JPMorgan Chase & Co. Increases Enbridge (TSE:ENB) Price Target to C$66.00

Enbridge (TSE:ENB) (NYSE:ENB) had its price objective raised by JPMorgan Chase & Co. from C$60.00 to C$66.00 in a research report report published on Thursday,BayStreet.CA reports.

Other analysts have also recently issued reports about the stock. Wells Fargo & Company raised shares of Enbridge from a “strong sell” rating to a “hold” rating in a report on Wednesday, November 6th. Raymond James raised their price objective on shares of Enbridge from C$54.00 to C$59.00 in a research report on Tuesday, October 22nd. CIBC raised their price objective on shares of Enbridge from C$59.00 to C$67.00 in a research report on Monday, November 4th. Morgan Stanley set a C$64.00 price objective on shares of Enbridge and gave the company an “equal weight” rating in a research report on Friday, October 25th. Finally, 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 research report on Thursday, October 3rd. Eight investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of C$58.00.

Enbridge Stock Up 1.6 %

Shares of ENB stock opened at C$60.79 on Thursday. Enbridge has a 12 month low of C$45.05 and a 12 month high of C$60.82. The stock has a market cap of C$132.52 billion, a P/E ratio of 23.38, a P/E/G ratio of 1.72 and a beta of 0.90. The company has a current ratio of 0.76, a quick ratio of 0.44 and a debt-to-equity ratio of 131.26. The company has a 50 day simple moving average of C$56.78 and a two-hundred day simple moving average of C$52.84.

Enbridge Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders of record on Friday, November 15th will be paid a $0.915 dividend. The ex-dividend date is Friday, November 15th. This represents a $3.66 dividend on an annualized basis and a dividend yield of 6.02%. Enbridge’s payout ratio is currently 140.77%.

Insiders Place Their Bets

In other Enbridge news, Senior Officer Maximilian Chan sold 688 shares of Enbridge 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. Corporate insiders own 0.10% of the company’s stock.

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.