Enbridge (TSE:ENB) Price Target Raised to C$67.00

Enbridge (TSE:ENB) (NYSE:ENB) had its price objective lifted by Royal Bank of Canada from C$63.00 to C$67.00 in a research report report published on Tuesday morning,BayStreet.CA reports.

Other equities research analysts have also issued reports about the company. Raymond James upped their price target on Enbridge from C$59.00 to C$63.00 in a research report on Tuesday, November 26th. Wells Fargo & Company lifted their price target on Enbridge from C$57.00 to C$60.00 in a report on Thursday, December 5th. Scotiabank upped their price objective 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. JPMorgan Chase & Co. lifted their target price on shares of Enbridge from C$66.00 to C$69.00 in a research note on Thursday, December 5th. Finally, Morgan Stanley set a C$64.00 price target on shares of Enbridge and gave the stock an “equal weight” rating in a report on Friday, October 25th. Seven 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.com, the stock presently has an average rating of “Hold” and a consensus target price of C$63.23.

Enbridge Stock Down 1.2 %

ENB stock opened at C$59.46 on Tuesday. The stock has a market capitalization of C$128.86 billion, a P/E ratio of 19.33, a P/E/G ratio of 1.72 and a beta of 0.90. Enbridge has a 52 week low of C$45.39 and a 52 week high of C$65.62. The firm has a 50-day simple moving average of C$62.19 and a 200-day simple moving average of C$58.38. The company has a quick ratio of 0.44, a current ratio of 0.62 and a debt-to-equity ratio of 144.86.

Enbridge Increases Dividend

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

Insider Activity at Enbridge

In other Enbridge news, Senior Officer Cynthia Lynn Hansen sold 1,106 shares of the firm’s stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of C$59.94, for a total value of C$66,293.64. 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.