JPMorgan Chase & Co. Raises Enbridge (TSE:ENB) Price Target to C$60.00

Enbridge (TSE:ENB) (NYSE:ENB) had its target price increased by JPMorgan Chase & Co. from C$57.00 to C$60.00 in a research note issued to investors on Thursday, BayStreet.CA reports. They currently have a buy rating on the stock.

Other research analysts also recently issued research reports about the stock. BMO Capital Markets upped their price objective on shares of Enbridge from C$54.00 to C$56.00 in a research note on Thursday, September 5th. Jefferies Financial Group downgraded shares of Enbridge from a buy rating to a hold rating and increased their price target for the stock from C$55.00 to C$58.00 in a research note on Monday, September 30th. National Bankshares boosted their price objective on shares of Enbridge from C$53.00 to C$57.00 and gave the company a sector perform rating in a research note on Friday, August 23rd. CIBC boosted their price objective on shares of Enbridge from C$57.00 to C$59.00 in a research note on Monday, July 15th. Finally, Scotiabank cut shares of Enbridge from a strong-buy rating to a hold rating in a research note on Friday, June 14th. Six equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of Hold and a consensus target price of C$55.25.

Enbridge Trading Up 0.9 %

Shares of ENB stock opened at C$55.76 on Thursday. The firm has a 50-day moving average price of C$54.05 and a 200 day moving average price of C$50.73. Enbridge has a twelve month low of C$42.87 and a twelve month high of C$56.09. The company has a market capitalization of C$121.56 billion, a price-to-earnings ratio of 21.45, a PEG ratio of 0.75 and a beta of 0.90. The company has a current ratio of 0.76, a quick ratio of 0.44 and a debt-to-equity ratio of 131.26.

Enbridge (TSE:ENB) (NYSE:ENB) last announced its earnings results on Friday, August 2nd. The company reported C$0.58 earnings per share for the quarter, missing the consensus estimate of C$0.62 by C($0.04). Enbridge had a net margin of 13.54% and a return on equity of 8.57%. The firm had revenue of C$11.34 billion during the quarter, compared to analyst estimates of C$5.86 billion. Research analysts forecast that Enbridge will post 3.0366521 earnings per share for the current fiscal year.

Enbridge Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Thursday, August 15th were issued a dividend of $0.915 per share. The ex-dividend date was Thursday, August 15th. This represents a $3.66 annualized dividend and a dividend yield of 6.56%. Enbridge’s payout ratio is 140.77%.

Insider Activity at Enbridge

In related news, Senior Officer Maximilian Chan sold 688 shares of Enbridge stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of C$55.20, for a total transaction of C$37,977.60. In other Enbridge news, Senior Officer Maximilian Chan sold 688 shares of the business’s stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of C$55.20, for a total value of C$37,977.60. Also, Director Steven Walter Williams acquired 18,600 shares of the business’s stock in a transaction on Tuesday, August 13th. The stock was purchased at an average price of C$53.74 per share, for a total transaction of C$999,564.00. Company 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.