Brokerages Set Enbridge Inc (ENB) Target Price at $55.56

Enbridge Inc (TSE:ENB) (NYSE:ENB) has received a consensus rating of “Buy” from the eleven ratings firms that are presently covering the firm, reports. Two analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is C$55.56.

Several equities analysts have recently weighed in on the company. CSFB restated an “outperform” rating and issued a C$55.00 target price on shares of Enbridge in a research report on Monday, March 4th. National Bank Financial downgraded Enbridge from an “outperform” rating to a “sector perform” rating and decreased their target price for the company from C$59.00 to C$55.00 in a research report on Monday, March 4th. BMO Capital Markets decreased their target price on Enbridge from C$59.00 to C$57.00 in a research report on Monday, March 4th. TD Securities raised their target price on Enbridge from C$56.00 to C$57.00 in a research report on Tuesday, February 19th. Finally, JPMorgan Chase & Co. raised their target price on Enbridge from C$53.00 to C$56.00 in a research report on Friday, February 1st.

In related news, Director Albert Monaco purchased 7,806 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The stock was purchased at an average price of C$49.33 per share, with a total value of C$385,069.98. Following the completion of the acquisition, the director now owns 813,101 shares in the company, valued at C$40,110,272.33.

ENB stock traded down C$0.46 during mid-day trading on Thursday, reaching C$49.11. 5,424,315 shares of the company’s stock were exchanged, compared to its average volume of 5,061,173. The company has a market capitalization of $100.36 billion and a P/E ratio of 22.40. The company has a current ratio of 0.64, a quick ratio of 0.54 and a debt-to-equity ratio of 90.94. Enbridge has a 12-month low of C$39.40 and a 12-month high of C$51.20.

Enbridge (TSE:ENB) (NYSE:ENB) last released its earnings results on Friday, February 15th. The company reported C$0.65 earnings per share for the quarter, beating the consensus estimate of C$0.60 by C$0.05. The firm had revenue of C$11.56 billion during the quarter. On average, research analysts predict that Enbridge will post 2.77000011674752 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Saturday, June 1st. Investors of record on Wednesday, May 15th will be issued a $0.738 dividend. The ex-dividend date is Tuesday, May 14th. This represents a $2.95 annualized dividend and a dividend yield of 6.01%. Enbridge’s dividend payout ratio is presently 125.50%.

About Enbridge

Enbridge Inc operates as an energy infrastructure company in Canada and the United States. The company operates through five segments: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution, Green Power and Transmission, and Energy Services. The Liquids Pipelines segment operates common carrier and contract crude oil, natural gas liquids (NGL), and refined products pipelines and terminals.

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Analyst Recommendations for Enbridge (TSE:ENB)

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