Enbridge (TSE:ENB) Sets New 52-Week High – Here’s What Happened

Shares of Enbridge Inc. (TSE:ENB) (NYSE:ENB) hit a new 52-week high on Wednesday . The stock traded as high as C$56.16 and last traded at C$56.10, with a volume of 1379172 shares trading hands. The stock had previously closed at C$55.50.

Analysts Set New Price Targets

ENB has been the topic of several analyst reports. BMO Capital Markets lifted their price target on shares of Enbridge from C$54.00 to C$56.00 in a research note on Thursday, September 5th. National Bankshares raised their price objective on Enbridge from C$53.00 to C$57.00 and gave the company a “sector perform” rating in a research note on Friday, August 23rd. Royal Bank of Canada upped their target price on Enbridge from C$55.00 to C$59.00 and gave the company an “outperform” rating in a research report on Thursday, October 3rd. Scotiabank downgraded shares of Enbridge from a “strong-buy” rating to a “hold” rating in a research report on Friday, June 14th. Finally, JPMorgan Chase & Co. upped their price target on shares of Enbridge from C$57.00 to C$60.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. Six research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of C$55.25.

Enbridge Stock Performance

The company has a quick ratio of 0.44, a current ratio of 0.76 and a debt-to-equity ratio of 131.26. The firm has a market capitalization of C$122.34 billion, a price-to-earnings ratio of 21.46, a P/E/G ratio of 0.75 and a beta of 0.90. The company has a 50-day moving average price of C$54.14 and a 200-day moving average price of C$50.80.

Enbridge (TSE:ENB) (NYSE:ENB) last released its quarterly earnings results on Friday, August 2nd. The company reported C$0.58 earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.62 by C($0.04). Enbridge had a return on equity of 8.57% and a net margin of 13.54%. The business had revenue of C$11.34 billion during the quarter, compared to the consensus estimate of C$5.86 billion. As a group, equities research analysts forecast that Enbridge Inc. will post 3.0366521 earnings per share for the current year.

Enbridge Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Thursday, August 15th were paid a dividend of $0.915 per share. The ex-dividend date was Thursday, August 15th. This represents a $3.66 annualized dividend and a yield of 6.52%. Enbridge’s payout ratio is 140.77%.

Insiders Place Their Bets

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

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.