Enbridge (TSE:ENB) Hits New 1-Year High – Here’s Why

Enbridge Inc. (TSE:ENB) (NYSE:ENB)’s stock price hit a new 52-week high on Friday . The company traded as high as C$62.27 and last traded at C$62.27, with a volume of 201741 shares. The stock had previously closed at C$61.87.

Analyst Upgrades and Downgrades

ENB has been the topic of a number of analyst reports. BMO Capital Markets increased their price objective on Enbridge from C$59.00 to C$60.00 in a report on Wednesday, December 4th. Morgan Stanley set a C$64.00 price target on shares of Enbridge and gave the company an “equal weight” rating in a research report on Friday, October 25th. Raymond James upped their price objective on shares of Enbridge from C$59.00 to C$63.00 in a report on Tuesday, November 26th. Jefferies Financial Group downgraded shares of Enbridge from a “buy” rating to a “hold” rating and lifted their target price for the stock from C$55.00 to C$58.00 in a report on Monday, September 30th. Finally, JPMorgan Chase & Co. upped their price target on shares of Enbridge from C$66.00 to C$69.00 in a report on Thursday, December 5th. Eight research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Enbridge has an average rating of “Hold” and a consensus target price of C$60.31.

Enbridge Stock Performance

The stock has a market cap of C$135.71 billion, a price-to-earnings ratio of 23.94, a PEG ratio of 1.72 and a beta of 0.90. The firm has a fifty day simple moving average of C$59.52 and a 200 day simple moving average of C$55.04. 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 firm also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Friday, February 14th will be paid a dividend of $0.9425 per share. This represents a $3.77 dividend on an annualized basis and a yield of 6.06%. This is an increase from Enbridge’s previous quarterly dividend of $0.92. Enbridge’s payout ratio is currently 140.77%.

Insider Buying and Selling at Enbridge

In other news, Senior Officer Cynthia Lynn Hansen sold 1,106 shares of the stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of C$59.94, for a total value of C$66,293.64. Insiders own 0.10% of the company’s stock.

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.