Enbridge (TSE:ENB) Sets New 12-Month High at $55.88

Enbridge Inc. (TSE:ENB) (NYSE:ENB)’s stock price reached a new 52-week high during trading on Monday . The company traded as high as C$55.88 and last traded at C$55.79, with a volume of 1187243 shares. The stock had previously closed at C$55.37.

Analysts Set New Price Targets

A number of equities research analysts have commented on ENB shares. National Bankshares raised their price target on shares of Enbridge from C$53.00 to C$57.00 and gave the stock a “sector perform” rating in a report on Friday, August 23rd. Wells Fargo & Company raised their price target on shares of Enbridge from C$45.00 to C$48.00 in a report on Tuesday, June 4th. Scotiabank cut shares of Enbridge from a “strong-buy” rating to a “hold” rating in a report on Friday, June 14th. CIBC lifted their price objective on shares of Enbridge from C$57.00 to C$59.00 in a report on Monday, July 15th. Finally, BMO Capital Markets lifted their price objective on shares of Enbridge from C$54.00 to C$56.00 in a report on Thursday, September 5th. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, Enbridge currently has an average rating of “Moderate Buy” and an average price target of C$54.33.

Enbridge Trading Down 0.6 %

The firm has a market capitalization of C$120.29 billion, a PE ratio of 21.22, a PEG ratio of 0.75 and a beta of 0.90. The firm’s fifty day moving average is C$52.76 and its two-hundred day moving average is C$50.14. The company has a debt-to-equity ratio of 131.26, a current ratio of 0.76 and a quick ratio of 0.44.

Enbridge (TSE:ENB) (NYSE:ENB) last announced its quarterly earnings data on Friday, August 2nd. The company reported C$0.58 EPS for the quarter, missing the consensus estimate of C$0.62 by C($0.04). The company had revenue of C$11.34 billion during the quarter, compared to the consensus estimate of C$5.86 billion. Enbridge had a return on equity of 8.57% and a net margin of 13.54%. On average, equities analysts predict that Enbridge Inc. will post 3.0693674 EPS for the current fiscal year.

Enbridge Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Thursday, August 15th were given a $0.915 dividend. This represents a $3.66 annualized dividend and a yield of 6.63%. The ex-dividend date was Thursday, August 15th. Enbridge’s dividend payout ratio is 140.77%.

Insider Activity

In other news, Director Steven Walter Williams acquired 18,600 shares of Enbridge stock in a transaction that occurred on Tuesday, August 13th. The stock was bought at an average price of C$53.74 per share, with a total value of C$999,564.00. 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.