Barclays Raises Enbridge (TSE:ENB) Price Target to C$59.00

Enbridge (TSE:ENB) (NYSE:ENB) had its price target boosted by Barclays from C$54.00 to C$59.00 in a research note issued to investors on Monday,BayStreet.CA reports.

Other equities research analysts also recently issued research reports about the company. National Bankshares raised their price target on Enbridge from C$53.00 to C$57.00 and gave the stock a “sector perform” rating in a report on Friday, August 23rd. Morgan Stanley set a C$64.00 target price on shares of Enbridge and gave the stock an “equal weight” rating in a research note on Friday, October 25th. Wells Fargo & Company raised shares of Enbridge from a “strong sell” rating to a “hold” rating in a research report on Wednesday, November 6th. BMO Capital Markets raised their price target on shares of Enbridge from C$54.00 to C$56.00 in a report on Thursday, September 5th. Finally, CIBC boosted their price objective on shares of Enbridge from C$59.00 to C$67.00 in a report on Monday, November 4th. Eight analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, Enbridge presently has a consensus rating of “Hold” and a consensus price target of C$57.54.

Enbridge Stock Performance

Shares of ENB stock opened at C$59.54 on Monday. Enbridge has a 12-month low of C$45.05 and a 12-month high of C$59.69. The business’s fifty day simple moving average is C$55.92 and its 200-day simple moving average is C$52.23. The company has a current ratio of 0.76, a quick ratio of 0.44 and a debt-to-equity ratio of 131.26. The company has a market cap of C$129.80 billion, a PE ratio of 22.87, a PEG ratio of 1.72 and a beta of 0.90.

Enbridge Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders of record on Friday, November 15th will be paid a dividend of $0.915 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $3.66 dividend on an annualized basis and a dividend yield of 6.15%. Enbridge’s payout ratio is currently 140.77%.

Insider Transactions at Enbridge

In other Enbridge news, Senior Officer Maximilian Chan sold 688 shares of the company’s stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of C$55.20, for a total value of C$37,977.60. Company insiders own 0.10% of the company’s stock.

About Enbridge

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.