JPMorgan Chase & Co. Increases Enbridge (TSE:ENB) Price Target to C$60.00

Enbridge (TSE:ENB) (NYSE:ENB) had its price objective boosted by JPMorgan Chase & Co. from C$57.00 to C$60.00 in a research note released on Thursday morning, BayStreet.CA reports. JPMorgan Chase & Co. currently has a buy rating on the stock.

A number of other equities research analysts have also weighed in on the stock. Jefferies Financial Group lowered shares of Enbridge from a buy rating to a hold rating and lifted their price objective for the company from C$55.00 to C$58.00 in a report on Monday, September 30th. CIBC lifted their price objective on shares of Enbridge from C$57.00 to C$59.00 in a report on Monday, July 15th. National Bankshares lifted their price objective on shares of Enbridge from C$53.00 to C$57.00 and gave the company a sector perform rating in a report on Friday, August 23rd. Scotiabank lowered shares of Enbridge from a strong-buy rating to a hold rating in a report on Friday, June 14th. Finally, BMO Capital Markets lifted their price objective on shares of Enbridge from C$54.00 to C$56.00 in a report on Thursday, September 5th. Six equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of Hold and an average target price of C$55.25.

Enbridge Stock Up 0.9 %

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

Enbridge (TSE:ENB) (NYSE:ENB) last announced its quarterly earnings results on Friday, August 2nd. The company reported C$0.58 earnings per share (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 during the quarter, compared to the consensus estimate of C$5.86 billion. Sell-side analysts expect that Enbridge will post 3.0366521 EPS for the current fiscal year.

Enbridge Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Thursday, August 15th were given a dividend of $0.915 per share. This represents a $3.66 annualized dividend and a yield of 6.56%. The ex-dividend date was Thursday, August 15th. Enbridge’s dividend payout ratio is presently 140.77%.

Insiders Place Their Bets

In other Enbridge news, Senior Officer Maximilian Chan sold 688 shares of the business’s stock in a transaction that occurred 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. In other Enbridge news, Senior Officer Maximilian Chan sold 688 shares of the business’s stock in a transaction that occurred 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. Also, Director Steven Walter Williams bought 18,600 shares of the company’s stock in a transaction on Tuesday, August 13th. The shares were bought at an average cost of C$53.74 per share, for a total transaction of C$999,564.00. 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.