Analysts Set Enbridge Inc. (TSE:ENB) Price Target at C$64.14

Enbridge Inc. (TSE:ENB) (NYSE:ENB) has been assigned an average recommendation of “Hold” from the twelve ratings firms that are covering the company, MarketBeat reports. Seven equities research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is C$64.14.

A number of analysts have recently issued reports on ENB shares. Jefferies Financial Group lifted their price target on Enbridge from C$59.00 to C$65.00 in a research report on Thursday, January 30th. Raymond James boosted their price target on shares of Enbridge from C$65.00 to C$67.00 in a research note on Tuesday, February 18th. Citigroup set a C$75.00 price target on shares of Enbridge and gave the stock a “buy” rating in a report on Friday, April 4th. TD Securities lifted their price objective on shares of Enbridge from C$66.00 to C$67.00 and gave the stock a “buy” rating in a report on Tuesday, February 18th. Finally, Scotiabank increased their target price 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.

Enbridge Price Performance

TSE:ENB opened at C$60.05 on Monday. Enbridge has a 52-week low of C$45.39 and a 52-week high of C$65.62. The stock has a fifty day moving average of C$61.64 and a 200 day moving average of C$60.36. 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 firm has a market capitalization of C$130.14 billion, a price-to-earnings ratio of 19.52, a P/E/G ratio of 1.72 and a beta of 0.90.

Enbridge Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Saturday, March 1st. Stockholders of record on Saturday, March 1st were issued a $0.9425 dividend. This is a boost from Enbridge’s previous quarterly dividend of $0.92. The ex-dividend date was Friday, February 14th. This represents a $3.77 annualized dividend and a dividend yield of 6.28%. Enbridge’s dividend payout ratio (DPR) is currently 118.98%.

Insider Buying and Selling

In other Enbridge news, Senior Officer Matthew Allan Akman purchased 1,000 shares of Enbridge stock in a transaction that occurred on Friday, March 14th. The shares were bought at an average price of C$61.24 per share, for a total transaction of C$61,240.00. Also, Senior Officer Michele Eva Harradence purchased 5,857 shares of the stock in a transaction on Wednesday, March 19th. The shares were acquired at an average cost of C$62.53 per share, with a total value of C$366,238.21. 0.10% of the stock is owned by insiders.

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.