Royal Bank of Canada Raises Enbridge (TSE:ENB) Price Target to C$67.00

Enbridge (TSE:ENB) (NYSE:ENB) had its price objective boosted by Royal Bank of Canada from C$63.00 to C$67.00 in a research report sent to investors on Tuesday,BayStreet.CA reports.

Several other equities research analysts have also issued reports on ENB. Scotiabank lifted their price target on Enbridge from C$61.00 to C$65.00 and gave the stock a “sector perform” rating in a research note on Thursday, February 13th. Morgan Stanley set a C$64.00 price target on Enbridge and gave the stock an “equal weight” rating in a research note on Friday, October 25th. Barclays lifted their price target on Enbridge from C$59.00 to C$64.00 in a research note on Monday, January 6th. Wells Fargo & Company lifted their price target on Enbridge from C$57.00 to C$60.00 in a research note on Thursday, December 5th. Finally, Jefferies Financial Group lifted their price target on Enbridge from C$59.00 to C$65.00 in a research note on Thursday, January 30th. Seven equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of C$63.23.

Enbridge Price Performance

Enbridge stock opened at C$60.64 on Tuesday. Enbridge has a 52 week low of C$45.39 and a 52 week high of C$65.62. The business has a 50-day simple moving average of C$62.18 and a 200 day simple moving average of C$58.25. The company has a quick ratio of 0.44, a current ratio of 0.62 and a debt-to-equity ratio of 144.86. The stock has a market cap of C$131.42 billion, a price-to-earnings ratio of 19.71, a PEG ratio of 1.72 and a beta of 0.90.

Enbridge Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Saturday, March 1st will be given a dividend of $0.9425 per share. This is a positive change from Enbridge’s previous quarterly dividend of $0.92. The ex-dividend date is Friday, February 14th. This represents a $3.77 dividend on an annualized basis and a yield of 6.22%. Enbridge’s dividend payout ratio is presently 118.98%.

Insider Buying and Selling at Enbridge

In other Enbridge news, Senior Officer Cynthia Lynn Hansen sold 1,106 shares of the company’s 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 transaction of C$66,293.64. 0.10% of the stock is currently owned by corporate insiders.

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.