CIBC Cuts Enbridge (TSE:ENB) Price Target to C$69.00

Enbridge (TSE:ENB) (NYSE:ENB) had its price objective reduced by CIBC from C$71.00 to C$69.00 in a report published on Wednesday,BayStreet.CA reports.

ENB has been the topic of a number of other research reports. Barclays increased their price objective on Enbridge from C$65.00 to C$68.00 and gave the company an “equal weight” rating in a report on Monday, October 6th. Jefferies Financial Group increased their price target on Enbridge from C$72.00 to C$73.00 and gave the company a “buy” rating in a report on Wednesday, October 29th. Cibc World Mkts lowered shares of Enbridge from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 9th. Raymond James Financial upped their price objective on shares of Enbridge from C$74.00 to C$76.00 in a report on Monday, November 10th. Finally, BMO Capital Markets lifted their target price on shares of Enbridge from C$67.00 to C$70.00 in a report on Thursday, December 4th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of C$70.92.

Enbridge Trading Down 0.2%

TSE:ENB opened at C$64.30 on Wednesday. The company has a market capitalization of C$140.37 billion, a P/E ratio of 25.22, a P/E/G ratio of 1.72 and a beta of 0.91. The stock’s 50 day moving average price is C$66.46 and its 200 day moving average price is C$65.28. The company has a debt-to-equity ratio of 144.86, a quick ratio of 0.44 and a current ratio of 0.62. Enbridge has a 52 week low of C$56.51 and a 52 week high of C$70.39.

Enbridge (TSE:ENB) (NYSE:ENB) last issued its quarterly earnings data on Friday, November 7th. The company reported C$0.46 earnings per share (EPS) for the quarter. Enbridge had a net margin of 13.75% and a return on equity of 10.30%. The firm had revenue of C$14.64 billion during the quarter. On average, research analysts forecast that Enbridge will post 3.511912 EPS for the current fiscal year.

Enbridge Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 1st. Investors of record on Monday, December 1st were paid a dividend of $0.9425 per share. This represents a $3.77 annualized dividend and a yield of 5.9%. The ex-dividend date was Friday, November 14th. Enbridge’s dividend payout ratio is presently 146.76%.

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. Finally, the firm has a small renewables portfolio primarily focused on onshore and offshore wind projects.