Enbridge (TSE:ENB) Reaches New 52-Week High – What’s Next?

Enbridge Inc. (TSE:ENB) (NYSE:ENB)’s stock price reached a new 52-week high on Thursday . The company traded as high as C$58.98 and last traded at C$58.77, with a volume of 3342995 shares trading hands. The stock had previously closed at C$57.91.

Wall Street Analyst Weigh In

Several brokerages recently commented on ENB. Wells Fargo & Company raised shares of Enbridge from a “strong sell” rating to a “hold” rating in a research note on Wednesday. Raymond James boosted their price objective on shares of Enbridge from C$54.00 to C$59.00 in a research report on Tuesday, October 22nd. Royal Bank of Canada increased their target price on shares of Enbridge from C$55.00 to C$59.00 and gave the stock an “outperform” rating in a report on Thursday, October 3rd. Morgan Stanley set a C$64.00 price target on Enbridge and gave the company an “equal weight” rating in a research report on Friday, October 25th. Finally, CIBC boosted their price target on shares of Enbridge from C$59.00 to C$67.00 in a research report on Monday. Eight equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Enbridge currently has an average rating of “Hold” and an average price target of C$56.92.

Enbridge Stock Up 1.6 %

The company has a debt-to-equity ratio of 131.26, a current ratio of 0.76 and a quick ratio of 0.44. The stock has a market cap of C$128.21 billion, a PE ratio of 22.64, a PEG ratio of 1.72 and a beta of 0.90. The company has a 50 day moving average price of C$55.70 and a two-hundred day moving average price of C$52.08.

Enbridge Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders of record on Sunday, December 1st will be paid a dividend of $0.915 per share. This represents a $3.66 annualized dividend and a yield of 6.22%. The ex-dividend date is Friday, November 15th. Enbridge’s dividend payout ratio is currently 140.77%.

Insider Activity

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