Enbridge (TSE:ENB) Sets New 52-Week High – Time to Buy?

Enbridge Inc. (TSE:ENB) (NYSE:ENB)’s stock price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as C$64.02 and last traded at C$63.71, with a volume of 1236647 shares. The stock had previously closed at C$63.24.

Analyst Ratings Changes

A number of analysts recently issued reports on ENB shares. Wells Fargo & Company increased their target price on shares of Enbridge from C$57.00 to C$60.00 in a research report on Thursday, December 5th. JPMorgan Chase & Co. increased their price objective on shares of Enbridge from C$66.00 to C$69.00 in a research report on Thursday, December 5th. TD Securities set a C$66.00 target price on shares of Enbridge and gave the company a “buy” rating in a research note on Wednesday. BMO Capital Markets upped their price target on shares of Enbridge from C$59.00 to C$60.00 in a research report on Wednesday, December 4th. Finally, Barclays raised their price objective on Enbridge from C$59.00 to C$64.00 in a research report on Monday, January 6th. Eight equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Enbridge has a consensus rating of “Hold” and a consensus target price of C$61.69.

Enbridge Stock Up 1.7 %

The company has a market capitalization of C$140.35 billion, a price-to-earnings ratio of 24.76, a P/E/G ratio of 1.72 and a beta of 0.90. The company has a quick ratio of 0.44, a current ratio of 0.76 and a debt-to-equity ratio of 131.26. The firm has a 50 day moving average price of C$60.63 and a two-hundred day moving average price of C$55.97.

Enbridge Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Friday, February 14th will be issued a dividend of $0.9425 per share. This is an increase from Enbridge’s previous quarterly dividend of $0.92. This represents a $3.77 annualized dividend and a yield of 5.86%. Enbridge’s payout ratio is currently 140.77%.

Insider Buying and Selling at Enbridge

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

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.