Enbridge (TSE:ENB) Hits New 12-Month High at $55.88

Shares of Enbridge Inc. (TSE:ENB) (NYSE:ENB) reached a new 52-week high during trading on Monday . The company traded as high as C$55.88 and last traded at C$55.79, with a volume of 1187243 shares traded. The stock had previously closed at C$55.37.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on ENB. CIBC raised their price objective on shares of Enbridge from C$57.00 to C$59.00 in a research note on Monday, July 15th. National Bankshares upped their price objective on Enbridge from C$53.00 to C$57.00 and gave the company a “sector perform” rating in a report on Friday, August 23rd. JPMorgan Chase & Co. lifted their target price on Enbridge from C$56.00 to C$57.00 in a report on Wednesday, August 7th. Wells Fargo & Company raised their price objective on shares of Enbridge from C$45.00 to C$48.00 in a research report on Tuesday, June 4th. Finally, BMO Capital Markets boosted their target price on shares of Enbridge from C$54.00 to C$56.00 in a report on Thursday, September 5th. Five analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of C$54.33.

Enbridge Price Performance

The company’s 50-day simple moving average is C$52.33 and its 200 day simple moving average is C$49.98. The company has a quick ratio of 0.44, a current ratio of 0.76 and a debt-to-equity ratio of 131.26. The stock has a market capitalization of C$122.04 billion, a price-to-earnings ratio of 21.47, a P/E/G ratio of 0.75 and a beta of 0.90.

Enbridge (TSE:ENB) (NYSE:ENB) last issued its quarterly earnings data on Friday, August 2nd. The company reported C$0.58 EPS for the quarter, missing analysts’ consensus estimates of C$0.62 by C($0.04). Enbridge had a net margin of 13.54% and a return on equity of 8.57%. The company had revenue of C$11.34 billion for the quarter, compared to analyst estimates of C$5.86 billion. Equities research analysts forecast that Enbridge Inc. will post 3.0693674 EPS for the current year.

Enbridge Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Thursday, August 15th were paid a $0.915 dividend. This represents a $3.66 dividend on an annualized basis and a dividend yield of 6.54%. The ex-dividend date of this dividend was Thursday, August 15th. Enbridge’s payout ratio is 140.77%.

Insider Buying and Selling

In other news, Director Steven Walter Williams bought 18,600 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The shares were purchased at an average price of C$53.74 per share, for a total transaction of C$999,564.00. 0.10% of the stock is owned by insiders.

Enbridge Company Profile

Enbridge Inc, together with its subsidiaries, 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.