Analysts Set Enbridge Inc. (TSE:ENB) Target Price at C$56.92

Shares of Enbridge Inc. (TSE:ENB) (NYSE:ENB) have been given an average recommendation of “Hold” by the eleven research firms that are currently covering the company, MarketBeat reports. Eight investment analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is C$57.54.

A number of analysts have recently issued reports on the stock. CIBC raised their price target on shares of Enbridge from C$59.00 to C$67.00 in a report on Monday, November 4th. Royal Bank of Canada raised their price target on shares of Enbridge from C$55.00 to C$59.00 and gave the company an “outperform” rating in a research report on Thursday, October 3rd. BMO Capital Markets raised their price target on shares of Enbridge from C$54.00 to C$56.00 in a research report on Thursday, September 5th. Morgan Stanley set a C$64.00 price objective on shares of Enbridge and gave the stock an “equal weight” rating in a research report on Friday, October 25th. Finally, Jefferies Financial Group cut shares of Enbridge from a “buy” rating to a “hold” rating and lifted their price objective for the stock from C$55.00 to C$58.00 in a research report on Monday, September 30th.

Enbridge Stock Up 1.8 %

ENB stock opened at C$60.59 on Friday. The company has a market cap of C$132.09 billion, a price-to-earnings ratio of 23.30, a PEG ratio of 1.72 and a beta of 0.90. The company has a current ratio of 0.76, a quick ratio of 0.44 and a debt-to-equity ratio of 131.26. Enbridge has a 12 month low of C$45.05 and a 12 month high of C$60.78. The firm has a 50-day moving average of C$56.25 and a two-hundred day moving average of C$52.45.

Enbridge Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders of record on Friday, November 15th will be issued a $0.915 dividend. This represents a $3.66 annualized dividend and a dividend yield of 6.04%. The ex-dividend date of this dividend is Friday, November 15th. Enbridge’s dividend payout ratio (DPR) is presently 140.77%.

Insider Buying and Selling at Enbridge

In other Enbridge news, Senior Officer Maximilian Chan sold 688 shares of the company’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of C$55.20, for a total value of C$37,977.60. Insiders own 0.10% of the company’s stock.

About Enbridge

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.