Enbridge (TSE:ENB) PT Raised to C$56.00 at Royal Bank of Canada

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Enbridge (TSE:ENB) (NYSE:ENB) had its target price boosted by Royal Bank of Canada from C$54.00 to C$56.00 in a report issued on Monday, BayStreet.CA reports. They currently have an outperform rating on the stock.

ENB has been the topic of several other research reports. GMP Securities decreased their price target on shares of Enbridge from C$60.00 to C$59.00 in a research report on Tuesday, August 6th. CIBC decreased their price target on shares of Enbridge from C$57.00 to C$56.00 in a research report on Wednesday, October 23rd. BMO Capital Markets lifted their price target on shares of Enbridge from C$54.00 to C$55.00 in a research report on Monday, September 9th. US Capital Advisors restated an overweight rating on shares of Enbridge in a research report on Friday, October 25th. Finally, Citigroup lifted their price target on shares of Enbridge from C$46.00 to C$51.00 in a research report on Thursday, November 7th. One research analyst has rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Enbridge presently has an average rating of Buy and a consensus price target of C$55.10.

Enbridge stock traded down C$0.63 during mid-day trading on Monday, hitting C$50.00. The company’s stock had a trading volume of 4,025,298 shares, compared to its average volume of 4,850,400. The company has a quick ratio of 0.51, a current ratio of 0.63 and a debt-to-equity ratio of 92.29. The stock has a market capitalization of $102.48 billion and a P/E ratio of 20.40. Enbridge has a twelve month low of C$39.69 and a twelve month high of C$51.38. The stock’s fifty day moving average price is C$47.66 and its two-hundred day moving average price is C$47.09.

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders of record on Friday, November 15th will be given a dividend of $0.738 per share. This represents a $2.95 annualized dividend and a yield of 5.90%. The ex-dividend date of this dividend is Thursday, November 14th. Enbridge’s payout ratio is 117.71%.

In other Enbridge news, Senior Officer Bradley Francis Shamla sold 2,537 shares of Enbridge stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of C$47.30, for a total transaction of C$120,000.10. Following the transaction, the insider now directly owns 46,035 shares in the company, valued at approximately C$2,177,455.50.

Enbridge Company Profile

Enbridge Inc operates as an energy infrastructure company in Canada and the United States. The company operates through five segments: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution, Green Power and Transmission, and Energy Services. The Liquids Pipelines segment operates common carrier and contract crude oil, natural gas liquids (NGL), and refined products pipelines and terminals.

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