BMO Capital Markets Raises Enbridge (TSE:ENB) Price Target to C$56.00

Enbridge (TSE:ENB) (NYSE:ENB) had its target price increased by BMO Capital Markets from C$55.00 to C$56.00 in a research note published on Wednesday, BayStreet.CA reports.

Several other equities analysts have also commented on ENB. Royal Bank of Canada upped their target price on Enbridge from C$54.00 to C$56.00 and gave the company an outperform rating in a report on Monday, November 11th. UBS Group raised Enbridge from a neutral rating to a buy rating and upped their target price for the company from C$50.00 to C$54.00 in a report on Monday, November 25th. US Capital Advisors reaffirmed an overweight rating on shares of Enbridge in a report on Friday, October 25th. Tudor Pickering & Holt reaffirmed a hold rating and set a C$50.00 target price on shares of Enbridge in a report on Tuesday. Finally, Jefferies Financial Group reaffirmed a hold rating and set a C$54.00 target price on shares of Enbridge in a report on Thursday, December 5th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Enbridge presently has a consensus rating of Buy and an average price target of C$54.62.

Shares of TSE ENB opened at C$50.57 on Wednesday. The stock’s 50 day moving average price is C$49.69 and its two-hundred day moving average price is C$47.18. Enbridge has a 52-week low of C$39.69 and a 52-week high of C$51.96. The stock has a market capitalization of $103.42 billion and a P/E ratio of 17.55. The company has a quick ratio of 0.47, a current ratio of 0.60 and a debt-to-equity ratio of 94.16.

Enbridge (TSE:ENB) (NYSE:ENB) last posted its earnings results on Friday, November 8th. The company reported C$0.56 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of C$0.53 by C$0.03. The company had revenue of C$11.60 billion for the quarter. On average, analysts anticipate that Enbridge will post 2.6800001 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, March 1st. Investors of record on Friday, February 14th will be issued a $0.81 dividend. This represents a $3.24 dividend on an annualized basis and a yield of 6.41%. This is a positive change from Enbridge’s previous quarterly dividend of $0.74. The ex-dividend date is Thursday, February 13th. Enbridge’s dividend payout ratio is 100.10%.

In other Enbridge news, Senior Officer Bradley Francis Shamla sold 2,537 shares of the stock in a transaction on Thursday, September 26th. The stock was sold at an average price of C$47.30, for a total transaction of C$120,000.10. Following the completion of the transaction, the insider now directly owns 46,035 shares of the company’s stock, valued at approximately C$2,177,455.50. Also, Director Albert Monaco purchased 6,542 shares of the firm’s stock in a transaction on Wednesday, December 11th. The shares were purchased at an average cost of C$51.08 per share, with a total value of C$334,160.78. Following the completion of the purchase, the director now owns 872,174 shares in the company, valued at approximately C$44,550,037.40.

Enbridge Company Profile

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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