CIBC Issues Positive Forecast for Enbridge (TSE:ENB) Stock Price

Enbridge (TSE:ENB) (NYSE:ENB) had its price target lifted by CIBC from C$59.00 to C$67.00 in a report published on Monday, BayStreet.CA reports.

Other equities research analysts have also issued reports about the stock. National Bankshares raised their price objective on shares of Enbridge from C$53.00 to C$57.00 and gave the company a “sector perform” rating in a report on Friday, August 23rd. Royal Bank of Canada raised their price objective on shares of Enbridge from C$55.00 to C$59.00 and gave the company an “outperform” rating in a report on Thursday, October 3rd. BMO Capital Markets raised their price objective on shares of Enbridge from C$54.00 to C$56.00 in a report on Thursday, September 5th. Raymond James raised their price objective on shares of Enbridge from C$54.00 to C$59.00 in a report on Tuesday, October 22nd. Finally, Morgan Stanley set a C$64.00 price target on shares of Enbridge and gave the stock an “equal weight” rating in a research note on Friday, October 25th. Seven investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of C$56.92.

Enbridge Stock Performance

Shares of ENB stock opened at C$57.91 on Monday. The company has a quick ratio of 0.44, a current ratio of 0.76 and a debt-to-equity ratio of 131.26. Enbridge has a 52 week low of C$45.05 and a 52 week high of C$58.28. The stock has a market capitalization of C$126.24 billion, a PE ratio of 22.27, a P/E/G ratio of 1.72 and a beta of 0.90. The firm has a 50 day moving average of C$55.70 and a two-hundred day moving average of C$52.08.

Enbridge Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders of record on Sunday, December 1st will be given a dividend of $0.915 per share. This represents a $3.66 annualized dividend and a yield of 6.32%. The ex-dividend date is Friday, November 15th. Enbridge’s payout ratio is currently 140.77%.

Insiders Place Their Bets

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