Enbridge (TSE:ENB) PT Raised to C$57.00 at CIBC

Enbridge (TSE:ENB) (NYSE:ENB) had its price objective raised by CIBC from C$55.00 to C$57.00 in a research report sent to investors on Tuesday morning, BayStreet.CA reports.

ENB has been the subject of several other reports. Tudor Pickering & Holt set a C$53.00 price objective on shares of Enbridge and gave the company a buy rating in a report on Tuesday, December 7th. Morgan Stanley lowered shares of Enbridge to a hold rating and set a C$60.00 target price for the company. in a research report on Friday, January 7th. UBS Group restated a buy rating and set a C$54.00 target price on shares of Enbridge in a research report on Tuesday, November 30th. TD Securities set a C$57.00 target price on shares of Enbridge and gave the company a buy rating in a research report on Monday, November 29th. Finally, National Bankshares boosted their target price on shares of Enbridge from C$51.00 to C$54.00 and gave the company an outperform rating in a research report on Monday, November 8th. Five equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, Enbridge presently has a consensus rating of Buy and an average target price of C$55.26.

Shares of Enbridge stock opened at C$52.30 on Tuesday. The company has a debt-to-equity ratio of 109.97, a quick ratio of 0.42 and a current ratio of 0.55. The stock has a market capitalization of C$105.96 billion and a PE ratio of 18.42. Enbridge has a 52-week low of C$42.78 and a 52-week high of C$54.00. The company has a 50-day simple moving average of C$49.71 and a two-hundred day simple moving average of C$50.13.

Enbridge (TSE:ENB) (NYSE:ENB) last released its quarterly earnings data on Friday, November 5th. The company reported C$0.59 earnings per share for the quarter, beating the consensus estimate of C$0.57 by C$0.02. The company had revenue of C$11.47 billion for the quarter. As a group, equities research analysts forecast that Enbridge will post 3.0800001 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 1st. Shareholders of record on Tuesday, February 15th will be given a dividend of $0.86 per share. This represents a $3.44 annualized dividend and a dividend yield of 6.58%. The ex-dividend date is Monday, February 14th. This is a positive change from Enbridge’s previous quarterly dividend of $0.84. Enbridge’s payout ratio is 116.73%.

In other news, Senior Officer Byron Craig Neiles sold 3,845 shares of the stock in a transaction on Monday, December 20th. The stock was sold at an average price of C$47.73, for a total transaction of C$183,521.85. Following the completion of the sale, the insider now owns 125,659 shares in the company, valued at approximately C$5,997,704.07. Also, Director Albert Monaco sold 5,273 shares of the company’s stock in a transaction on Monday, December 13th. The shares were sold at an average price of C$48.12, for a total value of C$253,736.76. Following the completion of the transaction, the director now directly owns 947,719 shares in the company, valued at C$45,604,238.28. Insiders have sold 11,828 shares of company stock valued at $567,691 in the last 90 days.

About Enbridge

Enbridge Inc 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.

Further Reading: Golden Cross

Analyst Recommendations for Enbridge (TSE:ENB)

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