Enbridge Inc. (TSE:ENB) Receives C$65.79 Average PT from Analysts

Shares of Enbridge Inc. (TSE:ENB) (NYSE:ENB) have been assigned an average recommendation of “Hold” from the eleven analysts that are currently covering the company, MarketBeat Ratings reports. Six equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12 month price objective among analysts that have covered the stock in the last year is C$65.79.

A number of brokerages recently commented on ENB. CIBC raised their price objective on shares of Enbridge from C$66.00 to C$67.00 in a report on Wednesday, March 5th. TD Securities upped their price objective on Enbridge from C$66.00 to C$67.00 and gave the stock a “buy” rating in a research report 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 research note on Friday, April 4th. Scotiabank boosted their price objective on shares of Enbridge from C$61.00 to C$65.00 and gave the stock a “sector perform” rating in a research report on Thursday, February 13th. Finally, Jefferies Financial Group increased their target price on shares of Enbridge from C$59.00 to C$65.00 in a report on Thursday, January 30th.

Insider Transactions at Enbridge

In related news, Senior Officer Matthew Allan Akman bought 1,000 shares of Enbridge stock in a transaction that occurred on Friday, March 14th. The stock was acquired at an average price of C$61.24 per share, with a total value 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 stock was bought at an average cost of C$62.53 per share, for a total transaction of C$366,238.21. 0.10% of the stock is currently owned by corporate insiders.

Enbridge Trading Down 1.2 %

TSE ENB opened at C$63.57 on Friday. Enbridge has a one year low of C$47.41 and a one year high of C$65.62. The company has a debt-to-equity ratio of 144.86, a current ratio of 0.62 and a quick ratio of 0.44. The firm has a market cap of C$137.77 billion, a P/E ratio of 20.66, a P/E/G ratio of 1.72 and a beta of 0.90. The stock’s 50-day moving average is C$62.22 and its 200-day moving average is C$61.23.

Enbridge Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, June 1st. Stockholders of record on Sunday, June 1st will be given a $0.9425 dividend. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $3.77 dividend on an annualized basis and a dividend yield of 5.93%. Enbridge’s payout ratio is 118.98%.

Enbridge Company Profile

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.