JPMorgan Chase & Co. Raises Enbridge (TSE:ENB) Price Target to C$60.00

by · The Cerbat Gem

Enbridge (TSE:ENB – Free Report) (NYSE:ENB) had its price objective lifted by JPMorgan Chase & Co. from C$57.00 to C$60.00 in a report published on Thursday morning, BayStreet.CA reports. The brokerage currently has a buy rating on the stock.

Several other analysts have also recently weighed in on the stock. Jefferies Financial Group cut shares of Enbridge from a buy rating to a hold rating and raised their target price for the company from C$55.00 to C$58.00 in a report on Monday, September 30th. CIBC raised their price objective on shares of Enbridge from C$57.00 to C$59.00 in a report on Monday, July 15th. Scotiabank cut shares of Enbridge from a strong-buy rating to a hold rating in a report on Friday, June 14th. National Bankshares raised their price objective on shares of Enbridge from C$53.00 to C$57.00 and gave the stock a sector perform rating in a report on Friday, August 23rd. Finally, BMO Capital Markets raised their price objective on shares of Enbridge from C$54.00 to C$56.00 in a report on Thursday, September 5th. Six equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, Enbridge currently has an average rating of Hold and an average price target of C$55.25.

Check Out Our Latest Stock Analysis on ENB

Enbridge Stock Up 0.9 %

Shares of TSE:ENB opened at C$55.76 on Thursday. The firm’s 50 day moving average price is C$54.05 and its 200 day moving average price is C$50.73. The stock has a market cap of C$121.56 billion, a price-to-earnings ratio of 21.45, a price-to-earnings-growth ratio of 0.75 and a beta of 0.90. Enbridge has a fifty-two week low of C$42.87 and a fifty-two week high of C$56.09. 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 (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 the consensus estimate of C$0.62 by C($0.04). The firm had revenue of C$11.34 billion during the quarter, compared to analyst estimates of C$5.86 billion. Enbridge had a net margin of 13.54% and a return on equity of 8.57%. As a group, equities research analysts predict that Enbridge will post 3.0366521 earnings per share for the current fiscal year.

Enbridge Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Thursday, August 15th were given a dividend of $0.915 per share. 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 6.56%. Enbridge’s dividend payout ratio (DPR) is presently 140.77%.

Insider Transactions at Enbridge

In other Enbridge news, Director Steven Walter Williams bought 18,600 shares of the stock in a transaction dated Tuesday, August 13th. The shares were acquired at an average cost of C$53.74 per share, for a total transaction of C$999,564.00. In other news, Director Steven Walter Williams acquired 18,600 shares of the stock in a transaction that occurred on Tuesday, August 13th. The shares were 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 Enbridge stock in a transaction 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. Insiders own 0.10% of the company’s stock.

About Enbridge

(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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