Enbridge (TSE:ENB) Sets New 1-Year High – Should You Buy?

Enbridge Inc. (TSE:ENB) (NYSE:ENB) shares reached a new 52-week high during trading on Wednesday . The company traded as high as C$56.16 and last traded at C$56.10, with a volume of 1379172 shares changing hands. The stock had previously closed at C$55.50.

Wall Street Analyst Weigh In

ENB has been the subject of several research analyst reports. Royal Bank of Canada raised their price objective on shares of Enbridge from C$55.00 to C$59.00 and gave the stock an “outperform” rating in a report on Thursday, October 3rd. CIBC boosted their target price on Enbridge from C$57.00 to C$59.00 in a research report on Monday, July 15th. BMO Capital Markets lifted their price objective on Enbridge from C$54.00 to C$56.00 in a report on Thursday, September 5th. JPMorgan Chase & Co. boosted their price objective on shares of Enbridge from C$57.00 to C$60.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. Finally, National Bankshares raised their target price on shares of Enbridge from C$53.00 to C$57.00 and gave the stock a “sector perform” rating in a research note on Friday, August 23rd. Six analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, Enbridge currently has an average rating of “Hold” and an average price target of C$55.25.

Enbridge Price Performance

The firm has a market cap of C$122.34 billion, a price-to-earnings ratio of 21.46, a PEG ratio of 0.75 and a beta of 0.90. The stock has a 50-day moving average price of C$54.14 and a 200 day moving average price of C$50.80. 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 (TSE:ENB) (NYSE:ENB) last announced 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 business had revenue of C$11.34 billion during the quarter, compared to analysts’ expectations of C$5.86 billion. As a group, equities research analysts forecast that Enbridge Inc. will post 3.0366521 earnings per share for the current fiscal year.

Enbridge Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Thursday, August 15th were given a $0.915 dividend. The ex-dividend date was Thursday, August 15th. This represents a $3.66 dividend on an annualized basis and a yield of 6.52%. Enbridge’s dividend payout ratio (DPR) is 140.77%.

Insider Transactions at Enbridge

In other Enbridge news, Director Steven Walter Williams acquired 18,600 shares of the business’s stock in a transaction on Tuesday, August 13th. The stock was purchased at an average price of C$53.74 per share, for a total transaction of C$999,564.00. In other news, Director Steven Walter Williams bought 18,600 shares of the stock in a transaction on Tuesday, August 13th. The shares were bought at an average price of C$53.74 per share, with a total value of C$999,564.00. Also, Senior Officer Maximilian Chan sold 688 shares of Enbridge stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of C$55.20, for a total value of C$37,977.60. Company 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.