Enbridge (TSE:ENB) PT Set at C$75.00 by Citigroup

Citigroup set a C$75.00 price objective on Enbridge (TSE:ENB) (NYSE:ENB) in a report released on Friday,BayStreet.CA reports. The firm currently has a buy rating on the stock.

Several other brokerages have also issued reports on ENB. JPMorgan Chase & Co. boosted their price objective on Enbridge from C$66.00 to C$69.00 in a research report on Thursday, December 5th. Scotiabank upped their price target on shares of Enbridge from C$61.00 to C$65.00 and gave the company a “sector perform” rating in a report on Thursday, February 13th. TD Securities raised their price objective on shares of Enbridge from C$66.00 to C$67.00 and gave the stock a “buy” rating in a report on Tuesday, February 18th. Barclays upped their target price on shares of Enbridge from C$59.00 to C$64.00 in a research note on Monday, January 6th. Finally, Raymond James lifted their price target on Enbridge from C$65.00 to C$67.00 in a research note on Tuesday, February 18th. Seven analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of C$64.14.

Enbridge Stock Performance

ENB stock opened at C$61.74 on Friday. Enbridge has a 1-year low of C$45.39 and a 1-year high of C$65.62. The company has a current ratio of 0.62, a quick ratio of 0.44 and a debt-to-equity ratio of 144.86. The firm has a market cap of C$133.80 billion, a PE ratio of 20.07, a P/E/G ratio of 1.72 and a beta of 0.90. The business’s 50-day moving average price is C$62.27 and its two-hundred day moving average price is C$60.24.

Enbridge Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Saturday, March 1st. Shareholders of record on Saturday, March 1st were given a dividend of $0.9425 per share. This is a positive change from Enbridge’s previous quarterly dividend of $0.92. The ex-dividend date of this dividend was Friday, February 14th. This represents a $3.77 annualized dividend and a dividend yield of 6.11%. Enbridge’s payout ratio is 118.98%.

Insider Transactions at Enbridge

In other news, Senior Officer Matthew Allan Akman acquired 1,000 shares of the stock in a transaction dated Friday, March 14th. The shares were bought at an average cost of C$61.24 per share, for a total transaction of C$61,240.00. Also, Senior Officer Michele Eva Harradence bought 5,857 shares of the business’s stock in a transaction that occurred on Wednesday, March 19th. The stock was purchased at an average price of C$62.53 per share, with a total value of C$366,238.21. Company insiders own 0.10% of the company’s stock.

Enbridge Company Profile

Enbridge owns extensive midstream assets that transport hydrocarbons across the U.S. and Canada. Its pipeline network consists of the Canadian Mainline system, regional oil sands pipelines, and natural gas pipelines. The company also owns and operates a regulated natural gas utility and Canada’s largest natural gas distribution company.