Enbridge (TSE:ENB) Sets New 1-Year High – What’s Next?

Enbridge Inc. (TSE:ENB) (NYSE:ENB)’s stock price hit a new 52-week high during trading on Tuesday . The company traded as high as C$78.20 and last traded at C$78.03, with a volume of 6675928 shares traded. The stock had previously closed at C$76.13.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Scotiabank raised their target price on shares of Enbridge from C$77.00 to C$78.00 and gave the company a “sector outperform” rating in a research note on Monday, May 11th. Raymond James Financial raised their target price on shares of Enbridge from C$78.00 to C$80.00 and gave the company an “outperform” rating in a research note on Monday, May 11th. Jefferies Financial Group lowered shares of Enbridge from a “buy” rating to a “hold” rating and raised their target price for the company from C$71.00 to C$76.00 in a research note on Tuesday, February 17th. National Bank Financial lifted their price objective on shares of Enbridge from C$72.00 to C$73.00 and gave the stock a “sector perform” rating in a research note on Monday, May 11th. Finally, Royal Bank Of Canada lifted their price objective on shares of Enbridge from C$76.00 to C$79.00 and gave the stock an “outperform” rating in a research note on Monday, May 11th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of C$74.27.

Enbridge Stock Up 2.4%

The firm’s 50 day moving average is C$74.04 and its two-hundred day moving average is C$69.58. The firm has a market cap of C$170.20 billion, a P/E ratio of 26.42, a price-to-earnings-growth ratio of 1.72 and a beta of 0.87. The company has a current ratio of 0.81, a quick ratio of 0.44 and a debt-to-equity ratio of 168.58.

Enbridge (TSE:ENB) (NYSE:ENB) last released its quarterly earnings data on Friday, May 8th. The company reported C$0.98 earnings per share for the quarter. Enbridge had a net margin of 9.73% and a return on equity of 11.41%. The business had revenue of C$22.36 billion for the quarter. As a group, research analysts anticipate that Enbridge Inc. will post 3.511912 EPS for the current fiscal year.

Enbridge Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Monday, June 1st will be issued a dividend of $0.97 per share. This represents a $3.88 annualized dividend and a yield of 5.0%. The ex-dividend date is Friday, May 15th. Enbridge’s dividend payout ratio (DPR) is 128.73%.

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.