Enbridge (TSE:ENB) Price Target Raised to C$67.00

Enbridge (TSE:ENB) (NYSE:ENB) had its price objective lifted by CIBC from C$59.00 to C$67.00 in a research report released on Monday morning, BayStreet.CA reports.

Other research analysts also recently issued research reports about the stock. JPMorgan Chase & Co. upped their price target on shares of Enbridge from C$57.00 to C$60.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. BMO Capital Markets upped their price target on shares of Enbridge from C$54.00 to C$56.00 in a research report on Thursday, September 5th. National Bankshares upped 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 research report on Friday, August 23rd. Royal Bank of Canada increased their price objective on shares of Enbridge from C$55.00 to C$59.00 and gave the company an “outperform” rating in a report on Thursday, October 3rd. Finally, Morgan Stanley set a C$64.00 price objective on shares of Enbridge and gave the company an “equal weight” rating in a report on Friday, October 25th. Seven equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, Enbridge has a consensus rating of “Hold” and an average target price of C$56.92.

Enbridge Trading Up 2.0 %

Shares of Enbridge stock opened at C$57.91 on Monday. The firm has a 50-day simple moving average of C$55.70 and a two-hundred day simple moving average of C$52.08. The company has a market cap of C$126.24 billion, a P/E ratio of 22.27, a price-to-earnings-growth ratio of 1.72 and a beta of 0.90. Enbridge has a fifty-two week low of C$45.05 and a fifty-two week high of C$58.28. 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 Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Sunday, December 1st will be paid a $0.915 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $3.66 annualized dividend and a dividend yield of 6.32%. Enbridge’s dividend payout ratio (DPR) is 140.77%.

Insider Activity

In other news, Director Steven Walter Williams purchased 18,600 shares of the company’s stock in a transaction dated Tuesday, August 13th. The stock was acquired at an average price of C$53.74 per share, with a total value of C$999,564.00. In related news, Director Steven Walter Williams acquired 18,600 shares of the stock in a transaction that occurred on Tuesday, August 13th. The stock was purchased at an average price of C$53.74 per share, with a total value of C$999,564.00. Also, Senior Officer Maximilian Chan sold 688 shares of the stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of C$55.20, for a total transaction of C$37,977.60. 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.