Enbridge (TSE:ENB) Sets New 52-Week High – Still a Buy?

Enbridge Inc. (TSE:ENB) (NYSE:ENB)’s share price hit a new 52-week high on Thursday . The stock traded as high as C$60.14 and last traded at C$59.96, with a volume of 143775 shares. The stock had previously closed at C$59.53.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on ENB shares. Jefferies Financial Group lowered Enbridge from a “buy” rating to a “hold” rating and upped their price target for the company from C$55.00 to C$58.00 in a research report on Monday, September 30th. JPMorgan Chase & Co. upped their target price on Enbridge from C$57.00 to C$60.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. Raymond James lifted their price target on Enbridge from C$54.00 to C$59.00 in a report on Tuesday, October 22nd. Morgan Stanley set a C$64.00 price objective on shares of Enbridge and gave the company an “equal weight” rating in a report on Friday, October 25th. Finally, National Bankshares raised their price objective on shares of 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. Eight analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of C$57.54.

Enbridge Trading Down 2.0 %

The company has a quick ratio of 0.44, a current ratio of 0.76 and a debt-to-equity ratio of 131.26. The business has a 50-day simple moving average of C$56.37 and a 200-day simple moving average of C$52.53. The company has a market cap of C$129.49 billion, a PE ratio of 22.82, a price-to-earnings-growth ratio of 1.72 and a beta of 0.90.

Enbridge Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Investors of record on Friday, November 15th will be issued a $0.915 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $3.66 annualized dividend and a dividend yield of 6.16%. Enbridge’s dividend payout ratio is presently 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 that occurred on Wednesday, September 18th. The shares were sold at an average price of C$55.20, for a total value of C$37,977.60. 0.10% of the stock is currently owned by company insiders.

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.