Enbridge (TSE:ENB) Sets New 52-Week High After Analyst Upgrade

Enbridge Inc. (TSE:ENB) (NYSE:ENB)’s share price reached a new 52-week high during mid-day trading on Thursday after JPMorgan Chase & Co. raised their price target on the stock from C$56.00 to C$57.00. The stock traded as high as C$53.34 and last traded at C$53.28, with a volume of 1867159 shares. The stock had previously closed at C$52.89.

A number of other analysts have also weighed in on the stock. Scotiabank cut Enbridge from a “strong-buy” rating to a “hold” rating in a research note on Friday, June 14th. CIBC lifted their target price on Enbridge from C$57.00 to C$59.00 in a research note on Monday, July 15th. National Bankshares raised their price target on Enbridge from C$52.00 to C$53.00 and gave the stock a “sector perform” rating in a research report on Monday, May 13th. Jefferies Financial Group lifted their target price on Enbridge from C$53.00 to C$55.00 in a report on Monday, May 13th. Finally, Wells Fargo & Company boosted their price target on Enbridge from C$45.00 to C$48.00 in a report on Tuesday, June 4th. Seven equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of C$53.69.

Enbridge Stock Up 0.7 %

The stock has a 50 day moving average price of C$49.46 and a 200 day moving average price of C$48.65. The stock has a market capitalization of C$113.49 billion, a price-to-earnings ratio of 20.17, a price-to-earnings-growth ratio of 0.75 and a beta of 0.88. The company has a quick ratio of 0.44, a current ratio of 0.68 and a debt-to-equity ratio of 130.31.

Enbridge (TSE:ENB) (NYSE:ENB) last announced its earnings results on Friday, May 10th. The company reported C$0.92 EPS for the quarter, beating the consensus estimate of C$0.81 by C$0.11. The business had revenue of C$11.04 billion for the quarter, compared to analysts’ expectations of C$12.24 billion. Enbridge had a return on equity of 8.70% and a net margin of 13.81%. As a group, analysts forecast that Enbridge Inc. will post 2.8613689 EPS for the current year.

Enbridge Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Sunday, September 1st. Investors of record on Thursday, August 15th will be given a $0.915 dividend. This represents a $3.66 dividend on an annualized basis and a yield of 6.87%. The ex-dividend date of this dividend is Thursday, August 15th. Enbridge’s payout ratio is currently 138.64%.

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.