Enbridge (TSE:ENB) Hits New 52-Week High on Analyst Upgrade

Enbridge Inc. (TSE:ENB) (NYSE:ENB) reached a new 52-week high during trading on Thursday after CIBC raised their price target on the stock from C$63.00 to C$66.00. CIBC currently has an outperform rating on the stock. Enbridge traded as high as C$63.40 and last traded at C$63.30, with a volume of 5970969 shares. The stock had previously closed at C$62.70.

Several other equities research analysts also recently commented on ENB. Raymond James lifted their price objective on Enbridge from C$59.00 to C$63.00 in a report on Tuesday, November 26th. Barclays raised their price target on Enbridge from C$59.00 to C$64.00 in a research note on Monday, January 6th. BMO Capital Markets increased their target price on Enbridge from C$59.00 to C$60.00 in a report on Wednesday, December 4th. Morgan Stanley set a C$64.00 price objective on shares of Enbridge and gave the stock an “equal weight” rating in a research note on Friday, October 25th. Finally, JPMorgan Chase & Co. upped their target price on shares of Enbridge from C$66.00 to C$69.00 in a report on Thursday, December 5th. Eight equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of C$61.33.

Insider Activity

In other news, Senior Officer Cynthia Lynn Hansen sold 1,106 shares of Enbridge stock in a transaction 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.

Enbridge Trading Down 0.4 %

The company has a debt-to-equity ratio of 131.26, a quick ratio of 0.44 and a current ratio of 0.76. The company’s fifty day moving average is C$60.13 and its two-hundred day moving average is C$55.55. The company has a market cap of C$136.77 billion, a price-to-earnings ratio of 24.13, a P/E/G ratio of 1.72 and a beta of 0.90.

Enbridge Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Friday, February 14th will be issued a $0.9425 dividend. This is a boost from Enbridge’s previous quarterly dividend of $0.92. This represents a $3.77 dividend on an annualized basis and a yield of 6.01%. Enbridge’s dividend payout ratio is presently 140.77%.

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.