Brokerages Set Enbridge Inc. (TSE:ENB) PT at C$54.33

Enbridge Inc. (TSE:ENB) (NYSE:ENB) has been given an average recommendation of “Moderate Buy” by the ten brokerages that are covering the company, Marketbeat Ratings reports. Five research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is C$54.33.

Several research analysts have commented on ENB shares. National Bankshares lifted their price target on 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. CIBC boosted their target price on shares of Enbridge from C$57.00 to C$59.00 in a research report on Monday, July 15th. Wells Fargo & Company increased their price target on shares of Enbridge from C$45.00 to C$48.00 in a report on Tuesday, June 4th. JPMorgan Chase & Co. boosted their price objective on shares of Enbridge from C$56.00 to C$57.00 in a report on Wednesday, August 7th. Finally, Scotiabank cut shares of Enbridge from a “strong-buy” rating to a “hold” rating in a research note on Friday, June 14th.

Enbridge Price Performance

TSE ENB opened at C$55.42 on Thursday. Enbridge has a 1 year low of C$42.75 and a 1 year high of C$56.09. The company has a fifty day simple moving average of C$53.24 and a 200 day simple moving average of C$50.36. 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 company has a market cap of C$120.82 billion, a P/E ratio of 21.30, a P/E/G ratio of 0.75 and a beta of 0.90.

Enbridge (TSE:ENB) (NYSE:ENB) last issued its quarterly earnings results on Friday, August 2nd. The company reported C$0.58 earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.62 by C($0.04). The business had revenue of C$11.34 billion during the quarter, compared to analyst estimates of C$5.86 billion. Enbridge had a net margin of 13.54% and a return on equity of 8.57%. On average, sell-side analysts predict that Enbridge will post 3.0459834 EPS for the current year.

Enbridge Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Thursday, August 15th were paid a dividend of $0.915 per share. This represents a $3.66 dividend on an annualized basis and a yield of 6.60%. The ex-dividend date of this dividend was Thursday, August 15th. Enbridge’s dividend payout ratio is 140.77%.

Insider Activity

In related news, Director Steven Walter Williams bought 18,600 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The stock was 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 bought 18,600 shares of Enbridge stock in a transaction dated Tuesday, August 13th. The shares were bought 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 dated Wednesday, September 18th. The stock was sold at an average price of C$55.20, for a total transaction of C$37,977.60. 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.