Wells Fargo & Company Boosts Enbridge (TSE:ENB) Price Target to C$48.00

Enbridge (TSE:ENBFree Report) (NYSE:ENB) had its price target hoisted by Wells Fargo & Company from C$45.00 to C$48.00 in a report issued on Tuesday, BayStreet.CA reports.

Several other research firms have also recently weighed in on ENB. Royal Bank of Canada decreased their price target on shares of Enbridge from C$55.00 to C$54.00 and set an outperform rating on the stock in a report on Monday, February 12th. Scotiabank upped their price target on shares of Enbridge from C$50.00 to C$54.00 and gave the stock an outperform rating in a report on Monday, May 13th. JPMorgan Chase & Co. upped their price target on shares of Enbridge from C$55.00 to C$56.00 and gave the stock an overweight rating in a report on Friday, May 17th. BMO Capital Markets upped their price target on shares of Enbridge from C$52.00 to C$54.00 and gave the stock a market perform rating in a report on Monday, May 13th. Finally, Jefferies Financial Group upped their price target on shares of Enbridge from C$53.00 to C$55.00 in a report on Monday, May 13th. Six research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus price target of C$53.44.

Read Our Latest Stock Report on Enbridge

Enbridge Trading Down 0.4 %

Shares of ENB stock opened at C$49.48 on Tuesday. The company’s fifty day simple moving average is C$49.06 and its two-hundred day simple moving average is C$48.15. The company has a debt-to-equity ratio of 130.31, a current ratio of 0.68 and a quick ratio of 0.44. Enbridge has a 1 year low of C$42.75 and a 1 year high of C$52.34. The stock has a market capitalization of C$105.39 billion, a price-to-earnings ratio of 18.74, a PEG ratio of 0.75 and a beta of 0.88.

Enbridge (TSE:ENBGet Free Report) (NYSE:ENB) last issued its earnings results on Friday, May 10th. The company reported C$0.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$0.81 by C$0.11. Enbridge had a net margin of 13.81% and a return on equity of 8.70%. The business had revenue of C$11.04 billion for the quarter, compared to analysts’ expectations of C$12.24 billion. As a group, analysts anticipate that Enbridge will post 2.8613689 earnings per share for the current year.

Enbridge Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Saturday, June 1st. Shareholders of record on Wednesday, May 15th were given a dividend of $0.915 per share. The ex-dividend date was Tuesday, May 14th. This represents a $3.66 annualized dividend and a yield of 7.40%. Enbridge’s payout ratio is 138.64%.

About Enbridge

(Get Free Report)

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.

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Analyst Recommendations for Enbridge (TSE:ENB)

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