Enbridge (TSE:ENB) Upgraded at Scotiabank

Scotiabank upgraded shares of Enbridge (TSE:ENB) (NYSE:ENB) from a sector perform rating to an outperform rating in a research note published on Friday, Marketbeat Ratings reports. Scotiabank currently has C$73.00 price objective on the stock, up from their previous price objective of C$70.00.

Several other equities research analysts also recently issued reports on the stock. CIBC lowered their price objective on shares of Enbridge from C$71.00 to C$69.00 in a research report on Wednesday, December 17th. Royal Bank Of Canada lifted their price target on Enbridge from C$67.00 to C$72.00 in a research note on Monday, November 10th. Barclays upped their price objective on Enbridge from C$65.00 to C$68.00 and gave the stock an “equal weight” rating in a research report on Monday, October 6th. ATB Capital set a C$72.00 price objective on Enbridge and gave the stock an “outperform” rating in a report on Tuesday, December 23rd. Finally, Cibc World Mkts cut Enbridge from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 9th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of C$71.50.

Enbridge Stock Up 1.7%

TSE:ENB opened at C$66.17 on Friday. Enbridge has a 1 year low of C$56.51 and a 1 year high of C$70.39. The stock has a 50-day moving average price of C$65.88 and a two-hundred day moving average price of C$65.64. The stock has a market cap of C$144.45 billion, a price-to-earnings ratio of 25.95, a PEG ratio of 1.72 and a beta of 0.90. 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 (TSE:ENB) (NYSE:ENB) last released its quarterly earnings data on Friday, November 7th. The company reported C$0.46 earnings per share for the quarter. The business had revenue of C$14.64 billion for the quarter. Enbridge had a return on equity of 10.30% and a net margin of 13.75%. As a group, equities analysts expect that Enbridge will post 3.511912 earnings per share for the current year.

Enbridge Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 1st. Stockholders of record on Monday, December 1st were given a $0.9425 dividend. This represents a $3.77 dividend on an annualized basis and a dividend yield of 5.7%. The ex-dividend date of this dividend was Friday, November 14th. Enbridge’s dividend payout ratio (DPR) is 146.76%.

Enbridge Company Profile

At Enbridge, we safely connect millions of people to the energy they rely on every day, fueling quality of life through our North American natural gas, oil and renewable power networks and our growing European offshore wind portfolio. We’re investing in modern energy delivery infrastructure to sustain access to secure, affordable energy and building on more than a century of operating conventional energy infrastructure and two decades of experience in renewable power. We’re advancing new technologies including hydrogen, renewable natural gas, and carbon capture and storage.