Enbridge (TSE:ENB) Sets New 52-Week High – Here’s What Happened

Enbridge Inc. (TSE:ENB) (NYSE:ENB) reached a new 52-week high during trading on Thursday . The stock traded as high as C$63.40 and last traded at C$63.30, with a volume of 5970969 shares. The stock had previously closed at C$62.70.

Analyst Ratings Changes

Several brokerages have issued reports on ENB. Scotiabank boosted their price target on Enbridge from C$57.00 to C$61.00 in a research note on Wednesday, December 4th. Wells Fargo & Company boosted their target price on shares of Enbridge from C$57.00 to C$60.00 in a research report on Thursday, December 5th. BMO Capital Markets raised their price target on shares of Enbridge from C$59.00 to C$60.00 in a report on Wednesday, December 4th. Raymond James upped their price objective on shares of Enbridge from C$59.00 to C$63.00 in a report on Tuesday, November 26th. Finally, Morgan Stanley set a C$64.00 target price on Enbridge and gave the company an “equal weight” rating in a research note on Friday, October 25th. Eight investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of C$61.08.

Enbridge Stock Up 1.0 %

The company has a market cap of C$137.99 billion, a P/E ratio of 24.35, a price-to-earnings-growth ratio of 1.72 and a beta of 0.90. The company has a debt-to-equity ratio of 131.26, a current ratio of 0.76 and a quick ratio of 0.44. The stock has a fifty day moving average price of C$59.87 and a two-hundred day moving average price of C$55.33.

Enbridge Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Friday, February 14th will be paid a dividend of $0.9425 per share. This is a boost from Enbridge’s previous quarterly dividend of $0.92. This represents a $3.77 annualized dividend and a yield of 5.96%. Enbridge’s dividend payout ratio (DPR) is 140.77%.

Insider Transactions at Enbridge

In other news, Senior Officer Cynthia Lynn Hansen sold 1,106 shares of the company’s stock in a transaction that occurred 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. Company 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.