Shares of Enbridge Inc. (TSE:ENB – Get Free Report) (NYSE:ENB) reached a new 52-week high on Monday . The stock traded as high as C$55.88 and last traded at C$55.79, with a volume of 1187243 shares. The stock had previously closed at C$55.37.
Analyst Ratings Changes
Several brokerages have issued reports on ENB. Scotiabank downgraded Enbridge from a “strong-buy” rating to a “hold” rating in a report on Friday, June 14th. Wells Fargo & Company upped their price target on shares of Enbridge from C$45.00 to C$48.00 in a report on Tuesday, June 4th. JPMorgan Chase & Co. upped their target price on shares of Enbridge from C$56.00 to C$57.00 in a research note on Wednesday, August 7th. CIBC upped their price objective on Enbridge from C$57.00 to C$59.00 in a research report on Monday, July 15th. Finally, National Bankshares boosted their target price on Enbridge from C$53.00 to C$57.00 and gave the company a “sector perform” rating in a research note on Friday, August 23rd. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of C$54.33.
Read Our Latest Stock Analysis on Enbridge
Enbridge Stock Performance
Enbridge (TSE:ENB – Get Free Report) (NYSE:ENB) last released its quarterly 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). The business had revenue of C$11.34 billion for the quarter, compared to the consensus estimate of C$5.86 billion. Enbridge had a return on equity of 8.57% and a net margin of 13.54%. As a group, equities research analysts predict that Enbridge Inc. will post 3.0693674 earnings per share for the current fiscal year.
Enbridge Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Thursday, August 15th were paid a $0.915 dividend. This represents a $3.66 dividend on an annualized basis and a yield of 6.63%. The ex-dividend date was Thursday, August 15th. Enbridge’s dividend payout ratio (DPR) is presently 140.77%.
Insider Buying and Selling at Enbridge
In other Enbridge news, Director Steven Walter Williams bought 18,600 shares of the business’s stock in a transaction on 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. Insiders own 0.10% of the company’s stock.
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.
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