Enbridge (TSE:ENB) Price Target Raised to C$61.00 at Scotiabank

Enbridge (TSE:ENB) (NYSE:ENB) had its price objective upped by Scotiabank from C$57.00 to C$61.00 in a research note published on Wednesday,BayStreet.CA reports.

Other research analysts also recently issued research reports about the company. CIBC raised their target price on Enbridge from C$59.00 to C$67.00 in a research note on Monday, November 4th. Royal Bank of Canada raised their price objective 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. JPMorgan Chase & Co. upped their target price on shares of Enbridge from C$60.00 to C$66.00 in a report on Thursday, November 21st. Morgan Stanley set a C$64.00 price target on shares of Enbridge and gave the company an “equal weight” rating in a report on Friday, October 25th. Finally, Wells Fargo & Company raised shares of Enbridge from a “strong sell” rating to a “hold” rating in a report on Wednesday, November 6th. Eight analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of C$59.15.

Enbridge Trading Up 0.3 %

TSE:ENB opened at C$61.38 on Wednesday. Enbridge has a 1 year low of C$45.05 and a 1 year high of C$61.89. The stock’s fifty day moving average price is C$57.76 and its two-hundred day moving average price is C$53.42. The company has a debt-to-equity ratio of 131.26, a current ratio of 0.76 and a quick ratio of 0.44. The company has a market cap of C$133.81 billion, a P/E ratio of 23.61, a P/E/G ratio of 1.72 and a beta of 0.90.

Enbridge Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Friday, February 14th will be given a dividend of $0.9425 per share. This is an increase from Enbridge’s previous quarterly dividend of $0.92. This represents a $3.77 dividend on an annualized basis and a yield of 6.14%. Enbridge’s dividend payout ratio (DPR) is presently 140.77%.

Insider Transactions at Enbridge

In other Enbridge news, Senior Officer Maximilian Chan sold 688 shares of Enbridge stock in a transaction that occurred 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. Company 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.