Enbridge (TSE:ENB) Rating Increased to Hold at Wells Fargo & Company

Wells Fargo & Company upgraded shares of Enbridge (TSE:ENBFree Report) (NYSE:ENB) from a strong sell rating to a hold rating in a research report released on Wednesday,Zacks.com reports.

A number of other research analysts also recently issued reports on ENB. JPMorgan Chase & Co. boosted their price objective on Enbridge from C$57.00 to C$60.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. Morgan Stanley set a C$64.00 price target on Enbridge and gave the stock an “equal weight” rating in a report on Friday, October 25th. CIBC boosted their price target on Enbridge from C$59.00 to C$67.00 in a report on Monday, November 4th. Royal Bank of Canada boosted their price target on Enbridge from C$55.00 to C$59.00 and gave the stock an “outperform” rating in a report on Thursday, October 3rd. Finally, Jefferies Financial Group cut Enbridge from a “buy” rating to a “hold” rating and boosted their price target for the stock from C$55.00 to C$58.00 in a report on Monday, September 30th. Eight research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of C$56.92.

Read Our Latest Research Report on Enbridge

Enbridge Trading Up 0.2 %

Shares of TSE:ENB opened at C$58.93 on Wednesday. The stock has a 50 day moving average of C$55.92 and a 200 day moving average of C$52.21. The company has a market cap of C$128.47 billion, a PE ratio of 22.67, a price-to-earnings-growth ratio of 1.72 and a beta of 0.90. The company has a current ratio of 0.76, a quick ratio of 0.44 and a debt-to-equity ratio of 131.26. Enbridge has a 12-month low of C$45.05 and a 12-month high of C$59.14.

Enbridge Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Sunday, December 1st. Investors of record on Friday, November 15th will be issued a dividend of $0.915 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $3.66 annualized dividend and a yield of 6.21%. Enbridge’s payout ratio is presently 140.77%.

Insider Activity at Enbridge

In other Enbridge news, Director Steven Walter Williams acquired 18,600 shares of the business’s stock in a transaction on Tuesday, August 13th. The shares were bought at an average price of C$53.74 per share, with a total value of C$999,564.00. In other Enbridge news, Senior Officer Maximilian Chan sold 688 shares of the company’s stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of C$55.20, for a total value of C$37,977.60. Also, Director Steven Walter Williams acquired 18,600 shares of the business’s stock in a transaction on Tuesday, August 13th. The stock was acquired at an average cost of C$53.74 per share, for a total transaction of C$999,564.00. 0.10% of the stock is currently owned by insiders.

About Enbridge

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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.

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Analyst Recommendations for Enbridge (TSE:ENB)

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