Enbridge (TSE:ENB) Reaches New 12-Month High – Still a Buy?

Enbridge Inc. (TSE:ENB) (NYSE:ENB) shares reached a new 52-week high during trading on Wednesday . The company traded as high as C$64.02 and last traded at C$63.71, with a volume of 1236647 shares. The stock had previously closed at C$63.24.

Analysts Set New Price Targets

Several research analysts have commented on ENB shares. CIBC lifted their price target on Enbridge from C$63.00 to C$66.00 and gave the stock an “outperform” rating in a research report on Thursday, January 9th. BMO Capital Markets lifted their target price on shares of Enbridge from C$59.00 to C$60.00 in a report on Wednesday, December 4th. Royal Bank of Canada increased their price target on shares of Enbridge from C$59.00 to C$63.00 in a research note on Wednesday, December 4th. Raymond James raised their price objective on shares of Enbridge from C$59.00 to C$63.00 in a research report on Tuesday, November 26th. Finally, Barclays upped their target price on shares of Enbridge from C$59.00 to C$64.00 in a report on Monday, January 6th. Eight equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of C$61.69.

Enbridge Stock Up 1.7 %

The firm has a market cap of C$140.35 billion, a price-to-earnings ratio of 24.76, a PEG ratio of 1.72 and a beta of 0.90. 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 firm has a fifty day moving average price of C$60.63 and a 200-day moving average price of C$55.97.

Enbridge Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders 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 annualized dividend and a yield of 5.86%. Enbridge’s payout ratio is 140.77%.

Insider Transactions at Enbridge

In other news, Senior Officer Cynthia Lynn Hansen sold 1,106 shares of the business’s stock in a transaction on Monday, December 23rd. The shares were sold at an average price of C$59.94, for a total transaction of C$66,293.64. 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.