Enbridge (TSE:ENB) Price Target Increased to C$59.00 by Analysts at Raymond James

Enbridge (TSE:ENB) (NYSE:ENB) had its price objective increased by Raymond James from C$54.00 to C$59.00 in a research note published on Tuesday, BayStreet.CA reports.

A number of other brokerages have also weighed in on ENB. CIBC upped their target price on shares of Enbridge from C$57.00 to C$59.00 in a research note on Monday, July 15th. Jefferies Financial Group downgraded Enbridge from a “buy” rating to a “hold” rating and increased their price objective for the stock from C$55.00 to C$58.00 in a report on Monday, September 30th. BMO Capital Markets boosted their target price on Enbridge from C$54.00 to C$56.00 in a research note on Thursday, September 5th. Royal Bank of Canada raised their price target on shares of Enbridge from C$55.00 to C$59.00 and gave the stock an “outperform” rating in a research note on Thursday, October 3rd. Finally, National Bankshares boosted their price objective on shares of Enbridge from C$53.00 to C$57.00 and gave the stock a “sector perform” rating in a research report on Friday, August 23rd. Six equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of C$55.67.

Enbridge Stock Down 0.3 %

Shares of Enbridge stock opened at C$57.31 on Tuesday. Enbridge has a 1 year low of C$43.21 and a 1 year high of C$58.28. The company has a debt-to-equity ratio of 131.26, a current ratio of 0.76 and a quick ratio of 0.44. The company has a market capitalization of C$124.94 billion, a P/E ratio of 22.04, a price-to-earnings-growth ratio of 1.72 and a beta of 0.90. The business has a 50-day moving average of C$54.97 and a two-hundred day moving average of C$51.33.

Enbridge (TSE:ENB) (NYSE:ENB) last announced its earnings results on Friday, August 2nd. The company reported C$0.58 EPS for the quarter, missing the consensus estimate of C$0.62 by C($0.04). The company had revenue of C$11.34 billion for the quarter, compared to analyst estimates of C$5.86 billion. Enbridge had a return on equity of 8.57% and a net margin of 13.54%. As a group, equities analysts predict that Enbridge will post 3.511912 EPS for the current year.

Enbridge Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Thursday, August 15th were issued a dividend of $0.915 per share. This represents a $3.66 dividend on an annualized basis and a yield of 6.39%. The ex-dividend date of this dividend was Thursday, August 15th. Enbridge’s payout ratio is currently 140.77%.

Insider Buying and Selling at Enbridge

In other Enbridge news, Director Steven Walter Williams bought 18,600 shares of Enbridge stock in a transaction dated Tuesday, August 13th. The stock was bought at an average cost of C$53.74 per share, for a total transaction of C$999,564.00. In other Enbridge news, Senior Officer Maximilian Chan sold 688 shares of the firm’s 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 transaction of C$37,977.60. Also, Director Steven Walter Williams bought 18,600 shares of the firm’s stock in a transaction dated Tuesday, August 13th. The stock was purchased at an average cost of C$53.74 per share, for a total transaction of C$999,564.00. Corporate 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.