CIBC Issues Positive Forecast for Enbridge (TSE:ENB) Stock Price

Enbridge (TSE:ENB) (NYSE:ENB) had its target price raised by CIBC from C$66.00 to C$67.00 in a research report released on Wednesday morning,BayStreet.CA reports.

ENB has been the topic of a number of other research reports. Jefferies Financial Group upped their target price on Enbridge from C$59.00 to C$65.00 in a research report on Thursday, January 30th. TD Securities upped their price objective on shares of Enbridge from C$66.00 to C$67.00 and gave the company a “buy” rating in a report on Tuesday, February 18th. Royal Bank of Canada raised their target price on shares of Enbridge from C$63.00 to C$67.00 in a report on Tuesday, February 18th. Barclays upped their price target on shares of Enbridge from C$59.00 to C$64.00 in a report on Monday, January 6th. Finally, Scotiabank lifted their price objective on Enbridge from C$61.00 to C$65.00 and gave the company a “sector perform” rating in a research note on Thursday, February 13th. Seven investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, Enbridge has a consensus rating of “Hold” and a consensus price target of C$63.31.

Enbridge Stock Performance

Shares of ENB opened at C$61.01 on Wednesday. The company has a debt-to-equity ratio of 144.86, a quick ratio of 0.44 and a current ratio of 0.62. The stock has a 50-day moving average of C$62.36 and a two-hundred day moving average of C$58.86. The stock has a market cap of C$132.22 billion, a P/E ratio of 19.83, a P/E/G ratio of 1.72 and a beta of 0.90. Enbridge has a one year low of C$45.39 and a one year high of C$65.62.

Enbridge Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Saturday, March 1st. Stockholders of record on Saturday, March 1st were paid a dividend of $0.9425 per share. This represents a $3.77 annualized dividend and a dividend yield of 6.18%. This is an increase from Enbridge’s previous quarterly dividend of $0.92. The ex-dividend date of this dividend was Friday, February 14th. Enbridge’s dividend payout ratio is presently 118.98%.

Insider Activity

In related news, Senior Officer Cynthia Lynn Hansen sold 1,106 shares of the company’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of C$59.94, for a total transaction of C$66,293.64. Insiders own 0.10% of the company’s stock.

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.