Enbridge (TSE:ENB) Hits New 52-Week High After Analyst Upgrade

Enbridge Inc. (TSE:ENB) (NYSE:ENB) shares hit a new 52-week high on Thursday after CIBC raised their price target on the stock from C$63.00 to C$66.00. CIBC currently has an outperform rating on the stock. Enbridge traded as high as C$63.40 and last traded at C$63.30, with a volume of 5970969 shares trading hands. The stock had previously closed at C$62.70.

Several other brokerages also recently issued reports on ENB. Royal Bank of Canada raised their price objective on shares of Enbridge from C$59.00 to C$63.00 in a research report on Wednesday, December 4th. Raymond James upped their price objective on Enbridge from C$59.00 to C$63.00 in a research report on Tuesday, November 26th. Barclays lifted their price objective on Enbridge from C$59.00 to C$64.00 in a research report on Monday, January 6th. JPMorgan Chase & Co. upped their target price on shares of Enbridge from C$66.00 to C$69.00 in a report on Thursday, December 5th. Finally, BMO Capital Markets lifted their price target on shares of Enbridge from C$59.00 to C$60.00 in a report on Wednesday, December 4th. Eight research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of C$61.33.

Insiders Place Their Bets

In other Enbridge news, Senior Officer Cynthia Lynn Hansen sold 1,106 shares of the business’s stock in a transaction dated Monday, December 23rd. The shares were 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 Stock Performance

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 company has a fifty day moving average of C$60.13 and a 200 day moving average of C$55.55. The stock has a market cap of C$136.77 billion, a P/E ratio of 24.13, a PEG ratio of 1.72 and a beta of 0.90.

Enbridge Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Friday, February 14th will be given a dividend of $0.9425 per share. This represents a $3.77 dividend on an annualized basis and a dividend yield of 6.01%. This is an increase from Enbridge’s previous quarterly dividend of $0.92. Enbridge’s dividend payout ratio is 140.77%.

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.