Enbridge (TSE:ENB) Sets New 12-Month High – Here’s Why

Enbridge Inc. (TSE:ENB) (NYSE:ENB)’s share price reached a new 52-week high during mid-day trading on Monday . The company traded as high as C$73.75 and last traded at C$73.24, with a volume of 459041 shares trading hands. The stock had previously closed at C$72.47.

Analyst Ratings Changes

A number of research analysts have recently commented on ENB shares. BMO Capital Markets increased their target price on shares of Enbridge from C$67.00 to C$70.00 in a report on Thursday, December 4th. National Bank Financial raised their target price on shares of Enbridge from C$71.00 to C$72.00 and gave the company a “sector perform” rating in a research report on Tuesday, February 17th. ATB Cormark Capital Markets upped their price target on shares of Enbridge from C$72.00 to C$78.00 and gave the stock an “outperform” rating in a report on Tuesday, February 17th. Scotiabank increased their price target on Enbridge from C$73.00 to C$77.00 and gave the company an “outperform” rating in a research note on Tuesday, February 17th. Finally, Raymond James Financial boosted their price objective on Enbridge from C$75.00 to C$77.00 and gave the stock a “moderate buy” rating in a research report on Tuesday, February 17th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of C$73.31.

Enbridge Price Performance

The stock has a market cap of C$162.11 billion, a P/E ratio of 23.07, a P/E/G ratio of 1.72 and a beta of 0.95. The company’s 50 day moving average price is C$67.48 and its 200-day moving average price is C$67.09. The company has a quick ratio of 0.44, a current ratio of 0.63 and a debt-to-equity ratio of 170.86.

Enbridge (TSE:ENB) (NYSE:ENB) last issued its quarterly earnings data on Friday, February 13th. The company reported C$0.88 earnings per share for the quarter. The company had revenue of C$17.18 billion for the quarter. Enbridge had a net margin of 11.50% and a return on equity of 12.34%. As a group, sell-side analysts expect that Enbridge Inc. will post 3.511912 earnings per share for the current year.

Enbridge Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Sunday, March 1st. Stockholders of record on Sunday, March 1st were paid a $0.97 dividend. The ex-dividend date of this dividend was Tuesday, February 17th. This is a positive change from Enbridge’s previous quarterly dividend of $0.94. This represents a $3.88 annualized dividend and a dividend yield of 5.2%. Enbridge’s payout ratio is currently 117.08%.

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.