Brokerages Set Enbridge Inc. (TSE:ENB) Target Price at C$66.00

Shares of Enbridge Inc. (TSE:ENBGet Free Report) (NYSE:ENB) have been assigned a consensus recommendation of “Moderate Buy” from the ten ratings firms that are presently covering the company, Marketbeat reports. Five investment analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is C$66.00.

ENB has been the subject of several research analyst reports. CIBC upped their price target on Enbridge from C$66.00 to C$67.00 in a research note on Wednesday, March 5th. BMO Capital Markets upped their price target on Enbridge from C$60.00 to C$63.00 in a research note on Monday, May 12th. Echelon Wealth Partners upped their price target on Enbridge from C$67.00 to C$74.00 in a research note on Wednesday, April 23rd. TD Securities upped their price target on Enbridge from C$66.00 to C$67.00 and gave the stock a “buy” rating in a research note on Tuesday, February 18th. Finally, Jefferies Financial Group upped their price target on Enbridge from C$59.00 to C$65.00 in a research note on Thursday, January 30th.

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Insider Activity at Enbridge

In other Enbridge news, Senior Officer Maximilian Chan sold 801 shares of the stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of C$63.17, for a total transaction of C$50,599.17. Also, Senior Officer Matthew Allan Akman bought 1,000 shares of Enbridge stock in a transaction on Friday, March 14th. The shares were purchased at an average cost of C$61.24 per share, for a total transaction of C$61,240.00. 0.10% of the stock is currently owned by company insiders.

Enbridge Stock Performance

Enbridge stock opened at C$63.32 on Tuesday. The firm has a market capitalization of C$137.23 billion, a P/E ratio of 20.58, a PEG ratio of 1.72 and a beta of 0.90. The stock has a fifty day moving average price of C$62.75 and a 200 day moving average price of C$61.93. Enbridge has a 52 week low of C$47.41 and a 52 week high of C$65.62. The company has a current ratio of 0.62, a quick ratio of 0.44 and a debt-to-equity ratio of 144.86.

Enbridge Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Sunday, June 1st. Investors of record on Sunday, June 1st will be issued a $0.9425 dividend. This represents a $3.77 dividend on an annualized basis and a yield of 5.95%. The ex-dividend date is Thursday, May 15th. Enbridge’s dividend payout ratio is currently 118.98%.

Enbridge Company Profile

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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.

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Analyst Recommendations for Enbridge (TSE:ENB)

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