Enbridge Inc. (TSE:ENB) Receives C$73.31 Average Target Price from Analysts

Shares of Enbridge Inc. (TSE:ENB) (NYSE:ENB) have earned a consensus rating of “Moderate Buy” from the twelve research firms that are currently covering the stock, Marketbeat Ratings reports. Six equities research analysts have rated the stock with a hold recommendation, five have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among brokers that have covered the stock in the last year is C$73.31.

Several brokerages have issued reports on ENB. ATB Cormark Capital Markets lifted their price target on shares of Enbridge from C$72.00 to C$78.00 and gave the company an “outperform” rating in a research note on Tuesday, February 17th. JPMorgan Chase & Co. cut Enbridge from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from C$74.00 to C$69.00 in a report on Tuesday, January 27th. Raymond James Financial upped their target price on Enbridge from C$75.00 to C$77.00 and gave the stock a “moderate buy” rating in a report on Tuesday, February 17th. National Bank Financial raised their price target on Enbridge from C$71.00 to C$72.00 and gave the company a “sector perform” rating in a research note on Tuesday, February 17th. Finally, TD Securities lowered Enbridge from a “buy” rating to a “hold” rating and boosted 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 1.4%

TSE ENB opened at C$72.47 on Thursday. Enbridge has a 52 week low of C$56.51 and a 52 week high of C$73.71. The company has a debt-to-equity ratio of 144.86, a quick ratio of 0.44 and a current ratio of 0.62. The stock’s 50 day moving average price is C$67.11 and its two-hundred day moving average price is C$66.97. The stock has a market capitalization of C$158.12 billion, a price-to-earnings ratio of 22.51, a PEG ratio of 1.72 and a beta of 0.95.

Enbridge (TSE:ENB) (NYSE:ENB) last posted its quarterly earnings data on Friday, February 13th. The company reported C$0.88 earnings per share (EPS) for the quarter. The company had revenue of C$17.18 billion for the quarter. Enbridge had a net margin of 13.75% and a return on equity of 10.30%. As a group, analysts anticipate that Enbridge will post 3.511912 earnings per share for the current fiscal year.

Enbridge Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Sunday, March 1st. Shareholders of record on Sunday, March 1st will be given a dividend of $0.97 per share. This represents a $3.88 annualized dividend and a yield of 5.4%. This is an increase from Enbridge’s previous quarterly dividend of $0.94. The ex-dividend date of this dividend is Tuesday, February 17th. Enbridge’s payout ratio is currently 117.08%.

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.