Enbridge (TSE:ENB) PT Raised to C$59.00 at Royal Bank of Canada

Enbridge (TSE:ENB) (NYSE:ENB) had its price objective boosted by Royal Bank of Canada from C$55.00 to C$59.00 in a research note issued to investors on Thursday, BayStreet.CA reports. Royal Bank of Canada currently has an outperform rating on the stock.

A number of other brokerages also recently commented on ENB. JPMorgan Chase & Co. boosted their price objective on shares of Enbridge from C$57.00 to C$60.00 and gave the company a buy rating in a research report on Thursday. BMO Capital Markets lifted their target price on shares of Enbridge from C$54.00 to C$56.00 in a research note on Thursday, September 5th. Scotiabank cut shares of Enbridge from a strong-buy rating to a hold rating in a research note on Friday, June 14th. National Bankshares lifted their target price on shares of Enbridge from C$53.00 to C$57.00 and gave the company a sector perform rating in a research note on Friday, August 23rd. Finally, Jefferies Financial Group cut shares of Enbridge from a buy rating to a hold rating and lifted their target price for the company from C$55.00 to C$58.00 in a research note on Monday, September 30th. Six equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, Enbridge has an average rating of Hold and a consensus price target of C$55.25.

Enbridge Stock Performance

Shares of ENB opened at C$55.76 on Thursday. The company’s 50 day moving average price is C$54.05 and its 200 day moving average price is C$50.75. Enbridge has a 52 week low of C$42.87 and a 52 week high of C$56.09. The company has a market capitalization of C$121.56 billion, a PE ratio of 21.45, a PEG ratio of 0.75 and a beta of 0.90. The company has a debt-to-equity ratio of 131.26, a quick ratio of 0.44 and a current ratio of 0.76.

Enbridge (TSE:ENB) (NYSE:ENB) last announced its quarterly earnings data on Friday, August 2nd. The company reported C$0.58 EPS for the quarter, missing analysts’ consensus estimates of C$0.62 by C($0.04). Enbridge had a net margin of 13.54% and a return on equity of 8.57%. The company had revenue of C$11.34 billion for the quarter, compared to analysts’ expectations of C$5.86 billion. Research analysts expect that Enbridge will post 3.0366521 EPS for the current fiscal year.

Enbridge Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Thursday, August 15th were paid a $0.915 dividend. This represents a $3.66 dividend on an annualized basis and a dividend yield of 6.56%. The ex-dividend date of this dividend was Thursday, August 15th. Enbridge’s payout ratio is 140.77%.

Insider Transactions at Enbridge

In other news, Senior Officer Maximilian Chan sold 688 shares of the business’s stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of C$55.20, for a total value of C$37,977.60. In related news, Director Steven Walter Williams bought 18,600 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The stock was purchased at an average cost of C$53.74 per share, for a total transaction of C$999,564.00. Also, Senior Officer Maximilian Chan sold 688 shares of the company’s stock in a transaction on 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 owned by corporate 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.