Enbridge (NYSE:ENB) (TSE:ENB) had its price objective hoisted by Wells Fargo & Company from $51.00 to $53.00 in a research note issued to investors on Thursday morning, Stock Target Advisor reports. Wells Fargo & Company currently has an overweight rating on the pipeline company’s stock.
Other equities analysts also recently issued reports about the company. Zacks Investment Research downgraded Enbridge from a buy rating to a hold rating and set a $42.00 price target on the stock. in a research note on Monday, June 14th. CIBC raised their price target on Enbridge from C$52.00 to C$57.00 and gave the stock an outperform rating in a research note on Friday, June 18th. Argus raised their price target on Enbridge from $40.00 to $43.00 and gave the stock a buy rating in a research note on Tuesday, May 25th. Credit Suisse Group upgraded Enbridge from a neutral rating to an outperform rating and raised their price target for the stock from $52.00 to $55.00 in a research note on Thursday, June 17th. Finally, Tudor Pickering restated a buy rating and issued a C$52.00 price target on shares of Enbridge in a research note on Friday, June 11th. One research analyst has rated the stock with a hold rating and twelve have given a buy rating to the stock. Enbridge currently has a consensus rating of Buy and a consensus price target of $52.00.
Enbridge stock opened at $40.08 on Thursday. The company has a market cap of $81.19 billion, a price-to-earnings ratio of 21.89, a price-to-earnings-growth ratio of 3.07 and a beta of 0.87. The business has a fifty day simple moving average of $38.95. Enbridge has a 12 month low of $26.97 and a 12 month high of $41.13. The company has a current ratio of 0.59, a quick ratio of 0.52 and a debt-to-equity ratio of 1.08.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 1st. Stockholders of record on Friday, May 14th were given a $0.6778 dividend. This represents a $2.71 annualized dividend and a dividend yield of 6.76%. This is an increase from Enbridge’s previous quarterly dividend of $0.65. The ex-dividend date was Thursday, May 13th. Enbridge’s payout ratio is presently 144.20%.
Institutional investors have recently made changes to their positions in the company. Copperleaf Capital LLC lifted its position in shares of Enbridge by 68.8% in the first quarter. Copperleaf Capital LLC now owns 57,702 shares of the pipeline company’s stock valued at $2,100,000 after acquiring an additional 23,509 shares in the last quarter. Scott & Selber Inc. purchased a new position in shares of Enbridge in the first quarter valued at about $1,159,000. Foundations Investment Advisors LLC lifted its position in shares of Enbridge by 35.2% in the first quarter. Foundations Investment Advisors LLC now owns 89,672 shares of the pipeline company’s stock valued at $3,295,000 after acquiring an additional 23,351 shares in the last quarter. Pettyjohn Wood & White Inc. lifted its position in shares of Enbridge by 5.3% in the first quarter. Pettyjohn Wood & White Inc. now owns 68,934 shares of the pipeline company’s stock valued at $2,509,000 after acquiring an additional 3,462 shares in the last quarter. Finally, First Bank & Trust increased its holdings in shares of Enbridge by 37.8% in the first quarter. First Bank & Trust now owns 59,696 shares of the pipeline company’s stock worth $2,172,000 after purchasing an additional 16,369 shares during the last quarter. Institutional investors and hedge funds own 49.04% of the company’s stock.
Enbridge Inc 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.
Further Reading: Limitations of the P/E Growth ratio
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