Enbridge (TSE:ENB) PT Set at C$75.00 by Citigroup

Citigroup set a C$75.00 price objective on Enbridge (TSE:ENB) (NYSE:ENB) in a research note released on Friday,BayStreet.CA reports. The brokerage currently has a buy rating on the stock.

Several other equities research analysts have also commented on the stock. Scotiabank increased their price objective on shares of Enbridge from C$61.00 to C$65.00 and gave the company a “sector perform” rating in a research note on Thursday, February 13th. Jefferies Financial Group increased their price target on Enbridge from C$59.00 to C$65.00 in a research report on Thursday, January 30th. Barclays boosted their price objective on Enbridge from C$59.00 to C$64.00 in a research report on Monday, January 6th. Raymond James raised their target price on Enbridge from C$65.00 to C$67.00 in a research report on Tuesday, February 18th. Finally, Royal Bank of Canada boosted their price target on shares of Enbridge from C$63.00 to C$67.00 in a report on Tuesday, February 18th. Seven research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of C$64.14.

Enbridge Stock Performance

TSE ENB opened at C$61.74 on Friday. The company has a fifty day moving average price of C$62.27 and a 200-day moving average price of C$60.17. The firm has a market cap of C$133.80 billion, a price-to-earnings ratio of 20.07, a PEG ratio of 1.72 and a beta of 0.90. The company has a debt-to-equity ratio of 144.86, a current ratio of 0.62 and a quick ratio of 0.44. Enbridge has a 1 year low of C$45.39 and a 1 year high of C$65.62.

Enbridge Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Saturday, March 1st. Stockholders of record on Saturday, March 1st were given a $0.9425 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $3.77 annualized dividend and a dividend yield of 6.11%. This is a positive change from Enbridge’s previous quarterly dividend of $0.92. Enbridge’s payout ratio is 118.98%.

Insider Activity at Enbridge

In other Enbridge news, Senior Officer Matthew Allan Akman bought 1,000 shares of the stock in a transaction on Friday, March 14th. The shares were acquired at an average price of C$61.24 per share, with a total value of C$61,240.00. Also, Senior Officer Michele Eva Harradence bought 5,857 shares of the company’s stock in a transaction on Wednesday, March 19th. The shares were bought at an average price of C$62.53 per share, for a total transaction of C$366,238.21. 0.10% of the stock is currently owned by corporate insiders.

About Enbridge

Enbridge owns extensive midstream assets that transport hydrocarbons across the U.S. and Canada. Its pipeline network consists of the Canadian Mainline system, regional oil sands pipelines, and natural gas pipelines. The company also owns and operates a regulated natural gas utility and Canada’s largest natural gas distribution company.