Enbridge (TSE:ENB) Price Target Raised to C$60.00 at BMO Capital Markets

Enbridge (TSE:ENB) (NYSE:ENB) had its price objective lifted by BMO Capital Markets from C$59.00 to C$60.00 in a report published on Wednesday morning,BayStreet.CA reports.

Several other research firms have also commented on ENB. Morgan Stanley set a C$64.00 price target on shares of Enbridge and gave the company an “equal weight” rating in a research report on Friday, October 25th. CIBC raised their price target on Enbridge from C$61.00 to C$63.00 in a research report on Wednesday. Scotiabank boosted their price target on Enbridge from C$57.00 to C$61.00 in a report on Wednesday. Barclays increased their price objective on Enbridge from C$54.00 to C$59.00 in a research note on Monday, November 11th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Enbridge from C$60.00 to C$66.00 in a research note on Thursday, November 21st. Eight analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of C$59.15.

Enbridge Price Performance

Enbridge stock opened at C$61.38 on Wednesday. The company has a quick ratio of 0.44, a current ratio of 0.76 and a debt-to-equity ratio of 131.26. The firm’s 50-day simple moving average is C$57.76 and its 200 day simple moving average is C$53.42. Enbridge has a 52 week low of C$45.05 and a 52 week high of C$61.89. The firm has a market capitalization of C$133.81 billion, a PE ratio of 23.61, a P/E/G ratio of 1.72 and a beta of 0.90.

Enbridge Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Friday, February 14th will be issued a $0.9425 dividend. This represents a $3.77 dividend on an annualized basis and a yield of 6.14%. This is an increase from Enbridge’s previous quarterly dividend of $0.92. Enbridge’s dividend payout ratio is currently 140.77%.

Insiders Place Their Bets

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