Enbridge (TSE:ENB) Price Target Raised to C$63.00 at Royal Bank of Canada

Enbridge (TSE:ENB) (NYSE:ENB) had its price objective upped by Royal Bank of Canada from C$59.00 to C$63.00 in a research report sent to investors on Wednesday morning,BayStreet.CA reports.

A number of other equities analysts also recently commented on ENB. National Bankshares upped their target price on shares of 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. CIBC increased their price objective on Enbridge from C$59.00 to C$67.00 in a research note on Monday, November 4th. BMO Capital Markets lifted their target price on Enbridge from C$54.00 to C$56.00 in a research report on Thursday, September 5th. Barclays increased their price target on Enbridge from C$54.00 to C$59.00 in a research report on Monday, November 11th. Finally, JPMorgan Chase & Co. lifted their price objective on Enbridge from C$60.00 to C$66.00 in a report on Thursday, November 21st. Eight equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, Enbridge has an average rating of “Hold” and a consensus target price of C$59.15.

Enbridge Trading Up 0.3 %

TSE ENB opened at C$61.38 on Wednesday. The stock has a market cap of C$133.81 billion, a PE ratio of 23.61, a PEG ratio of 1.72 and a beta of 0.90. Enbridge has a 12 month low of C$45.05 and a 12 month high of C$61.89. The company’s 50-day moving average price is C$57.76 and its 200-day moving average price is C$53.42. 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 Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Friday, February 14th will be given a dividend of $0.9425 per share. This represents a $3.77 annualized dividend and a dividend yield of 6.14%. This is a positive change from Enbridge’s previous quarterly dividend of $0.92. Enbridge’s dividend payout ratio is presently 140.77%.

Insider Transactions at Enbridge

In other 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 transaction of C$37,977.60. 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.