Echelon Wealth Partners Raises Enbridge (TSE:ENB) Price Target to C$74.00

Enbridge (TSE:ENB) (NYSE:ENB) had its price target boosted by Echelon Wealth Partners from C$67.00 to C$74.00 in a research report sent to investors on Wednesday morning,BayStreet.CA reports.

Several other equities analysts have also weighed in on ENB. Scotiabank increased their target price on Enbridge from C$61.00 to C$65.00 and gave the company a “sector perform” rating in a research note on Thursday, February 13th. Jefferies Financial Group raised their price objective on Enbridge from C$59.00 to C$65.00 in a research note on Thursday, January 30th. TD Securities increased their price target on Enbridge from C$66.00 to C$67.00 and gave the stock a “buy” rating in a report on Tuesday, February 18th. Royal Bank of Canada increased their target price on Enbridge from C$63.00 to C$67.00 in a research note on Tuesday, February 18th. Finally, Barclays increased their price objective on shares of Enbridge from C$59.00 to C$64.00 in a research report on Monday, January 6th. Six research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, Enbridge currently has a consensus rating of “Hold” and a consensus target price of C$65.79.

Enbridge Trading Down 0.4 %

Shares of TSE ENB opened at C$64.01 on Wednesday. The company’s 50 day simple moving average is C$61.58 and its 200 day simple moving average is C$60.84. The company has a debt-to-equity ratio of 144.86, a current ratio of 0.62 and a quick ratio of 0.44. Enbridge has a fifty-two week low of C$47.41 and a fifty-two week high of C$65.62. The firm has a market capitalization of C$138.72 billion, a P/E ratio of 20.81, a P/E/G ratio of 1.72 and a beta of 0.90.

Enbridge Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Sunday, June 1st. Investors of record on Thursday, May 15th will be given a dividend of $0.9425 per share. This represents a $3.77 annualized dividend and a yield of 5.89%. Enbridge’s dividend payout ratio (DPR) is presently 118.98%.

Insider Transactions at Enbridge

In related news, Senior Officer Michele Eva Harradence acquired 5,857 shares of the firm’s stock in a transaction on Wednesday, March 19th. The shares were purchased at an average cost of C$62.53 per share, for a total transaction of C$366,238.21. Also, Senior Officer Matthew Allan Akman bought 1,000 shares of the business’s stock in a transaction dated Friday, March 14th. The shares were bought at an average price of C$61.24 per share, with a total value of C$61,240.00. Company insiders own 0.10% of the company’s stock.

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.