Enbridge (TSE:ENB) Reaches New 52-Week High – Should You Buy?

Enbridge Inc. (TSE:ENB) (NYSE:ENB) reached a new 52-week high during trading on Tuesday . The company traded as high as C$64.68 and last traded at C$64.57, with a volume of 200917 shares traded. The stock had previously closed at C$63.93.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. Jefferies Financial Group lowered shares of Enbridge from a “buy” rating to a “hold” rating and lifted their price target for the stock from C$55.00 to C$58.00 in a research report on Monday, September 30th. Barclays boosted their target price on Enbridge from C$59.00 to C$64.00 in a research report on Monday, January 6th. CIBC lifted their price target on Enbridge from C$63.00 to C$66.00 and gave the stock an “outperform” rating in a research note on Thursday, January 9th. Royal Bank of Canada upped their price objective on shares of Enbridge from C$59.00 to C$63.00 in a research note on Wednesday, December 4th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Enbridge from C$66.00 to C$69.00 in a research report on Thursday, December 5th. Seven research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, Enbridge has a consensus rating of “Hold” and a consensus price target of C$61.69.

Enbridge Price Performance

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 stock’s 50 day moving average price is C$61.06 and its two-hundred day moving average price is C$56.42. The firm has a market capitalization of C$140.39 billion, a price-to-earnings ratio of 24.77, a P/E/G ratio of 1.72 and a beta of 0.90.

Enbridge (TSE:ENB) (NYSE:ENB) last issued its earnings results on Friday, November 1st. The company reported C$0.55 earnings per share for the quarter, missing the consensus estimate of C$0.56 by C($0.01). Enbridge had a return on equity of 8.57% and a net margin of 13.54%. During the same period last year, the business earned $0.62 earnings per share. Analysts anticipate that Enbridge Inc. will post 3.511912 EPS for the current fiscal year.

Enbridge Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Friday, February 14th will be paid a $0.9425 dividend. This is a boost from Enbridge’s previous quarterly dividend of $0.92. This represents a $3.77 dividend on an annualized basis and a yield of 5.85%. Enbridge’s payout ratio is 140.77%.

Insider Transactions at Enbridge

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

About Enbridge

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.