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

Shares of Enbridge Inc. (TSE:ENB) (NYSE:ENB) reached a new 52-week low during mid-day trading on Monday . The stock traded as low as C$0.01 and last traded at C$62.31, with a volume of 1311318 shares. The stock had previously closed at C$61.81.

Wall Street Analyst Weigh In

Several research firms recently commented on ENB. Wells Fargo & Company upped their target price on Enbridge from C$57.00 to C$60.00 in a research note on Thursday, December 5th. TD Securities upped their price objective on shares of Enbridge from C$66.00 to C$67.00 and gave the company a “buy” rating in a research note on Tuesday, February 18th. Raymond James increased their price objective on shares of Enbridge from C$65.00 to C$67.00 in a report on Tuesday, February 18th. Barclays boosted their target price on shares of Enbridge from C$59.00 to C$64.00 in a report on Monday, January 6th. Finally, JPMorgan Chase & Co. increased their price target on shares of Enbridge from C$66.00 to C$69.00 in a research note on Thursday, December 5th. Seven equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of C$63.23.

Enbridge Stock Performance

The stock’s 50 day moving average price is C$62.31 and its 200 day moving average price is C$58.78. The company has a current ratio of 0.62, a quick ratio of 0.44 and a debt-to-equity ratio of 144.86. The firm has a market cap of C$134.09 billion, a PE ratio of 20.11, a P/E/G ratio of 1.72 and a beta of 0.90.

Enbridge Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Saturday, March 1st. Shareholders of record on Saturday, March 1st were paid a dividend of $0.9425 per share. This represents a $3.77 dividend on an annualized basis and a dividend yield of 6.09%. The ex-dividend date was Friday, February 14th. This is a boost from Enbridge’s previous quarterly dividend of $0.92. Enbridge’s payout ratio is currently 118.98%.

Insider Transactions at Enbridge

In related news, Senior Officer Cynthia Lynn Hansen sold 1,106 shares of the business’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 transaction of C$66,293.64. Company insiders own 0.10% of the company’s stock.

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.