Enbridge (TSE:ENB) Price Target Increased to C$59.00 by Analysts at Raymond James

Enbridge (TSE:ENB) (NYSE:ENB) had its price target increased by Raymond James from C$54.00 to C$59.00 in a research report sent to investors on Tuesday morning, BayStreet.CA reports.

Other equities analysts have also recently issued research reports about the company. JPMorgan Chase & Co. boosted their target price on Enbridge from C$57.00 to C$60.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. Jefferies Financial Group cut Enbridge from a “buy” rating to a “hold” rating and increased their price objective for the stock from C$55.00 to C$58.00 in a research report on Monday, September 30th. BMO Capital Markets boosted their target price on shares of Enbridge from C$54.00 to C$56.00 in a research report on Thursday, September 5th. National Bankshares increased their price target on shares of Enbridge from C$53.00 to C$57.00 and gave the company a “sector perform” rating in a report on Friday, August 23rd. Finally, CIBC boosted their price objective on shares of Enbridge from C$57.00 to C$59.00 in a report on Monday, July 15th. Seven research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of C$56.31.

Enbridge Stock Performance

TSE:ENB opened at C$56.93 on Tuesday. The company has a debt-to-equity ratio of 131.26, a current ratio of 0.76 and a quick ratio of 0.44. The firm has a market cap of C$124.11 billion, a price-to-earnings ratio of 21.91, a price-to-earnings-growth ratio of 1.72 and a beta of 0.90. The firm’s fifty day moving average price is C$55.09 and its 200 day moving average price is C$51.46. Enbridge has a 1-year low of C$43.46 and a 1-year high of C$58.28.

Enbridge (TSE:ENB) (NYSE:ENB) last issued 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 analysts’ expectations of C$5.86 billion. On average, sell-side analysts expect that Enbridge will post 3.511912 EPS for the current year.

Enbridge Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Thursday, August 15th were given a $0.915 dividend. The ex-dividend date was Thursday, August 15th. This represents a $3.66 annualized dividend and a dividend yield of 6.43%. Enbridge’s dividend payout ratio is presently 140.77%.

Insider Buying and Selling

In related news, Director Steven Walter Williams bought 18,600 shares of the stock in a transaction on Tuesday, August 13th. The shares were purchased at an average price of C$53.74 per share, for a total transaction of C$999,564.00. In related news, Senior Officer Maximilian Chan sold 688 shares of the company’s stock in a transaction that occurred 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. Also, Director Steven Walter Williams purchased 18,600 shares of Enbridge stock in a transaction on Tuesday, August 13th. The shares were acquired at an average cost of C$53.74 per share, for a total transaction of C$999,564.00. Insiders own 0.10% of the company’s stock.

Enbridge Company Profile

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.