Enbridge (TSE:ENB) Price Target Raised to C$67.00

Enbridge (TSE:ENB) (NYSE:ENB) had its target price boosted by CIBC from C$66.00 to C$67.00 in a research report report published on Wednesday morning,BayStreet.CA reports.

ENB has been the subject of several other research reports. Barclays lifted their price objective on shares of Enbridge from C$59.00 to C$64.00 in a research note on Monday, January 6th. Jefferies Financial Group upped their price target on shares of Enbridge from C$59.00 to C$65.00 in a research note on Thursday, January 30th. BMO Capital Markets boosted their price objective on Enbridge from C$59.00 to C$60.00 in a report on Wednesday, December 4th. TD Securities increased their target price on Enbridge from C$66.00 to C$67.00 and gave the company a “buy” rating in a research note on Tuesday, February 18th. Finally, Royal Bank of Canada increased their price target on shares of Enbridge from C$63.00 to C$67.00 in a research report on Tuesday, February 18th. Seven analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of C$63.31.

Enbridge Trading Up 1.4 %

TSE ENB opened at C$60.38 on Wednesday. The business’s fifty day moving average is C$62.35 and its 200 day moving average is C$58.94. Enbridge has a twelve month low of C$45.39 and a twelve month high of C$65.62. The company has a quick ratio of 0.44, a current ratio of 0.62 and a debt-to-equity ratio of 144.86. The company has a market cap of C$130.86 billion, a price-to-earnings ratio of 19.63, a price-to-earnings-growth ratio of 1.72 and a beta of 0.90.

Enbridge Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Saturday, March 1st. Shareholders of record on Saturday, March 1st were given a dividend of $0.9425 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $3.77 dividend on an annualized basis and a yield of 6.24%. This is a boost from Enbridge’s previous quarterly dividend of $0.92. Enbridge’s payout ratio is currently 118.98%.

Insider Activity at Enbridge

In related news, Senior Officer Cynthia Lynn Hansen sold 1,106 shares of the business’s stock in a transaction on Monday, December 23rd. The shares were sold at an average price of C$59.94, for a total value of C$66,293.64. 0.10% of the stock is currently owned by insiders.

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.