Enbridge (TSE:ENB) Price Target Raised to C$61.00

Enbridge (TSE:ENB) (NYSE:ENB) had its price target raised by Scotiabank from C$57.00 to C$61.00 in a report published on Wednesday,BayStreet.CA reports.

Several other research firms have also commented on ENB. National Bankshares upped 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. Morgan Stanley set a C$64.00 price objective on Enbridge and gave the stock an “equal weight” rating in a research report on Friday, October 25th. Raymond James upped their price objective on Enbridge from C$59.00 to C$63.00 in a research report on Tuesday, November 26th. Wells Fargo & Company upgraded Enbridge from a “strong sell” rating to a “hold” rating in a research report on Wednesday, November 6th. Finally, CIBC increased their target price on Enbridge from C$59.00 to C$67.00 in a research report on Monday, November 4th. Eight equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of C$60.31.

Enbridge Price Performance

Shares of TSE:ENB opened at C$61.05 on Wednesday. Enbridge has a twelve month low of C$45.05 and a twelve month high of C$61.99. The company’s 50 day moving average is C$57.88 and its 200 day moving average is C$53.49. 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 market cap of C$133.09 billion, a PE ratio of 23.48, a price-to-earnings-growth ratio of 1.72 and a beta of 0.90.

Enbridge Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Friday, February 14th will be paid a $0.9425 dividend. This is an increase from Enbridge’s previous quarterly dividend of $0.92. This represents a $3.77 annualized dividend and a yield of 6.18%. Enbridge’s dividend payout ratio is currently 140.77%.

Insider Activity at Enbridge

In other Enbridge news, Senior Officer Maximilian Chan sold 688 shares of the firm’s stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of C$55.20, for a total value of C$37,977.60. 0.10% of the stock is owned by corporate 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.