Enbridge Inc. (TSE:ENB) Receives C$75.33 Consensus Price Target from Analysts

Shares of Enbridge Inc. (TSE:ENB) (NYSE:ENB) have been assigned a consensus recommendation of “Moderate Buy” from the twelve analysts that are covering the company, MarketBeat Ratings reports. Seven research analysts have rated the stock with a hold recommendation, four have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is C$75.33.

ENB has been the topic of a number of research reports. Jefferies Financial Group cut shares of Enbridge from a “buy” rating to a “hold” rating and increased their target price for the stock from C$71.00 to C$76.00 in a report on Tuesday, February 17th. Barclays increased their target price on shares of Enbridge from C$68.00 to C$73.00 in a report on Tuesday, April 7th. TD upped their price target on shares of Enbridge from C$73.00 to C$79.00 and gave the stock a “hold” rating in a research report on Tuesday, May 26th. National Bank Financial upped their price target on shares of Enbridge from C$73.00 to C$81.00 and gave the stock a “sector perform” rating in a research report on Monday, June 1st. Finally, TD Securities lowered shares of Enbridge from a “buy” rating to a “hold” rating and upped their price target for the stock from C$70.00 to C$72.00 in a research report on Tuesday, February 17th.

Enbridge Trading Up 0.1%

ENB opened at C$78.98 on Friday. The stock has a market capitalization of C$172.47 billion, a PE ratio of 26.77, a P/E/G ratio of 1.72 and a beta of 0.74. The firm’s fifty day moving average price is C$75.54 and its 200 day moving average price is C$71.07. The company has a debt-to-equity ratio of 168.58, a current ratio of 0.81 and a quick ratio of 0.44. Enbridge has a 12-month low of C$59.68 and a 12-month high of C$80.65.

Enbridge (TSE:ENB) (NYSE:ENB) last posted its quarterly earnings results on Friday, May 8th. The company reported C$0.98 earnings per share (EPS) for the quarter. The firm had revenue of C$22.36 billion for the quarter. Enbridge had a net margin of 9.43% and a return on equity of 11.11%. As a group, research analysts expect that Enbridge will post 3.511912 EPS for the current fiscal year.

Enbridge Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Monday, June 1st were given a dividend of $0.97 per share. The ex-dividend date was Friday, May 15th. This represents a $3.88 annualized dividend and a dividend yield of 4.9%. Enbridge’s dividend payout ratio is currently 128.73%.

Insider Activity

In other news, Director Mayank Mulraj Ashar sold 5,000 shares of the company’s stock in a transaction dated Tuesday, May 19th. The shares were sold at an average price of C$78.08, for a total transaction of C$390,400.00. Following the completion of the transaction, the director owned 45,000 shares in the company, valued at approximately C$3,513,600. This represents a 10.00% decrease in their ownership of the stock. Also, insider Melissa Marie Laforge sold 855 shares of the company’s stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of C$80.16, for a total transaction of C$68,536.80. Following the transaction, the insider owned 7,904 shares of the company’s stock, valued at C$633,584.64. This represents a 9.76% decrease in their position. Insiders have sold 8,855 shares of company stock valued at $695,547 in the last 90 days. Insiders own 0.10% of the company’s stock.

Enbridge Company Profile

At Enbridge, we safely connect millions of people to the energy they rely on every day, fueling quality of life through our North American natural gas, oil and renewable power networks and our growing European offshore wind portfolio. We’re investing in modern energy delivery infrastructure to sustain access to secure, affordable energy and building on more than a century of operating conventional energy infrastructure and two decades of experience in renewable power. We’re advancing new technologies including hydrogen, renewable natural gas, and carbon capture and storage.