Enbridge (TSE:ENB) Sets New 1-Year High – Here’s What Happened

Enbridge Inc. (TSE:ENB) (NYSE:ENB) hit a new 52-week high on Friday . The company traded as high as C$62.27 and last traded at C$62.27, with a volume of 201741 shares changing hands. The stock had previously closed at C$61.87.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Raymond James lifted their price objective on shares of Enbridge from C$59.00 to C$63.00 in a research note on Tuesday, November 26th. Wells Fargo & Company upped their price target on Enbridge from C$57.00 to C$60.00 in a report on Thursday, December 5th. CIBC raised their price objective on Enbridge from C$61.00 to C$63.00 in a research note on Wednesday, December 4th. Barclays boosted their target price on Enbridge from C$54.00 to C$59.00 in a research report on Monday, November 11th. Finally, Royal Bank of Canada increased their price target on Enbridge from C$59.00 to C$63.00 in a research report on Wednesday, December 4th. Eight analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, Enbridge has an average rating of “Hold” and a consensus price target of C$60.31.

Enbridge Trading Up 0.6 %

The company’s 50 day simple moving average is C$59.52 and its two-hundred day simple moving average is C$55.04. The stock has a market cap of C$135.71 billion, a price-to-earnings ratio of 23.94, a price-to-earnings-growth ratio of 1.72 and a beta of 0.90. The company has a debt-to-equity ratio of 131.26, a quick ratio of 0.44 and a current ratio of 0.76.

Enbridge Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Friday, February 14th will be issued a dividend of $0.9425 per share. This represents a $3.77 annualized dividend and a dividend yield of 6.06%. This is a positive change from Enbridge’s previous quarterly dividend of $0.92. Enbridge’s dividend payout ratio (DPR) is currently 140.77%.

Insider Buying and Selling at Enbridge

In related news, Senior Officer Cynthia Lynn Hansen sold 1,106 shares of the firm’s stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of C$59.94, for a total transaction of C$66,293.64. Corporate 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.