Monday, September 30th. JPMorgan Chase & Co. upped their price objective on shares of Enbridge from C$57.00 to C$60.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. CIBC raised their target price on shares of Enbridge from C$57.00 to C$59.00 in a report on Monday, July 15th. Finally, BMO Capital Markets boosted their price target on shares of Enbridge from C$54.00 to C$56.00 in a report on Thursday, September 5th.

Read Our Latest Stock Analysis on ENB

Insiders Place Their Bets

In related news, Senior Officer Maximilian Chan sold 688 shares of the stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of C$55.20, for a total transaction of C$37,977.60. In other Enbridge news, Director Steven Walter Williams bought 18,600 shares of Enbridge stock in a transaction on Tuesday, August 13th. The stock was purchased at an average cost of C$53.74 per share, for a total transaction of C$999,564.00. Also, Senior Officer Maximilian Chan sold 688 shares of the business’s 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 transaction of C$37,977.60. Insiders own 0.10% of the company’s stock.

Enbridge Stock Performance

TSE:ENB opened at C$57.97 on Monday. The company has a 50-day moving average of C$54.80 and a 200-day moving average of C$51.21. The firm has a market cap of C$126.37 billion, a price-to-earnings ratio of 22.30, a price-to-earnings-growth ratio of 1.72 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. Enbridge has a twelve month low of C$43.21 and a twelve month high of C$57.98.

Enbridge (TSE:ENB – Get Free Report) (NYSE:ENB) last issued its earnings results on Friday, August 2nd. The company reported C$0.58 earnings per share for the quarter, missing analysts’ consensus estimates of C$0.62 by C($0.04). The business had revenue of C$11.34 billion for the quarter, compared to the consensus estimate of C$5.86 billion. Enbridge had a return on equity of 8.57% and a net margin of 13.54%. Analysts forecast that Enbridge will post 3.511912 earnings per share for the current fiscal year.

Enbridge Announces Dividend

The business 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 yield of 6.31%. The ex-dividend date of this dividend was Thursday, August 15th. Enbridge’s payout ratio is presently 140.77%.

Enbridge Company Profile

(Get Free Report

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.

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