Enbridge (TSE:ENB) Price Target Raised to C$67.00 at Royal Bank of Canada

Enbridge (TSE:ENB) (NYSE:ENB) had its price objective upped by Royal Bank of Canada from C$63.00 to C$67.00 in a research note issued to investors on Tuesday,BayStreet.CA reports.

A number of other research analysts have also weighed in on the company. Barclays raised their target price on Enbridge from C$59.00 to C$64.00 in a report on Monday, January 6th. Wells Fargo & Company raised their target price on Enbridge from C$57.00 to C$60.00 in a report on Thursday, December 5th. Morgan Stanley set a C$64.00 target price on Enbridge and gave the company an “equal weight” rating in a report on Friday, October 25th. Scotiabank raised their target price on Enbridge from C$61.00 to C$65.00 and gave the company a “sector perform” rating in a report on Thursday, February 13th. Finally, CIBC lifted their price target on Enbridge from C$63.00 to C$66.00 and gave the stock an “outperform” rating in a report on Thursday, January 9th. Seven investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of C$63.23.

Enbridge Trading Down 0.7 %

TSE ENB opened at C$60.64 on Tuesday. The company has a debt-to-equity ratio of 144.86, a current ratio of 0.62 and a quick ratio of 0.44. Enbridge has a one year low of C$45.39 and a one year high of C$65.62. The business has a 50 day simple moving average of C$62.18 and a 200 day simple moving average of C$58.25. The stock has a market capitalization of C$131.42 billion, a P/E ratio of 19.71, a P/E/G ratio of 1.72 and a beta of 0.90.

Enbridge Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Saturday, March 1st will be paid a $0.9425 dividend. The ex-dividend date of this dividend is Friday, February 14th. This is a positive change from Enbridge’s previous quarterly dividend of $0.92. This represents a $3.77 annualized dividend and a dividend yield of 6.22%. Enbridge’s payout ratio is presently 118.98%.

Insider Buying and Selling at Enbridge

In other news, Senior Officer Cynthia Lynn Hansen sold 1,106 shares of Enbridge stock in a transaction on Monday, December 23rd. The stock was sold at an average price of C$59.94, for a total value 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.