Enbridge (TSE:ENB) Hits New 1-Year High Following Dividend Announcement

Enbridge Inc. (TSE:ENB) (NYSE:ENB) shares hit a new 52-week high during trading on Tuesday after the company announced a dividend. The stock traded as high as C$61.65 and last traded at C$61.55, with a volume of 1286660 shares traded. The stock had previously closed at C$60.95.

The newly announced dividend which will be paid on Saturday, March 1st. Shareholders of record on Friday, February 14th will be paid a $0.9425 dividend. This is a boost from Enbridge’s previous quarterly dividend of $0.92. This represents a $3.77 annualized dividend and a yield of 6.12%. Enbridge’s payout ratio is presently 140.77%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. National Bankshares boosted their target price 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. JPMorgan Chase & Co. upped their price objective on Enbridge from C$60.00 to C$66.00 in a research note on Thursday, November 21st. Wells Fargo & Company upgraded Enbridge from a “strong sell” rating to a “hold” rating in a research note on Wednesday, November 6th. BMO Capital Markets upped their price objective on Enbridge from C$54.00 to C$56.00 in a research note on Thursday, September 5th. Finally, Morgan Stanley set a C$64.00 price objective on Enbridge and gave the stock an “equal weight” rating in a research note on Friday, October 25th. Eight investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Enbridge has an average rating of “Hold” and a consensus target price of C$58.31.

Enbridge Stock Up 1.1 %

The company has a quick ratio of 0.44, a current ratio of 0.76 and a debt-to-equity ratio of 131.26. The stock has a 50 day simple moving average of C$57.39 and a 200 day simple moving average of C$53.24. The stock has a market cap of C$134.29 billion, a price-to-earnings ratio of 23.44, a PEG ratio of 1.72 and a beta of 0.90.

Insider Buying and Selling at Enbridge

In related news, Senior Officer Maximilian Chan sold 688 shares of Enbridge stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of C$55.20, for a total transaction of C$37,977.60. Insiders own 0.10% of the company’s stock.

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.