Enbridge (TSE:ENB) Price Target Raised to C$56.00 at BMO Capital Markets

Enbridge (TSE:ENB) (NYSE:ENB) had its price objective lifted by BMO Capital Markets from C$54.00 to C$56.00 in a report released on Thursday morning, BayStreet.CA reports.

Several other brokerages have also issued reports on ENB. JPMorgan Chase & Co. increased their price target on shares of Enbridge from C$56.00 to C$57.00 in a research note on Wednesday, August 7th. National Bankshares lifted their target price on shares of Enbridge from C$53.00 to C$57.00 and gave the company a sector perform rating in a report on Friday, August 23rd. Wells Fargo & Company raised their price objective on Enbridge from C$45.00 to C$48.00 in a research report on Tuesday, June 4th. Scotiabank downgraded Enbridge from a strong-buy rating to a hold rating in a report on Friday, June 14th. Finally, CIBC increased their price objective on shares of Enbridge from C$57.00 to C$59.00 in a research report on Monday, July 15th. Six equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of Hold and a consensus price target of C$53.80.

Enbridge Price Performance

Shares of TSE ENB opened at C$54.79 on Thursday. The company has a debt-to-equity ratio of 131.26, a current ratio of 0.76 and a quick ratio of 0.44. Enbridge has a 1 year low of C$42.75 and a 1 year high of C$55.16. The company’s 50-day moving average is C$51.71 and its 200 day moving average is C$49.67. The stock has a market capitalization of C$119.44 billion, a P/E ratio of 21.07, a P/E/G ratio of 0.75 and a beta of 0.91.

Enbridge (TSE:ENB) (NYSE:ENB) last released its earnings results on Friday, August 2nd. The company reported C$0.58 EPS for the quarter, missing analysts’ consensus estimates of C$0.62 by C($0.04). Enbridge had a net margin of 13.54% and a return on equity of 8.57%. The firm had revenue of C$11.34 billion during the quarter, compared to analysts’ expectations of C$5.86 billion. On average, sell-side analysts expect that Enbridge will post 2.7922146 earnings per share for the current year.

Enbridge Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Thursday, August 15th were issued a $0.915 dividend. This represents a $3.66 dividend on an annualized basis and a dividend yield of 6.68%. The ex-dividend date of this dividend was Thursday, August 15th. Enbridge’s payout ratio is 140.77%.

Insider Activity at Enbridge

In related news, Director Steven Walter Williams acquired 18,600 shares of Enbridge stock in a transaction dated Tuesday, August 13th. The stock was purchased at an average cost of C$53.74 per share, for a total transaction of C$999,564.00. 0.10% of the stock is currently owned by company insiders.

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.