Brokerages Set Enbridge Inc. (TSE:ENB) PT at C$63.31

Shares of Enbridge Inc. (TSE:ENB) (NYSE:ENB) have earned a consensus rating of “Hold” from the eleven brokerages that are currently covering the company, Marketbeat Ratings reports. Seven investment analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year price target among brokers that have covered the stock in the last year is C$63.31.

A number of brokerages have recently commented on ENB. TD Securities raised their price target on Enbridge from C$66.00 to C$67.00 and gave the company a “buy” rating in a report on Tuesday, February 18th. BMO Capital Markets raised their price target on Enbridge from C$59.00 to C$60.00 in a report on Wednesday, December 4th. Raymond James raised their price target on Enbridge from C$65.00 to C$67.00 in a report on Tuesday, February 18th. JPMorgan Chase & Co. raised their price target on Enbridge from C$66.00 to C$69.00 in a report on Thursday, December 5th. Finally, CIBC raised their price target on Enbridge from C$66.00 to C$67.00 in a report on Wednesday, March 5th.

Insider Activity at Enbridge

In related news, Senior Officer Matthew Allan Akman purchased 1,000 shares of the firm’s stock in a transaction that occurred on Friday, March 14th. The stock was acquired at an average price of C$61.24 per share, for a total transaction of C$61,240.00. Also, Senior Officer Cynthia Lynn Hansen sold 1,106 shares of the stock in a transaction on Monday, December 23rd. The shares were sold at an average price of C$59.94, for a total value of C$66,293.64. Company insiders own 0.10% of the company’s stock.

Enbridge Price Performance

Shares of ENB opened at C$62.14 on Thursday. The company has a market cap of C$134.67 billion, a P/E ratio of 20.20, a PEG ratio of 1.72 and a beta of 0.90. The stock has a fifty day moving average price of C$62.37 and a 200 day moving average price of C$59.33. The company has a debt-to-equity ratio of 144.86, a current ratio of 0.62 and a quick ratio of 0.44. Enbridge has a 12 month low of C$45.39 and a 12 month high of C$65.62.

Enbridge Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Saturday, March 1st. Investors of record on Saturday, March 1st were paid a dividend of $0.9425 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $3.77 annualized dividend and a yield of 6.07%. This is a boost from Enbridge’s previous quarterly dividend of $0.92. Enbridge’s dividend payout ratio (DPR) is currently 118.98%.

Enbridge Company Profile

Enbridge owns extensive midstream assets that transport hydrocarbons across the U.S. and Canada. Its pipeline network consists of the Canadian Mainline system, regional oil sands pipelines, and natural gas pipelines. The company also owns and operates a regulated natural gas utility and Canada’s largest natural gas distribution company.