Brokerages Set Enbridge Inc. (TSE:ENB) Target Price at C$65.79

Enbridge Inc. (TSE:ENB) (NYSE:ENB) has been assigned a consensus rating of “Hold” from the eleven brokerages that are presently covering the firm, Marketbeat.com reports. Six research analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is C$65.79.

ENB has been the subject of a number of analyst reports. Jefferies Financial Group lifted their price target on shares of Enbridge from C$59.00 to C$65.00 in a research report on Thursday, January 30th. Citigroup set a C$75.00 price objective on Enbridge and gave the company a “buy” rating in a report on Friday, April 4th. Scotiabank increased their target price on Enbridge from C$61.00 to C$65.00 and gave the stock a “sector perform” rating in a report on Thursday, February 13th. Echelon Wealth Partners boosted their price target on Enbridge from C$67.00 to C$74.00 in a research note on Wednesday, April 23rd. Finally, TD Securities increased their price objective on shares of Enbridge from C$66.00 to C$67.00 and gave the stock a “buy” rating in a research note on Tuesday, February 18th.

Insider Buying and Selling

In related news, Senior Officer Michele Eva Harradence bought 5,857 shares of the stock in a transaction that occurred on Wednesday, March 19th. The stock was acquired at an average cost of C$62.53 per share, with a total value of C$366,238.21. Also, Senior Officer Matthew Allan Akman purchased 1,000 shares of Enbridge stock in a transaction on Friday, March 14th. The stock was bought at an average price of C$61.24 per share, for a total transaction of C$61,240.00. 0.10% of the stock is currently owned by corporate insiders.

Enbridge Price Performance

Shares of Enbridge stock opened at C$63.57 on Friday. The company has a quick ratio of 0.44, a current ratio of 0.62 and a debt-to-equity ratio of 144.86. The stock has a market capitalization of C$137.77 billion, a price-to-earnings ratio of 20.66, a price-to-earnings-growth ratio of 1.72 and a beta of 0.90. Enbridge has a twelve month low of C$47.41 and a twelve month high of C$65.62. The company has a 50-day simple moving average of C$62.22 and a two-hundred day simple moving average of C$61.23.

Enbridge Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, June 1st. Investors of record on Sunday, June 1st will be issued a dividend of $0.9425 per share. This represents a $3.77 annualized dividend and a dividend yield of 5.93%. The ex-dividend date of this dividend is Thursday, May 15th. Enbridge’s dividend payout ratio (DPR) is 118.98%.

About Enbridge

Enbridge owns extensive midstream assets that transport hydrocarbons across the U.S. and Canada. Its pipeline network consists of the Canadian Mainline system, regional oil sands pipelines, and natural gas pipelines. The company also owns and operates a regulated natural gas utility and Canada’s largest natural gas distribution company.