Enbridge (TSE:ENB) Price Target Raised to C$66.00

Enbridge (TSE:ENB) (NYSE:ENB) had its target price raised by CIBC from C$63.00 to C$66.00 in a report issued on Thursday morning,BayStreet.CA reports. The brokerage currently has an outperform rating on the stock.

A number of other brokerages have also recently issued reports on ENB. JPMorgan Chase & Co. upped their price objective on shares of Enbridge from C$66.00 to C$69.00 in a research note on Thursday, December 5th. Jefferies Financial Group cut shares of Enbridge from a “buy” rating to a “hold” rating and raised their target price for the stock from C$55.00 to C$58.00 in a report on Monday, September 30th. Raymond James raised their target price on Enbridge from C$59.00 to C$63.00 in a research note on Tuesday, November 26th. BMO Capital Markets lifted their price objective on Enbridge from C$59.00 to C$60.00 in a research report on Wednesday, December 4th. Finally, Royal Bank of Canada raised their price target on Enbridge from C$59.00 to C$63.00 in a research note on Wednesday, December 4th. Eight investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, Enbridge has a consensus rating of “Hold” and a consensus price target of C$61.33.

Enbridge Stock Down 0.4 %

ENB opened at C$62.74 on Thursday. The stock has a market cap of C$136.77 billion, a PE ratio of 24.13, a P/E/G ratio of 1.72 and a beta of 0.90. The company has a quick ratio of 0.44, a current ratio of 0.76 and a debt-to-equity ratio of 131.26. Enbridge has a 52 week low of C$45.05 and a 52 week high of C$63.40. The business’s fifty day simple moving average is C$60.13 and its 200 day simple moving average is C$55.60.

Enbridge Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Friday, February 14th will be paid a $0.9425 dividend. This is a boost from Enbridge’s previous quarterly dividend of $0.92. This represents a $3.77 dividend on an annualized basis and a yield of 6.01%. Enbridge’s payout ratio is presently 140.77%.

Insider Activity

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