Raymond James Issues Positive Forecast for Enbridge (TSE:ENB) Stock Price

Enbridge (TSE:ENB) (NYSE:ENB) had its target price hoisted by Raymond James from C$59.00 to C$63.00 in a research report released on Tuesday,BayStreet.CA reports.

A number of other analysts have also recently weighed in on the company. Jefferies Financial Group cut Enbridge from a “buy” rating to a “hold” rating and increased their price target for the stock from C$55.00 to C$58.00 in a research report on Monday, September 30th. Morgan Stanley set a C$64.00 price target on Enbridge and gave the company an “equal weight” rating in a report on Friday, October 25th. Royal Bank of Canada increased their price objective on Enbridge from C$55.00 to C$59.00 and gave the stock an “outperform” rating in a report on Thursday, October 3rd. Wells Fargo & Company raised Enbridge from a “strong sell” rating to a “hold” rating in a research note on Wednesday, November 6th. Finally, National Bankshares increased their price target on Enbridge from C$53.00 to C$57.00 and gave the stock a “sector perform” rating in a research note on Friday, August 23rd. Eight analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, Enbridge currently has a consensus rating of “Hold” and a consensus price target of C$58.31.

Enbridge Stock Up 0.1 %

Shares of TSE:ENB opened at C$60.06 on Tuesday. The company’s fifty day moving average is C$57.10 and its two-hundred day moving average is C$53.01. 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 has a 1-year low of C$45.05 and a 1-year high of C$61.09. The stock has a market capitalization of C$130.93 billion, a price-to-earnings ratio of 23.10, a price-to-earnings-growth ratio of 1.72 and a beta of 0.90.

Enbridge Announces Dividend

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 issued a dividend of $0.915 per share. This represents a $3.66 dividend on an annualized basis and a yield of 6.09%. The ex-dividend date is Friday, November 15th. Enbridge’s payout ratio is currently 140.77%.

Insiders Place Their Bets

In other Enbridge news, Senior Officer Maximilian Chan sold 688 shares of Enbridge stock in a transaction that occurred 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 owned by company 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.