JPMorgan Chase & Co. Boosts Enbridge (TSE:ENB) Price Target to C$66.00

Enbridge (TSE:ENB) (NYSE:ENB) had its price target raised by JPMorgan Chase & Co. from C$60.00 to C$66.00 in a research note published on Thursday,BayStreet.CA reports.

A number of other brokerages also recently weighed in on ENB. Raymond James raised their price objective on Enbridge from C$54.00 to C$59.00 in a research report on Tuesday, October 22nd. Royal Bank of Canada lifted their price objective on shares of Enbridge from C$55.00 to C$59.00 and gave the stock an “outperform” rating in a research report on Thursday, October 3rd. BMO Capital Markets increased their target price on shares of Enbridge from C$54.00 to C$56.00 in a research report on Thursday, September 5th. National Bankshares lifted 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. Finally, Jefferies Financial Group lowered Enbridge from a “buy” rating to a “hold” rating and increased their price objective for the company 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.com, the stock presently has a consensus rating of “Hold” and an average price target of C$58.00.

Enbridge Stock Performance

Enbridge has a 52-week low of C$45.05 and a 52-week high of C$61.09. The firm’s 50-day moving average is C$56.89 and its two-hundred day moving average is C$52.91. The company has a market cap of C$131.82 billion, a PE ratio of 23.26, a PEG ratio of 1.72 and a beta of 0.90. 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 Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Sunday, December 1st. Investors of record on Friday, November 15th will be given a $0.915 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $3.66 dividend on an annualized basis and a yield of ∞. Enbridge’s dividend payout ratio is currently 140.77%.

Insiders Place Their Bets

In other Enbridge news, Senior Officer Maximilian Chan sold 688 shares of the company’s stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of C$55.20, for a total value of C$37,977.60. 0.10% of the stock is currently owned by insiders.

Enbridge Company Profile

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.