Enbridge (TSE:ENB) Given New C$65.00 Price Target at Scotiabank

Enbridge (TSE:ENB) (NYSE:ENB) had its price target increased by Scotiabank from C$61.00 to C$65.00 in a report published on Thursday,BayStreet.CA reports. The firm currently has a sector perform rating on the stock.

ENB has been the topic of several other reports. Morgan Stanley set a C$64.00 price target on shares of Enbridge and gave the company an “equal weight” rating in a research note on Friday, October 25th. Jefferies Financial Group increased their price objective on Enbridge from C$59.00 to C$65.00 in a report on Thursday, January 30th. JPMorgan Chase & Co. increased their price objective on Enbridge from C$66.00 to C$69.00 in a report on Thursday, December 5th. Raymond James increased their price objective on Enbridge from C$59.00 to C$63.00 in a report on Tuesday, November 26th. Finally, CIBC increased their price objective on Enbridge from C$63.00 to C$66.00 and gave the company an “outperform” rating in a report on Thursday, January 9th. 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.com, Enbridge currently has a consensus rating of “Hold” and an average price target of C$62.54.

Enbridge Stock Performance

Shares of Enbridge stock opened at C$64.62 on Thursday. The firm has a market capitalization of C$140.05 billion, a P/E ratio of 21.01, a P/E/G ratio of 1.72 and a beta of 0.90. Enbridge has a 52 week low of C$45.05 and a 52 week high of C$65.62. The company has a quick ratio of 0.44, a current ratio of 0.62 and a debt-to-equity ratio of 144.86. The firm’s 50 day moving average is C$62.10 and its two-hundred day moving average is C$57.95.

Enbridge Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Saturday, March 1st will be issued a dividend of $0.9425 per share. The ex-dividend date is Friday, February 14th. This is an increase from Enbridge’s previous quarterly dividend of $0.92. This represents a $3.77 annualized dividend and a dividend yield of 5.83%. Enbridge’s dividend payout ratio (DPR) is currently 118.98%.

Insider Buying and Selling

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

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.