Enbridge Inc. (TSE:ENB) Receives C$63.31 Consensus Price Target from Brokerages

Enbridge Inc. (TSE:ENB) (NYSE:ENB) has earned a consensus rating of “Hold” from the eleven brokerages that are covering the company, MarketBeat reports. Seven research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is C$63.31.

A number of brokerages have recently issued reports on ENB. Scotiabank lifted their price target on Enbridge from C$61.00 to C$65.00 and gave the company a “sector perform” rating in a research report on Thursday, February 13th. BMO Capital Markets boosted their price objective on Enbridge from C$59.00 to C$60.00 in a research report on Wednesday, December 4th. Wells Fargo & Company boosted their price objective on Enbridge from C$57.00 to C$60.00 in a research report on Thursday, December 5th. Raymond James boosted their price objective on Enbridge from C$65.00 to C$67.00 in a research report on Tuesday, February 18th. Finally, Jefferies Financial Group boosted their price objective on Enbridge from C$59.00 to C$65.00 in a research report on Thursday, January 30th.

Enbridge Stock Up 1.0 %

ENB stock opened at C$62.67 on Thursday. The company has a quick ratio of 0.44, a current ratio of 0.62 and a debt-to-equity ratio of 144.86. The firm has a market capitalization of C$135.82 billion, a PE ratio of 20.37, a PEG ratio of 1.72 and a beta of 0.90. Enbridge has a twelve month low of C$45.39 and a twelve month high of C$65.62. The stock has a 50-day simple moving average of C$62.34 and a two-hundred day simple moving average of C$59.41.

Enbridge Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Saturday, March 1st. Stockholders of record on Saturday, March 1st were 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 dividend on an annualized basis and a dividend yield of 6.02%. The ex-dividend date was Friday, February 14th. Enbridge’s dividend payout ratio is presently 118.98%.

Insider Activity

In other Enbridge news, Senior Officer Cynthia Lynn Hansen sold 1,106 shares of the stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of C$59.94, for a total value of C$66,293.64. Also, Senior Officer Matthew Allan Akman bought 1,000 shares of the stock in a transaction on Friday, March 14th. The stock was purchased at an average cost of C$61.24 per share, for a total transaction of C$61,240.00. Corporate insiders own 0.10% of the company’s stock.

About Enbridge

Enbridge owns extensive midstream assets that transport hydrocarbons across the U.S. and Canada. Its pipeline network consists of the Canadian Mainline system, regional oil sands pipelines, and natural gas pipelines. The company also owns and operates a regulated natural gas utility and Canada’s largest natural gas distribution company.