Raymond James Forecasts Strong Price Appreciation for Enbridge (TSE:ENB) Stock

Enbridge (TSE:ENB) (NYSE:ENB) had its target price upped by Raymond James from C$65.00 to C$67.00 in a report released on Tuesday morning,BayStreet.CA reports.

Other analysts have also issued research reports about the stock. JPMorgan Chase & Co. raised their price objective on shares of Enbridge from C$66.00 to C$69.00 in a report on Thursday, December 5th. Jefferies Financial Group lifted their price objective on Enbridge from C$59.00 to C$65.00 in a research report on Thursday, January 30th. Morgan Stanley set a C$64.00 target price on Enbridge and gave the stock an “equal weight” rating in a report on Friday, October 25th. Wells Fargo & Company raised their target price on Enbridge from C$57.00 to C$60.00 in a research note on Thursday, December 5th. Finally, Scotiabank increased their price objective on shares of Enbridge from C$61.00 to C$65.00 and gave the stock a “sector perform” rating in a report on Thursday, February 13th. Seven investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of C$63.23.

Enbridge Stock Down 1.2 %

ENB opened at C$59.46 on Tuesday. The firm has a market cap of C$128.86 billion, a price-to-earnings ratio of 19.33, a PEG ratio of 1.72 and a beta of 0.90. The company has a debt-to-equity ratio of 144.86, a quick ratio of 0.44 and a current ratio of 0.62. The firm’s 50-day simple moving average is C$62.19 and its 200-day simple moving average is C$58.38. Enbridge has a twelve month low of C$45.39 and a twelve month high of C$65.62.

Enbridge Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Saturday, March 1st will be given a dividend of $0.9425 per share. This is a boost from Enbridge’s previous quarterly dividend of $0.92. The ex-dividend date of this dividend is Friday, February 14th. This represents a $3.77 annualized dividend and a dividend yield of 6.34%. Enbridge’s payout ratio is presently 118.98%.

Insider Transactions at Enbridge

In related news, Senior Officer Cynthia Lynn Hansen sold 1,106 shares of the company’s stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of C$59.94, for a total value of C$66,293.64. 0.10% of the stock is owned by corporate insiders.

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.