Jefferies Financial Group Issues Positive Forecast for Enbridge (TSE:ENB) Stock Price

Enbridge (TSE:ENB) (NYSE:ENB) had its price target lifted by Jefferies Financial Group from C$59.00 to C$65.00 in a research note released on Thursday,BayStreet.CA reports.

Other research analysts have also recently issued research reports about the stock. Morgan Stanley set a C$64.00 price objective on shares of Enbridge and gave the company an “equal weight” rating in a research report on Friday, October 25th. Raymond James upped their price target on shares of Enbridge from C$59.00 to C$63.00 in a report on Tuesday, November 26th. Scotiabank upped their price target on shares of Enbridge from C$57.00 to C$61.00 in a report on Wednesday, December 4th. JPMorgan Chase & Co. upped their price target on shares of Enbridge from C$66.00 to C$69.00 in a report on Thursday, December 5th. Finally, Royal Bank of Canada upped their price target on shares of Enbridge from C$59.00 to C$63.00 in a report on Wednesday, December 4th. Seven investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, Enbridge has an average rating of “Hold” and a consensus price target of C$62.23.

Enbridge Trading Up 0.9 %

Shares of ENB opened at C$64.43 on Thursday. The company’s fifty day moving average is C$61.50 and its 200 day moving average is C$56.96. Enbridge has a fifty-two week low of C$45.05 and a fifty-two week high of C$65.62. The stock has a market capitalization of C$140.46 billion, a PE ratio of 24.78, a P/E/G ratio of 1.72 and a beta of 0.90. The company has a debt-to-equity ratio of 131.26, a quick ratio of 0.44 and a current ratio of 0.76.

Enbridge (TSE:ENB) (NYSE:ENB) last posted its quarterly earnings data on Friday, November 1st. The company reported C$0.55 earnings per share for the quarter, missing analysts’ consensus estimates of C$0.56 by C($0.01). Enbridge had a net margin of 13.54% and a return on equity of 8.57%. During the same quarter in the prior year, the firm posted $0.62 EPS. Sell-side analysts expect that Enbridge will post 3.511912 earnings per share for the current fiscal year.

Enbridge Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Friday, February 14th will be given a dividend of $0.9425 per share. This represents a $3.77 annualized dividend and a dividend yield of 5.85%. This is a positive change from Enbridge’s previous quarterly dividend of $0.92. Enbridge’s dividend payout ratio is presently 140.77%.

Insider Buying and Selling at Enbridge

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

Enbridge Company Profile

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.