Enbridge (TSE:ENB) Reaches New 12-Month High – Here’s What Happened

Enbridge Inc. (TSE:ENB) (NYSE:ENB) reached a new 52-week high on Tuesday . The stock traded as high as C$64.68 and last traded at C$64.57, with a volume of 200917 shares trading hands. The stock had previously closed at C$63.93.

Analysts Set New Price Targets

Several analysts have recently commented on ENB shares. Wells Fargo & Company increased their price target on shares of Enbridge from C$57.00 to C$60.00 in a research report on Thursday, December 5th. Scotiabank boosted their price target on Enbridge from C$57.00 to C$61.00 in a report on Wednesday, December 4th. TD Securities set a C$66.00 price objective on Enbridge and gave the company a “buy” rating in a research note on Wednesday, January 15th. Morgan Stanley set a C$64.00 target price on shares of Enbridge and gave the company an “equal weight” rating in a research note on Friday, October 25th. Finally, CIBC raised their price target on shares of Enbridge from C$63.00 to C$66.00 and gave the stock an “outperform” rating in a research note on Thursday, January 9th. Seven investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, Enbridge presently has an average rating of “Hold” and an average price target of C$61.69.

Enbridge Stock Down 0.9 %

The stock has a market capitalization of C$140.39 billion, a price-to-earnings ratio of 24.77, a PEG ratio of 1.72 and a beta of 0.90. The firm’s fifty day moving average is C$61.06 and its 200-day moving average is C$56.42. The company has a debt-to-equity ratio of 131.26, a current ratio of 0.76 and a quick ratio of 0.44.

Enbridge (TSE:ENB) (NYSE:ENB) last released its quarterly earnings data on Friday, November 1st. The company reported C$0.55 EPS for the quarter, missing analysts’ consensus estimates of C$0.56 by C($0.01). Enbridge had a return on equity of 8.57% and a net margin of 13.54%. During the same quarter last year, the company posted $0.62 earnings per share. On average, sell-side analysts predict that Enbridge Inc. will post 3.511912 earnings per share for the current year.

Enbridge Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Friday, February 14th will be paid a dividend of $0.9425 per share. This is an increase from Enbridge’s previous quarterly dividend of $0.92. This represents a $3.77 dividend on an annualized basis and a yield of 5.85%. Enbridge’s dividend payout ratio is presently 140.77%.

Insider Transactions at Enbridge

In other Enbridge news, Senior Officer Cynthia Lynn Hansen sold 1,106 shares of the business’s 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. 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.