Enbridge Inc. (TSE:ENB) Stock Has Consensus Target Price of C$77.62

Enbridge Inc. (TSE:ENB) (NYSE:ENB) has earned a consensus recommendation of “Moderate Buy” from the thirteen analysts that are currently covering the firm, Marketbeat reports. Four equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating on the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is C$77.62.

ENB has been the subject of a number of recent research reports. Jefferies Financial Group decreased their target price on Enbridge from C$79.00 to C$70.00 in a research report on Tuesday, September 1st. Scotiabank upgraded Enbridge to a “strong-buy” rating in a research note on Thursday, September 17th. ATB Cormark Capital Markets upped their price target on Enbridge from C$83.00 to C$84.00 and gave the company an “outperform” rating in a research report on Tuesday, September 15th. National Bank Financial upgraded Enbridge from a “sector perform” rating to an “outperform” rating and increased their price target for the stock from C$81.00 to C$82.00 in a research note on Tuesday, September 15th. Finally, The Goldman Sachs Group upgraded Enbridge to a “hold” rating in a research note on Wednesday, September 30th.

Insider Activity

In other Enbridge news, Director Gregory Lorne Ebel bought 7,105 shares of the business’s stock in a transaction on Monday, September 14th. The stock was purchased at an average price of C$66.85 per share, for a total transaction of C$474,969.25. Following the completion of the transaction, the director directly owned 589,721 shares of the company’s stock, valued at C$39,422,848.85. This trade represents a 1.22% increase in their ownership of the stock. Also, insider Michele Eva Harradence bought 7,105 shares of Enbridge stock in a transaction dated Monday, September 14th. The stock was acquired at an average price of C$67.28 per share, with a total value of C$478,024.40. Following the purchase, the insider directly owned 87,467 shares of the company’s stock, valued at approximately C$5,884,779.76. This represents a 8.84% increase in their ownership of the stock. 0.10% of the stock is owned by corporate insiders.

Enbridge Stock Performance

Shares of ENB stock opened at C$66.51 on Friday. The company has a quick ratio of 0.44, a current ratio of 0.72 and a debt-to-equity ratio of 171.59. The firm has a market cap of C$148.24 billion, a P/E ratio of 25.68, a PEG ratio of 1.72 and a beta of 0.72. The company has a 50 day moving average of C$68.97 and a 200-day moving average of C$73.85. Enbridge has a 12-month low of C$62.42 and a 12-month high of C$80.65.

Enbridge (TSE:ENB) (NYSE:ENB) last posted its quarterly earnings data on Friday, July 31st. The company reported C$0.63 EPS for the quarter. Enbridge had a return on equity of 10.01% and a net margin of 7.28%. The business had revenue of C$29.32 billion for the quarter. Sell-side analysts anticipate that Enbridge will post 3.51 earnings per share for the current year.

Enbridge Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 1st. Investors of record on Tuesday, September 1st were paid a $0.97 dividend. This represents a $3.88 dividend on an annualized basis and a yield of 5.8%. The ex-dividend date was Friday, August 14th. Enbridge’s payout ratio is currently 147.68%.

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.