Brokerages Set Enbridge Inc. (TSE:ENB) Target Price at C$63.31

Shares of Enbridge Inc. (TSE:ENB) (NYSE:ENB) have been assigned a consensus rating of “Hold” from the eleven analysts that are presently covering the stock, MarketBeat Ratings reports. Seven analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is C$63.31.

Several analysts have recently weighed in on ENB shares. Royal Bank of Canada lifted their target price on Enbridge from C$63.00 to C$67.00 in a research report on Tuesday, February 18th. Raymond James lifted their target price on Enbridge from C$65.00 to C$67.00 in a research note on Tuesday, February 18th. Scotiabank lifted their target price on 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. BMO Capital Markets lifted their target price on Enbridge from C$59.00 to C$60.00 in a research note on Wednesday, December 4th. Finally, Jefferies Financial Group boosted their price target on Enbridge from C$59.00 to C$65.00 in a research note on Thursday, January 30th.

Enbridge Trading Up 0.2 %

ENB stock opened at C$61.52 on Thursday. The firm has a fifty day moving average price of C$62.36 and a 200 day moving average price of C$59.27. Enbridge has a fifty-two week low of C$45.39 and a fifty-two week high of C$65.62. The company has a debt-to-equity ratio of 144.86, a quick ratio of 0.44 and a current ratio of 0.62. The firm has a market cap of C$133.33 billion, a PE ratio of 20.00, a price-to-earnings-growth ratio of 1.72 and a beta of 0.90.

Enbridge Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Saturday, March 1st. Investors of record on Saturday, March 1st were issued a dividend of $0.9425 per share. This represents a $3.77 dividend on an annualized basis and a yield of 6.13%. The ex-dividend date of this dividend was Friday, February 14th. This is a positive change from Enbridge’s previous quarterly dividend of $0.92. Enbridge’s dividend payout ratio is currently 118.98%.

Insider Buying and Selling

In other news, Senior Officer Cynthia Lynn Hansen sold 1,106 shares of the company’s stock in a transaction on Monday, December 23rd. The stock was 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 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.