Enbridge (TSE:ENB) Price Target Raised to C$63.00

Enbridge (TSE:ENB) (NYSE:ENB) had its price target upped by CIBC from C$61.00 to C$63.00 in a research report sent to investors on Wednesday morning,BayStreet.CA reports.

A number of other research analysts have also commented on the company. Royal Bank of Canada raised their price target on Enbridge from C$59.00 to C$63.00 in a report on Wednesday. Barclays increased their price target on Enbridge from C$54.00 to C$59.00 in a research report on Monday, November 11th. National Bankshares raised their price objective on Enbridge from C$53.00 to C$57.00 and gave the stock a “sector perform” rating in a research report on Friday, August 23rd. Jefferies Financial Group downgraded Enbridge from a “buy” rating to a “hold” rating and raised their price target for the stock from C$55.00 to C$58.00 in a research note on Monday, September 30th. Finally, BMO Capital Markets raised their price target on Enbridge from C$54.00 to C$56.00 in a research note on Thursday, September 5th. Eight research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of C$60.31.

Enbridge Stock Performance

ENB stock opened at C$61.05 on Wednesday. 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 firm has a market cap of C$133.09 billion, a P/E ratio of 23.48, a P/E/G ratio of 1.72 and a beta of 0.90. Enbridge has a 12-month low of C$45.05 and a 12-month high of C$61.99. The stock’s 50 day simple moving average is C$57.88 and its 200 day simple moving average is C$53.49.

Enbridge Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Friday, February 14th will be issued a dividend of $0.9425 per share. This represents a $3.77 annualized dividend and a dividend yield of 6.18%. This is a positive change from Enbridge’s previous quarterly dividend of $0.92. Enbridge’s dividend payout ratio (DPR) is presently 140.77%.

Insider Transactions at Enbridge

In other news, Senior Officer Maximilian Chan sold 688 shares of Enbridge stock in a transaction that occurred on Wednesday, September 18th. The stock was 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 insiders.

About Enbridge

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.