Brokerages Set Enbridge Inc. (TSE:ENB) Price Target at C$75.50

Shares of Enbridge Inc. (TSE:ENB) (NYSE:ENB) have been given a consensus rating of “Moderate Buy” by the twelve brokerages that are presently covering the firm, MarketBeat reports. Seven equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is C$75.50.

ENB has been the topic of a number of analyst reports. Barclays lifted their price objective on shares of Enbridge from C$68.00 to C$73.00 in a report on Tuesday, April 7th. Raymond James Financial raised their price target on shares of Enbridge from C$78.00 to C$80.00 and gave the company an “outperform” rating in a research report on Monday, May 11th. Royal Bank Of Canada upped 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 report on Monday, May 11th. National Bank Financial increased their price objective on shares of Enbridge from C$73.00 to C$81.00 and gave the company a “sector perform” rating in a research note on Monday, June 1st. Finally, TD lifted their target price on shares of Enbridge from C$79.00 to C$81.00 and gave the stock a “hold” rating in a research report on Thursday, June 25th.

Enbridge Trading Up 2.9%

TSE:ENB opened at C$78.11 on Wednesday. The company has a debt-to-equity ratio of 168.58, a current ratio of 0.81 and a quick ratio of 0.44. Enbridge has a one year low of C$59.68 and a one year high of C$80.65. The company has a market cap of C$170.57 billion, a PE ratio of 26.48, a PEG ratio of 1.72 and a beta of 0.73. The firm has a 50-day moving average of C$77.03 and a 200-day moving average of C$72.47.

Enbridge (TSE:ENB) (NYSE:ENB) last released its quarterly earnings results on Friday, May 8th. The company reported C$0.98 earnings per share (EPS) for the quarter. The business had revenue of C$22.36 billion during the quarter. Enbridge had a return on equity of 11.11% and a net margin of 9.43%. As a group, equities research analysts expect that Enbridge will post 3.511912 EPS for the current fiscal year.

Enbridge Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Monday, June 1st were issued a dividend of $0.97 per share. This represents a $3.88 dividend on an annualized basis and a yield of 5.0%. The ex-dividend date was Friday, May 15th. Enbridge’s dividend payout ratio (DPR) is 128.73%.

Insider Buying and Selling at Enbridge

In other news, Director Mayank Mulraj Ashar sold 5,000 shares of the firm’s stock in a transaction on Tuesday, May 19th. The stock was sold at an average price of C$78.08, for a total transaction of C$390,400.00. Following the completion of the sale, the director directly owned 45,000 shares of the company’s stock, valued at C$3,513,600. This trade represents a 10.00% decrease in their position. Also, insider Melissa Marie Laforge sold 855 shares of Enbridge stock in a transaction on Friday, May 22nd. The stock was sold at an average price of C$80.16, for a total value of C$68,536.80. Following the sale, the insider owned 7,904 shares in the company, valued at C$633,584.64. The trade was a 9.76% decrease in their ownership of the stock. In the last three months, insiders sold 8,855 shares of company stock worth $695,547. Insiders own 0.10% of the company’s stock.

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.