Enbridge (TSE:ENB) Reaches New 52-Week High – Still a Buy?

Shares of Enbridge Inc. (TSE:ENB) (NYSE:ENB) reached a new 52-week high during trading on Monday . The stock traded as high as C$76.48 and last traded at C$76.32, with a volume of 327126 shares trading hands. The stock had previously closed at C$75.83.

Analyst Ratings Changes

Several brokerages have recently issued reports on ENB. BMO Capital Markets upped their target price on shares of Enbridge from C$67.00 to C$70.00 in a research report on Thursday, December 4th. ATB Cormark Capital Markets increased their price target on shares of Enbridge from C$72.00 to C$78.00 and gave the company an “outperform” rating in a report on Tuesday, February 17th. National Bank Financial lifted their price target on Enbridge from C$71.00 to C$72.00 and gave the stock a “sector perform” rating in a research report on Tuesday, February 17th. Scotiabank boosted their price objective on Enbridge from C$73.00 to C$77.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 17th. Finally, Royal Bank Of Canada upped their price objective on Enbridge from C$72.00 to C$76.00 and gave the company an “outperform” rating in a research report on Tuesday, February 17th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat, Enbridge presently has an average rating of “Moderate Buy” and a consensus target price of C$73.31.

Enbridge Price Performance

The company has a debt-to-equity ratio of 170.86, a current ratio of 0.63 and a quick ratio of 0.44. The firm has a market cap of C$164.57 billion, a P/E ratio of 23.42, a PEG ratio of 1.72 and a beta of 1.00. The stock’s 50-day simple moving average is C$71.26 and its two-hundred day simple moving average is C$68.18.

Enbridge (TSE:ENB) (NYSE:ENB) last released its earnings results on Friday, February 13th. The company reported C$0.88 earnings per share (EPS) for the quarter. Enbridge had a net margin of 11.50% and a return on equity of 12.34%. The firm had revenue of C$17.18 billion during the quarter. Equities research analysts forecast that Enbridge Inc. will post 3.511912 earnings per share for the current fiscal year.

Enbridge Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Sunday, March 1st. Investors of record on Sunday, March 1st were given a $0.97 dividend. This is an increase from Enbridge’s previous quarterly dividend of $0.94. The ex-dividend date of this dividend was Tuesday, February 17th. This represents a $3.88 dividend on an annualized basis and a yield of 5.1%. Enbridge’s dividend payout ratio is currently 117.08%.

About Enbridge

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.