Enbridge Inc. (TSE:ENB) Stock Has Average Price Target of C$77.62 According to Analysts

Enbridge Inc. (TSE:ENB) (NYSE:ENB) has been assigned an average recommendation of “Moderate Buy” from the thirteen ratings firms that are covering the stock, MarketBeat.com reports. Four analysts have rated the stock with a hold recommendation, seven have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is C$77.62.

A number of equities research analysts have recently commented on the stock. National Bank Financial upgraded shares of Enbridge from a “sector perform” rating to an “outperform” rating and increased their target price for the company from C$81.00 to C$82.00 in a research report on Tuesday, September 15th. Canadian Imperial Bank of Commerce raised Enbridge from a “hold” rating to an “outperformer” rating and upped their price target for the company from C$77.00 to C$78.00 in a research note on Friday, August 28th. The Goldman Sachs Group upgraded Enbridge to a “hold” rating in a report on Wednesday, September 30th. BMO Capital Markets raised Enbridge from a “hold” rating to an “outperform” rating and raised their price objective for the stock from C$79.00 to C$79.50 in a research report on Tuesday, September 15th. Finally, US Capital Advisors raised shares of Enbridge from a “hold” rating to a “moderate buy” rating in a research report on Thursday, August 20th.

Enbridge Stock Up 1.1%

ENB stock opened at C$66.87 on Tuesday. The stock has a market capitalization of C$149.04 billion, a P/E ratio of 25.82, a P/E/G ratio of 1.72 and a beta of 0.74. The firm has a 50-day simple moving average of C$67.50 and a 200-day simple moving average of C$72.49. The company has a quick ratio of 0.44, a current ratio of 0.72 and a debt-to-equity ratio of 171.59. Enbridge has a 52 week low of C$62.42 and a 52 week high of C$80.65.

Enbridge (TSE:ENB) (NYSE:ENB) last issued its quarterly earnings results on Friday, November 6th. The company reported C$0.49 earnings per share for the quarter. Enbridge had a net margin of 7.28% and a return on equity of 10.01%. The firm had revenue of C$21.08 billion for the quarter. Equities analysts forecast that Enbridge will post 3.51 earnings per share for the current fiscal year.

Enbridge Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 1st. Stockholders of record on Tuesday, December 1st will be paid a $0.97 dividend. This represents a $3.88 dividend on an annualized basis and a dividend yield of 5.8%. The ex-dividend date of this dividend is Friday, November 13th. Enbridge’s payout ratio is 147.68%.

Insider Buying and Selling

In related news, insider Michele Eva Harradence acquired 7,105 shares of the firm’s stock in a transaction dated Monday, September 14th. The shares were purchased at an average cost of C$67.28 per share, for a total transaction of C$478,024.40. Following the acquisition, the insider owned 87,467 shares in the company, valued at C$5,884,779.76. The trade was a 8.84% increase in their position. Also, Director Gregory Lorne Ebel acquired 7,105 shares of the stock in a transaction that occurred on Monday, September 14th. The shares were bought at an average cost of C$66.85 per share, with a total value of C$474,969.25. Following the transaction, the director directly owned 589,721 shares in the company, valued at C$39,422,848.85. This trade represents a 1.22% increase in their position. 0.10% of the stock is currently owned by insiders.

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.