Enbridge (TSE:ENB) Hits New 1-Year High Following Analyst Upgrade

Enbridge Inc (TSE:ENB) (NYSE:ENB) reached a new 52-week high during mid-day trading on Thursday after CIBC raised their price target on the stock from C$56.00 to C$58.00. The company traded as high as C$52.87 and last traded at C$52.80, with a volume of 1014530 shares changing hands. The stock had previously closed at C$52.48.

ENB has been the subject of a number of other research reports. Citigroup raised their price objective on shares of Enbridge from C$46.00 to C$51.00 in a report on Thursday, November 7th. Jefferies Financial Group restated a “hold” rating and issued a C$54.00 target price on shares of Enbridge in a research note on Thursday, December 5th. UBS Group raised Enbridge from a “neutral” rating to a “buy” rating and upped their price target for the stock from C$50.00 to C$54.00 in a research note on Monday, November 25th. Royal Bank of Canada set a C$56.00 price objective on Enbridge and gave the company an “outperform” rating in a research note on Friday, December 20th. Finally, Barclays boosted their price objective on Enbridge from C$51.00 to C$55.00 in a report on Tuesday. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of C$55.14.

In other Enbridge news, Director Albert Monaco acquired 6,542 shares of the business’s stock in a transaction dated Wednesday, December 11th. The shares were purchased at an average cost of C$51.08 per share, for a total transaction of C$334,160.78. Following the transaction, the director now owns 872,174 shares in the company, valued at C$44,550,037.40. Also, Senior Officer John Kendall Whelen sold 30,346 shares of the business’s stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of C$51.97, for a total value of C$1,577,081.62. Following the transaction, the insider now directly owns 200,003 shares in the company, valued at C$10,394,155.91. Insiders sold 54,253 shares of company stock valued at $2,796,860 over the last three months.

The company has a 50-day simple moving average of C$51.38 and a two-hundred day simple moving average of C$47.85. The company has a debt-to-equity ratio of 94.16, a quick ratio of 0.47 and a current ratio of 0.60. The firm has a market capitalization of $105.59 billion and a P/E ratio of 18.33.

Enbridge (TSE:ENB) (NYSE:ENB) last released its quarterly earnings results on Friday, November 8th. The company reported C$0.56 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of C$0.53 by C$0.03. The firm had revenue of C$11.60 billion for the quarter. As a group, research analysts forecast that Enbridge Inc will post 2.6400002 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Sunday, March 1st. Stockholders of record on Friday, February 14th will be given a $0.81 dividend. This is a boost from Enbridge’s previous quarterly dividend of $0.74. This represents a $3.24 dividend on an annualized basis and a dividend yield of 6.14%. The ex-dividend date is Thursday, February 13th. Enbridge’s payout ratio is currently 100.10%.

Enbridge Company Profile (TSE:ENB)

Enbridge Inc operates as an energy infrastructure company in Canada and the United States. The company operates through five segments: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution, Green Power and Transmission, and Energy Services. The Liquids Pipelines segment operates common carrier and contract crude oil, natural gas liquids (NGL), and refined products pipelines and terminals.

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