Enbridge Inc. (TSE:ENB) Receives C$67.80 Consensus Target Price from Analysts

Shares of Enbridge Inc. (TSE:ENB) (NYSE:ENB) have earned a consensus rating of “Moderate Buy” from the eleven research firms that are presently covering the firm, Marketbeat.com reports. Six investment analysts have rated the stock with a hold recommendation, four have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among brokers that have covered the stock in the last year is C$68.07.

A number of research analysts have recently weighed in on the company. Jefferies Financial Group upgraded Enbridge from a “hold” rating to a “buy” rating and lifted their price target for the company from C$65.00 to C$72.00 in a report on Wednesday, July 23rd. CIBC downgraded Enbridge from an “outperform” rating to a “neutral” rating and lifted their price target for the company from C$68.00 to C$70.00 in a report on Thursday, October 9th. Cibc World Mkts downgraded Enbridge from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 9th. Argus upgraded Enbridge to a “strong-buy” rating in a report on Tuesday, August 12th. Finally, Scotiabank lifted their price target on Enbridge from C$65.00 to C$69.00 and gave the company a “sector perform” rating in a report on Monday, October 20th.

Enbridge Stock Performance

Shares of TSE ENB opened at C$65.65 on Friday. Enbridge has a 52-week low of C$55.53 and a 52-week high of C$70.39. 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$143.15 billion, a price-to-earnings ratio of 23.12, a PEG ratio of 1.72 and a beta of 0.89. The stock’s fifty day simple moving average is C$67.28 and its 200 day simple moving average is C$64.33.

Enbridge Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 1st. Investors of record on Monday, September 1st were given a dividend of $0.9425 per share. The ex-dividend date of this dividend was Friday, August 15th. This represents a $3.77 dividend on an annualized basis and a yield of 5.7%. Enbridge’s dividend payout ratio (DPR) is presently 130.81%.

Enbridge Company Profile

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.