Enbridge Inc. (TSE:ENB) Stock Has Consensus Target Price of C$77.62 According to Analysts

Enbridge Inc. (TSE:ENB) (NYSE:ENB) has earned an average rating of “Moderate Buy” from the thirteen ratings firms that are covering the company, MarketBeat reports. Four analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating on the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is C$77.62.

ENB has been the topic of several research reports. US Capital Advisors upgraded shares of Enbridge from a “hold” rating to a “moderate buy” rating in a research report on Thursday, August 20th. The Goldman Sachs Group upgraded Enbridge to a “hold” rating in a research report on Wednesday, September 30th. National Bank Financial raised Enbridge from a “sector perform” rating to an “outperform” rating and boosted their target price for the company from C$81.00 to C$82.00 in a research report on Tuesday, September 15th. Raymond James Financial boosted their price objective on shares of Enbridge from C$79.00 to C$80.00 and gave the company a “market perform” rating in a research report on Tuesday, September 15th. Finally, TD Securities upgraded Enbridge from a “hold” rating to a “strong-buy” rating in a report on Monday, September 14th.

Enbridge Trading Up 1.6%

Shares of TSE:ENB opened at C$67.55 on Friday. Enbridge has a 12-month low of C$62.42 and a 12-month high of C$80.65. The company has a market cap of C$150.56 billion, a PE ratio of 26.08, a price-to-earnings-growth ratio of 1.72 and a beta of 0.72. The stock has a 50 day moving average of C$68.63 and a 200 day moving average of C$73.73. The company has a current ratio of 0.72, a quick ratio of 0.44 and a debt-to-equity ratio of 171.59.

Enbridge (TSE:ENB) (NYSE:ENB) last issued its earnings results on Friday, July 31st. The company reported C$0.63 earnings per share for the quarter. The company had revenue of C$29.32 billion during the quarter. Enbridge had a net margin of 7.28% and a return on equity of 10.01%. As a group, equities research analysts expect that Enbridge will post 3.51 EPS for the current year.

Enbridge Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 1st. Stockholders of record on Tuesday, September 1st were given a dividend of $0.97 per share. The ex-dividend date of this dividend was Friday, August 14th. This represents a $3.88 dividend on an annualized basis and a dividend yield of 5.7%. Enbridge’s dividend payout ratio is presently 147.68%.

Insider Activity

In related news, insider Michele Eva Harradence purchased 7,105 shares of the business’s stock in a transaction dated Monday, September 14th. The shares were acquired at an average cost of C$67.28 per share, for a total transaction of C$478,024.40. Following the acquisition, the insider owned 87,467 shares of the company’s stock, valued at C$5,884,779.76. The trade was a 8.84% increase in their position. Also, Director Gregory Lorne Ebel bought 7,105 shares of Enbridge stock in a transaction on Monday, September 14th. The stock was purchased at an average price of C$66.85 per share, with a total value of C$474,969.25. Following the completion of the acquisition, the director directly owned 589,721 shares of the company’s stock, valued at C$39,422,848.85. This represents a 1.22% increase in their position. 0.10% of the stock is owned by corporate insiders.

Enbridge Company Profile

At Enbridge, we safely connect millions of people to the energy they rely on every day, fueling quality of life through our North American natural gas, oil and renewable power networks and our growing European offshore wind portfolio. We’re investing in modern energy delivery infrastructure to sustain access to secure, affordable energy and building on more than a century of operating conventional energy infrastructure and two decades of experience in renewable power. We’re advancing new technologies including hydrogen, renewable natural gas, and carbon capture and storage.