Analysts Set Enbridge Inc. (TSE:ENB) Target Price at C$55.25

Enbridge Inc. (TSE:ENB) (NYSE:ENB) has received an average rating of “Hold” from the nine analysts that are presently covering the company, Marketbeat.com reports. Six analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is C$55.36.

A number of analysts have recently commented on ENB shares. National Bankshares upped their price target 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. Jefferies Financial Group lowered Enbridge from a “buy” rating to a “hold” rating and boosted their price objective for the company from C$55.00 to C$58.00 in a research report on Monday, September 30th. Royal Bank of Canada boosted their price objective 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. BMO Capital Markets boosted their price objective on Enbridge from C$54.00 to C$56.00 in a research report on Thursday, September 5th. Finally, CIBC boosted their price objective on Enbridge from C$57.00 to C$59.00 in a research report on Monday, July 15th.

Enbridge Stock Performance

Shares of TSE:ENB opened at C$57.97 on Monday. The stock has a market capitalization of C$126.37 billion, a P/E ratio of 22.30, a P/E/G ratio of 1.72 and a beta of 0.90. Enbridge has a 1-year low of C$43.21 and a 1-year high of C$57.98. The company has a current ratio of 0.76, a quick ratio of 0.44 and a debt-to-equity ratio of 131.26. The business has a 50-day moving average price of C$54.80 and a two-hundred day moving average price of C$51.19.

Enbridge (TSE:ENB) (NYSE:ENB) last announced its quarterly earnings data on Friday, August 2nd. The company reported C$0.58 earnings per share for the quarter, missing the consensus estimate of C$0.62 by C($0.04). The firm had revenue of C$11.34 billion for the quarter, compared to the consensus estimate of C$5.86 billion. Enbridge had a return on equity of 8.57% and a net margin of 13.54%. Equities analysts predict that Enbridge will post 3.511912 earnings per share 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 paid a $0.915 dividend. This represents a $3.66 dividend on an annualized basis and a yield of 6.31%. The ex-dividend date was Thursday, August 15th. Enbridge’s dividend payout ratio (DPR) is presently 140.77%.

Insider Activity at Enbridge

In other Enbridge news, Director Steven Walter Williams purchased 18,600 shares of the company’s 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 news, Director Steven Walter Williams acquired 18,600 shares of the stock in a transaction on Tuesday, August 13th. The shares were purchased at an average price of C$53.74 per share, for a total transaction of C$999,564.00. Also, Senior Officer Maximilian Chan sold 688 shares of the stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of C$55.20, for a total value of C$37,977.60. 0.10% of the stock is owned by company 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.