Analysts Set Enbridge Inc. (TSE:ENB) Target Price at C$53.50

Enbridge Inc. (TSE:ENB) (NYSE:ENB) has been given a consensus rating of “Moderate Buy” by the thirteen analysts that are covering the firm, MarketBeat.com reports. Six investment analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is C$53.56.

Several analysts recently issued reports on ENB shares. Jefferies Financial Group lifted their target price on Enbridge from C$53.00 to C$55.00 in a research note on Monday, May 13th. Barclays decreased their target price on Enbridge from C$53.00 to C$51.00 in a research note on Thursday, March 7th. Royal Bank of Canada decreased their target price on Enbridge from C$55.00 to C$54.00 and set an “outperform” rating on the stock in a research note on Monday, February 12th. National Bankshares lifted their target price on Enbridge from C$52.00 to C$53.00 and gave the company a “sector perform” rating in a research note on Monday, May 13th. Finally, JPMorgan Chase & Co. lifted their target price on Enbridge from C$55.00 to C$56.00 and gave the company an “overweight” rating in a research note on Friday, May 17th.

Enbridge Stock Down 1.3 %

ENB stock opened at C$49.45 on Friday. Enbridge has a twelve month low of C$42.75 and a twelve month high of C$52.34. The company has a quick ratio of 0.44, a current ratio of 0.68 and a debt-to-equity ratio of 130.31. The stock has a market cap of C$105.33 billion, a P/E ratio of 18.66, a PEG ratio of 0.75 and a beta of 0.88. The business’s 50-day moving average price is C$48.87 and its 200-day moving average price is C$47.91.

Enbridge Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Investors of record on Wednesday, May 15th will be issued a dividend of $0.915 per share. This represents a $3.66 dividend on an annualized basis and a yield of 7.40%. The ex-dividend date of this dividend is Tuesday, May 14th. Enbridge’s payout ratio is currently 138.11%.

Enbridge Company Profile

Enbridge Inc, together with its subsidiaries, operates as an energy infrastructure company. The company operates through five segments: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution and Storage, Renewable Power Generation, and Energy Services. The Liquids Pipelines segment operates pipelines and related terminals to transport various grades of crude oil and other liquid hydrocarbons in Canada and the United States.