Enbridge Inc. (TSE:ENB) Receives C$61.69 Consensus Price Target from Brokerages

Enbridge Inc. (TSE:ENB) (NYSE:ENB) has been given an average rating of “Hold” by the eleven ratings firms that are presently covering the firm, Marketbeat Ratings reports. Seven investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is C$61.69.

A number of research analysts recently issued reports on the company. Raymond James boosted their price objective on Enbridge from C$59.00 to C$63.00 in a research report on Tuesday, November 26th. Morgan Stanley set a C$64.00 price objective on Enbridge and gave the company an “equal weight” rating in a research report on Friday, October 25th. CIBC boosted their price objective 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. Royal Bank of Canada boosted their price objective on Enbridge from C$59.00 to C$63.00 in a research report on Wednesday, December 4th. Finally, Barclays boosted their price objective on Enbridge from C$59.00 to C$64.00 in a research report on Monday, January 6th.

Enbridge Price Performance

Shares of ENB opened at C$64.05 on Wednesday. The firm has a market cap of C$139.63 billion, a price-to-earnings ratio of 24.63, a PEG ratio of 1.72 and a beta of 0.90. The stock has a 50 day moving average of C$61.34 and a 200-day moving average of C$56.80. 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 52 week low of C$45.05 and a 52 week high of C$65.62.

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

Enbridge Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Friday, February 14th will be issued a dividend of $0.9425 per share. This is a positive change from Enbridge’s previous quarterly dividend of $0.92. This represents a $3.77 dividend on an annualized basis and a yield of 5.89%. Enbridge’s payout ratio is presently 140.77%.

Insider Buying and Selling

In related news, Senior Officer Cynthia Lynn Hansen sold 1,106 shares of Enbridge stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of C$59.94, for a total transaction of C$66,293.64. 0.10% of the stock is owned by corporate insiders.

About Enbridge

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.